Bitcoin Nears Death Cross as U.S. Lawmakers Target Libra: Chart
This article is for subscribers only.
Bitcoin’s slump to a five-month low is pushing the largest cryptocurrency close to a death cross for the first time since March 2018. The digital currency’s 50-day moving average is nearing a cross below its 200-day average, according to Bitstamp pricing, a bearish technical move that may herald a further sell-off. Cryptos tumbled across the board during U.S. trading Wednesday as Facebook Inc. Chief Executive Officer Mark Zuckerberg faced questions from the House Financial Services Committee about his proposed Libra digital currency project, which has drawn widespread criticism since it was announced in June.