Amid Bitcoin’s decline this week, eagle-eyed chart-watchers noticed an ominous-sounding technical breach could be at hand: the coin is approaching a bearish pattern known as a death cross.
Yellen's rate-hike comments and lingering China regulatory concerns dominate market sentiment.
Bitcoin continues its descent amid whispers of U.S. Federal Reserve tapering economic stimulus and China's ongoing pressure on crypto miners.
Once bitcoin breaks through $38,000, it may signal an upward trend toward its medium-term average of around $47,000, an expert said.
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