Bitcoin (BTC) is very close to experiencing a “Golden Cross” on a weekly basis for the first time in its history.
While Bitcoin was very close to closing 2023 above 40 thousand dollars, a detail in the long-term chart attracted attention. Looking at the chart, for the first time in Bitcoin’s history 50 and 200 day moving averages (MA50 and MA200) “Golden CrossIt seems that they are about to intersect in the form of ”. If there is no extreme movement in the Bitcoin price, the intersection in question In the first week of 2024 It will happen.
Although Golden Cross intersections usually mean that the market will rise further, it is still unknown what the outcome of this first-time intersection will be. Before daily based Golden Cross intersections Although it triggered the rise in Bitcoin price, this did not have the same effect every time.
Some market commentators point to the Golden Cross as Bitcoin’s A new all-time high (ATH) in 2024 While others think that this signal will come on a weekly basis, it will not work.
According to CoinGecko data, in the last 24 hours 0.6% Bitcoin, which is on the rise, at the time of writing from $42,900 is being traded.
