Bitcoin’s Seventh “Golden Cross” in 10 Years Nears – What This Means for BTC Price?
Bitcoin Golden Eyes. Source: Adobe In light of the recent rally that has seen it surge more than 40% since the start of the year, Bitcoin is about to experience only its s event h so-called “golden cross” in the last 10 years. A golden cross is a technical event where the 50-Day Simple Moving Average (SMA) crosses to the north of the 200-Day SMA. Some technicians and traders interpret a golden cross as either a buy signal, or at least a sign that price momentum has shifted in a bullish direction. Assuming there isn’t a sudden and lasting more than 30% collapse in the price of Bitcoin, the world’s largest cryptocurrency by market capitalization and the first successful implementation of cryptographically secured blockchain technology, Bitcoin’s 50-Day SMA should move above its 200-Day SMA in around one week. Another Bitcoin "golden cross" is incoming. Source: TradingView How Has Bitcoin Performed After Golden Cross Events? If you were to...