Trend Analysis Suggests Bitcoin’s Bad Year Is About to Get Worse
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Bitcoin’s bad year may be getting worse.
The world’s biggest cryptocurrency, which nearly reached $20,000 in December, has lost almost two-thirds of its value since then. And according to the Directional Movement Index, Bitcoin is on its strongest negative trend since the sell-off earlier this year. The index’s ADX line is currently at 39.3. Anything above 25 is considered a strong trend.