With a 'death cross' looming in the cryptocurrency...

The 50-day moving average is heading precipitously lower to cross the 200-day moving average, which would trigger a so-called 'death cross'...

But Bitcoin has continued to find support above $8,000 (and the mystery dip-buyer's territory), suddenly spiking over $300 in the last few minutes...

And as goes Bitcoin, so the rest of the crypto space jumped too...

This follows comments last night by Peter Thiel who compared Bitcoin to gold...

"...but the one use-case of cryptocurrency as a store of value may actually have quite a bit of a ways to go. I would be long bitcoin and neutral to skeptical of just about everything else at this point, with a few possible exceptions.

The question with something like bitcoin is whether it can become a store of value. And the thing it would replace is something like gold. The analogy is it's like bars of gold in a vault that never move and you get it and it's a hedge of sorts against the whole world falling apart."

Perhaps fear of falling apart is sparking a bid?