Bitcoin (BTC) has moved one step closer to the Golden Cross, thanks to its upward performance in recent weeks.
While Bitcoin maintains its momentum after the 30% rise it experienced last week, analysts Golden Cross He warned that it was very close. Especially in the last week, increasing expectations for spot Bitcoin exchange-traded fund (ETF) approval strengthened the rise in price. However, in Bitcoin 2024 of the year April will take place in halving approach is also behind the rise driving forces was among them.
50 day moving average (MA50) 200 day moving average (MA200) formed by upward cutting golden cross so far usually rising brought. According to data, Bitcoin has so far Golden Cross 9 times He witnessed the intersection.
Triggered increases up to 640%
From these intersections 6 While each one creates a positive impact July 11, 2014, July 15, 2015 And February 19, 2020 The three dated ones were not a successful signal and were accompanied by decreases in price.
Looking at the graph, the first two Goden Cross intersections and in May 2020 The intersection brought serious gains. In the one-year period following the Golden Cross intersection in May 2020, Bitcoin price increased by approximately It was up 640%.
However, Bitcoin is at an all-time high following the Golden Cross in September 2021. for $69,000 had reached.
It happened twice this year
Bitcoin 2023 within the year 2 times Witnessed the Golden Cross intersection. The first one occurred in February and the price 2 months old about in the process 60% rose. The second occurred at the beginning of September and 40 days in a shorter period of time like around 35% showed an increase.
If there are no sudden changes in the Bitcoin price, the next Golden Cross will occur in the next few days. According to CoinGecko data, in the last 24 hours 0.3% Bitcoin losing value at the time of writing 34,317 It is traded in dollars.