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Abstract:Bitcoin’s dip below the 200-day moving average makes this the worst bear market in history
The first sign of a bear market is the decline in Bitcoin price below its 200-day moving average.
Bitcoin is trading at less than half of the 200-day moving average level.
Only 13.9% of all Bitcoin trading days have seen spot prices below unrealized prices.
In case youve been living under a rock, the crypto market collapsed in May, erasing more than $2 trillion in value. In a week, Terra went from being valued at more than $50 billion to collapsing into a state of disrepair.
As Terra collapsed, wiping out nearly $40 billion in investors capital, so too did other cryptocurrencies. When the algorithmic stablecoin UST lost its peg to the U.S. dollar and the price of LUNA dropped 98%, it fuelled a slump across cryptocurrencies. The result was a market capitalization that fell below $1 trillion for the first time since January 2021.
While cryptocurrencies have a track record of boom and bust cycles, owing to their volatility, a new report by blockchain analysis firm Glassnode shows that the current crypto bear market is the worst ever recorded.
More specifically, on-chain analysis highlights how Bitcoin‘s (BTC) combined current dip below the 200-day moving average (MA), negative deviation from realized price and net realized losses makes 2022, unequivocally, the worst in BTC’s history.
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Dubai, UAE — The WikiEXPO Dubai 2024, hosted by WikiGlobal, successfully concluded on November 27, attracting wide attention from the global financial technology sector. The event was co-organized by WikiFX and the Australian Computer and Law Association (AUSCL), with strong support from the Mauritius Financial Services Institute (FSI) and the government of Liberland. Through an innovative hybrid model of online and offline participation, WikiEXPO Dubai 2024 achieved an impressive 1,267,886 online views and gathered 3500+ on-site participants, bringing together 550+ industry leaders and attracting close coverage from over 1300+ global media outlets.
The German Federal Financial Supervisory Authority (BaFin) has recently flagged a fraudulent clone of the licensed retail FX and CFD broker Pepperstone. This fake entity, operating under the domain pepperstone.life, has been offering financial and investment services without obtaining the necessary regulatory authorisation.
The Royal Malaysian Police (PDRM) have raised concerns over the increasing use of TikTok by criminal syndicates to lure victims into investment scams.
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