The optimistic prediciotns about the price of Bitcoin continue these days, and they seem to be rising in numbers as well. At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $23,461.Bitcoin price predicitons are out
There is a popular crypto strategist who says Bitcoin (BTC) may be gearing up for explosive price action to the upside amid the potential cross of two key indicators.
The anonymous host of InvestAnswers said recently in a new video that Bitcoin could flash a golden cross in the coming days.
A golden cross occurs when a short-term moving average (MA) rises above a long-term moving average.
“Let’s look at the golden cross… We are coming up to one probably in about six days, maybe a little bit less depending on the trajectory of Bitcoin action. [A golden cross happens] when the green line, which is a 50-day moving average, crosses through the red one which is a 200-day moving average. In the past, Bitcoin’s big rallies, big, big rallies have all started with a golden cross.”
The host of InvestAnswers, however, warns that in the case of Bitcoin, there’s at least a 20% chance of a golden cross failing.
“But, remember, not all golden crosses have led to a big rally. I think only about 72% – 80% of them have. But Bitcoin has seen eight golden crosses, of which three confirmed huge moves afterward. They’re February 2012, October 2015 and May 2020. These were all on point of pre-staging at least a year to 18-month bull run now and the prices at least doubled or rallied 350% or a lot more.”
There are various optimistic Bitcoin prediciotns these days despite the world drama. Stay tuned for more relevant news and make sure to also keep your eyes on the crypto market.The post Huge Bitcoin Rally Prediction: Potential Golden Cross Appears first appeared on CryptoGazette - Cryptocurrency News.