Bitcoin’s Golden Cross Sparks Anticipation for Potential Price Surge
2025-07-20 13:50:26
Main Idea
A new golden cross signal in Bitcoin's price chart has sparked anticipation for a potential price surge, with historical data showing significant gains in past instances but also highlighting variability in outcomes.
Key Points
1. A golden cross signal has appeared in Bitcoin's price chart as the 50-day SMA crosses above the 200-day SMA, with Bitcoin's price currently below $120,000.
2. Historical data shows significant price increases following golden crosses: 139% in 2016, 2,200% in 2017, and 1,190% in 2020, but weaker gains of 50% in September 2021 and 45% in October 2023.
3. Analysts emphasize the need for a daily close above $120,000 followed by a retest to confirm new peaks.
4. The golden cross is viewed as a strong technical indicator, but past instances like February 2020 saw a 62% drop due to external shocks like COVID-19.
5. Long-term crossovers may indicate trend sustainability, but the absence of confirmation and mixed historical outcomes highlight volatility and risk.
Description
The 50-day SMA recently crossed above the 200-day SMA for Bitcoin. Merlijn highlighted notable increases following past golden cross signals. Continue Reading: Bitcoin’s Golden Cross Sparks Anticipation for Potential Price Surge The post Bitcoin’s Golden Cross Sparks Anticipation for Potential Price Surge appeared first on COINTURK NEWS .
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