Lark Davis, one of the most famous analysts in the crypto money industry and has 432,000 followers, gave one of the news that crypto investors want to hear most at the moment. In his most recent video, the analyst touched on the possibility of Bitcoin starting a new bull season.
The Expected Signal for Bitcoin Has Arrived
According to the analyst, Bitcoin has signaled a new “golden cross”, which is actually pretty good news as many investors know.
It’s official. This is now official and approved. We saw a golden cross on the Bitcoin chart. This is of course known as the 50-day moving average going above the 200-day moving average, and that’s definitely good to see.”
The analyst also revealed the movement of the Bitcoin price every time the gold cross was seen, and emphasized that the price increased by 700% after the signal seen in May 2020. Davis also reminded that BTC rose 200% after this signal seen in April 2019. In September 2015, this signal led to a non-stop bull season, with BTC going from $300 to $20,000.
Anist emphasized that BTC’s first gold crossover was in February 2012, and the price rose by 22,000%. Stating that this signal is very positive after the coronavirus epidemic increased its speed and severity, the analyst definitely thinks that the price will move in the coming days. Although technical analysis is not always 100% correct, both fundamental and technical support this situation at the moment.
