Golden Cross Has Formed, Will BTC Prices Soar?

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Golden Cross Has Formed, Will BTC Prices Soar?

Golden Cross Has Formed, Will BTC Prices Soar?

The 2018 cryptocurrency market is a bad market for Bitcoin and crypto assets. However, 2019 is the year of the Bullish or at least the initial stage for the cryptocurrency and Bitcoin markets. The latest in the list of Bitcoin (BTC) signs is building a Bullish foundation and will rise to new all-time highs, namely the existence of a "Golden Cross" on the three-day Bitcoin price chart.

The last time this happened was in February 2016, and from there, Bitcoin continued to give investors a 4,900% return on their investment. Can the same thing happen to Bitcoin again?

At the time of the press, the price of Bitcoin was already at Rp. 148 million, up 8 percent over the past 7 days according to Indodax.

The price of Bitcoin has just triggered the "Golden Cross" on the three-day price chart, and the whole crypto world is enthusiastic that this could mean that Bitcoin will enter the real Bull market, and based on past experience, investors should be excited again.

In his Twitter account, Bitstamp said:

"BULLISH: 50MA crosses above 200MA on the 3 day BTC / USD chart, forming what is called the Golden Cross. The last time this happened was in February 2016. "

"Golden Cross" occurs when the short-term MA, in this case, the 50-week MA of Bitcoin, crosses over the long-term MA, or for Bitcoin assets, the 200-week MA.

Golden Cross is a pattern that is formed from a cross (Cross) between the Moving Average (MA) of the low period and the MA that has a higher period and is directed upwards. Usually, Golden Cross signifies that stocks are likely to go up.

This is a strong Bullish signal, and is usually a sign for investors that an asset will start its Bullish. And if the opposite - "Dead Cross" - is a signal that the downtrend or Bears market is coming!

Following the long and difficult Bearish market, crypto investors must remain enthusiastic about Bullish signals, but need to be cautious. Bitcoin in the past has formed Golden Cross only to later form Dead Cross, and then Golden Cross returns once again before the last Bulls market really starts.

Because there is a possibility that this can happen again, and history has a way to repeat it, investors must always be careful.

However, if Golden Cross is formed, and does not do another Dead Cross forgery, Bitcoin can continue to bring super-large returns to investors which usually does not occur in most classes of investment assets.

After the last Golden Cross occurred in February 2016, when Bitcoin was valued at only around $ 400 per BTC, the world's first crypto assets continued to move positively to produce a 4,900% return which peaked at $ 20,000.

Considering how much BTC market capitalization is needed to achieve such a number, seeing that any type of return is very unlikely, but also given the ability of Bitcoin to surprise, anything is possible. Let's wait and see.
Baca Juga

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