Is the price of bitcoin preparing for a massive price rally ahead? Many traders believe so.
The optimistic sentiments emerge owing to a potentially bullish factor. The bitcoin’s 50-daily moving average this Tuesday inched above its 200-daily moving average, a pattern known as Golden Cross.
Golden Cross formation hints an upside price rally | Source: TradingView.com, Coinbase
This indicator has flashed on a few occasions in recent times. Last seen in April 2019, it more or less resulted in a massive price spike, pushing bitcoin’s spot rate from below circa $5,300 to $13,868 in just two months. Following a similar occurrence dating back in September 2015, the cryptocurrency had jumped by an unbelievable 8,690 percent.
In other words, a Golden Cross is good news for traders – or it may appear as one.
Counter-indication
According to pseudonymous market analyst Sh*tcoin Riddler, traders are wrongly perceiving the Golden Cross formation as a harbinger of extended bullish momentum.
The crypto expert cited evidence that showed the cryptocurrency validating the upside indicator but failing to encash on it. He noted two out of a total of four cases wherein the bitcoin price didn’t pump after their Golden Cross event. Similarly, the formation of the Death Cross – a totally opposite of Golden Cross – didn’t result in a price crash.
Bitcoin price actions following Golden and Death Crosses | Source: Sh*tcoin Riddler
“If we take the past odds and project it into the future, there is a 55% chance for BTC to act as “expected” on the golden cross event, wrote Sh*tcoin Riddler. “In my opinion, golden/death cross events [don’t] have a significant impact on bitcoin‘s price. People just try to fit coincidence in their bias.”
The statements came also at the time when bitcoin had plunged by more than 10 percent from its local top near $10,500. On Monday, the cryptocurrency established its weekly low just below $9,500, confirming that unconcerned traders could still take prices down on profit-taking.
Pessimistic Bitcoin Catalysts
Bitcoin could struggle to grow its infrastructure smoothy owing to certain pessimistic scenarios emerging in the US, according to prominent quantitative analyst PlanB.
He hinted that the cryptocurrency would find it difficult to attract new buyers after Treasury Secretary Steven Mnuchin warned about rolling out strict regulations for the crypto space. The anticipation alone could keep institutional investors from making bigger bets in the bitcoin market.
2020 #bitcoin halving will not be an easy ride:– US/Mnuchin: draconian anti-btc laws– Craig Wright: legal & patent FUD– Hacks: like 2016 halving (DAO,Bitfinex)– MtGox & PlusToken selling narrative– Miner death spiral & futures FUD– ForksRisk vs S2F:https://t.co/FIMcEZWDPn
— PlanB (@100trillionUSD) February 18, 2020
On the other hand, technical analyst Elixium said earlier this week that bitcoin risks plunging towards $8,200 due to compressed volatility and extreme levels of open interest in the futures market.
Overall, the Golden Cross remains a conflicted indicator when it comes to predicting bitcoin’s bull runs. origin »
Bitcoin Magazine
Bitcoin Price Struggles at $90,000 as Christmas Trading Looms
The bitcoin price briefly climbed above $90,000 after rising from $88,000 during Asian and European hours, before retreating toward $88,000 again during U.
Bitcoin price recently climbed above $90,000, hinting at a possible recovery, but there are still concerns that the rally may not last.
The post Bitcoin Price Reclaims $90,000, Is This Dead Cat Bounce? appeared first on Coinspeaker.
Bitcoin is trading around $88,000, well below its recent all-time high near $124,000. While price has stabilized after the sharp pullback, on-chain data suggests the market may not be out of the woods yet.
Although the Bitcoin price has recently displayed swift recovery to the upside, the broader picture still mirrors a bleak future for the flagship cryptocurrency. A new on-chain evaluation has surfaced, which suggests that Bitcoin’s recent price recovery could be happening within a broader, weak trend, with macroeconomic factors acting as the major influences.
Bitcoin Magazine
Bitcoin Price Crashes to $84,000 – Is $70,000 Next?
The bitcoin price experienced two more aggressive dumps today, now trading near $84,500.
This post Bitcoin Price Crashes to $84,000 – Is $70,000 Next? first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
As the market volatility heats up again, the price of Bitcoin witnessed a pullback, bringing it closer to the $90,000 threshold. While BTC’s price faces a pullback, key on-chain metrics are beginning to follow suit, reaching levels that could shape or determine the next trajectory of the market.
Bitcoin Magazine
Bitcoin Price Forecast Tools and Cycle Valuation Metrics
This One Chart Has Never Missed a Bitcoin Price Top or Bottom in 15 Years
This post Bitcoin Price Forecast Tools and Cycle Valuation Metrics first appeared on Bitcoin Magazine and is written by Matt Crosby.
Bitcoin Magazine
Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts
The bitcoin price fell on Wednesday night into Thursday, falling from $94,000 to below $90,000.
This post Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Bitcoin (BTC) is trading in a narrow range between $92,000 and $94,000, a zone that could dictate whether the cryptocurrency rallies toward $100,000 or retraces to around $90,000.
When Strategy disclosed its acquisition of more than 10,000 Bitcoin worth $1 billion, market watchers anticipated an immediate rally. Instead, Bitcoin’s price barely moved. The muted response was not a reflection of weak demand but the result of how the purchase was executed.
Bitcoin Magazine
Bitcoin Price Skyrockets to $94,000 as Banks Start to Embrace Bitcoin
The bitcoin price is pumping this morning, currently trading above $94,000.
This post Bitcoin Price Skyrockets to $94,000 as Banks Start to Embrace Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
The Bitcoin price in December is now a key focus, given that the market ended November on a weak note. Bitcoin dropped more than 17% this month, breaking its usual November trend and raising questions about whether the recent $80,000 bounce was the real bottom.
Bitcoin Magazine
Bitcoin Price Dip Or New Bear Market?
Bitcoin Price Under Pressure as LTHs Distribute: Rising VDD Multiple & Falling Long-Term Holder Supply Show No Capitulation Yet.
Bitcoin has spent the past several weeks trapped in a persistent decline, wiping hundreds of billions of dollars from its market value and reversing nearly a year’s worth of gains. The pullback has pushed the price far below its October all-time high of $126,000 and has dragged sentiment with it as traders search for answers.
Bitcoin Magazine
Bitcoin Price Teeters at $93,000 as Bears Press Their Advantage
Bitcoin price is struggling to hold $93,000 as thin liquidity, leverage-driven volatility, and a critical break in market structure fuel one of the most bearish stretches of the 2025 cycle.
Bitcoin Magazine
Bitcoin Price Jumps Near $94,000 After Sub-$90,000 Dip
Bitcoin price briefly fell below $90,000 overnight before rebounding to the $94,000 range, trading near its weekly high, with over 19.
Bitcoin Magazine
Bitcoin Price Freefalls Down to $91,0000 and New Lows
Bitcoin price has fallen nearly 30% from its early October peak near $126,000, trading in the $92,000–$95,000 range as investors weigh Fed uncertainty and missing economic data.
Bitcoin Magazine
Bitcoin Price Plunges to $94,000, Hitting Six-Month Low as Macro Fears Mount
Bitcoin price was trading between $94,000 and $97,000 today, its weakest level since early May and a steep fall from October’s $126,296 all-time high.
Bitcoin Cash price is under selling pressure, testing support near $470. 8 and $460. 3. Bitcoin pullback and market fear amplify downside risks for the BCH price. Key resistance sits at $528. 85, with potential upside if support holds.
Bitcoin Magazine
Bitcoin Price Crashes Below $98,000 Close to Six-Month Lows
Bitcoin price plunged to $98,000 as long-term holders sold at record levels, institutional demand weakened, and broader market fatigue set in amid a fragile post-shutdown U.
As Bitcoin (BTC) continues to trade below the pivotal $90,000 mark with no signs of recovery, the prospect of a bear market is becoming increasingly relevant. Analyst Woominkyu from CryptoQuant has shared insights suggesting that the current market dynamics indicate a transition rather than just a temporary pullback. Could Bitcoin Be Shifting Into A Bear […]
Market expert Mr. Crypto Whale on the social media platform X (formerly Twitter) has attributed the recent Bitcoin price drop—falling below the $90,000 mark—to key developments in China. According to this analyst, the situation has been set in motion by renewed restrictions on domestic Bitcoin mining.
Bitcoin (BTC) investors may need to temper their expectations as the cryptocurrency heads into its final bull run. Analysts indicate that the bull rally could unfold slowly, suggesting a gradual climb to new highs.
Bitcoin Hyper price prediction remains optimistic, but DeepSnitch AI is drawing stronger attention as traders eye its 300X potential and superior ROI outlook.
The move by whales accumulating Chainlink sends a message about the asset’s capabilities, indicating conviction in potential recoveries and financial gains.
