{"id":60525,"date":"2020-02-19T13:10:58","date_gmt":"2020-02-19T11:10:58","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=60525"},"modified":"2020-02-19T13:10:58","modified_gmt":"2020-02-19T11:10:58","slug":"bitcoin-flashes-bullish-signal-preceded-6000-percent-rally","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-flashes-bullish-signal-preceded-6000-percent-rally\/","title":{"rendered":"Bitcoin Flashes Amazingly Bullish Signal That Once Preceded a 6,000% Rally"},"content":{"rendered":"

Bitcoin has begun to trend higher over the past day, rallying as high as $10,300<\/a> from the weekend’s local low of $9,500 \u2014 a gain of 8.4%.<\/p>\n

While already impressive in and of itself, the cryptocurrency printed an extremely positive signal on Monday or Tuesday, depending on what chart you’re consulting: the 50-day simple moving average and the 200-day moving average saw a “golden cross,” whereas the former crossed above the latter, suggesting the trend is in favor of bulls.<\/p>\n

Golden crosses are seen in financial markets as a sign of an asset’s bull trend on a longer-term basis. Indeed, as Investopedia explains<\/a>:<\/p>\n

As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes. [\u2026] It is interpreted by analysts and traders as signaling a definitive upward turn in a market.<\/p><\/blockquote>\n

Bitcoin’s Golden Cross Could Be Massively Bullish<\/strong><\/h2>\n

The golden cross seen quickly sent Bitcoin investors and commentators into a cheery frenzy.<\/p>\n

Prominent commentator Crypto Capital Venture said that the chart with Bitcoin\u2019s<\/a> golden cross is the \u201cmost bullish picture in crypto right now.\u201d Also, Ivan \u201cIvan on Tech\u201d Liljeqvist, one of the industry\u2019s most popular content creators,\u201d said that this event is \u201cINSANELY BULLISH\u201d and it confirms that investors should \u201cfasten [their] seatbelts for new all-time highs.\u201d<\/p>\n

Indeed, as pointed out by cryptocurrency market commentator CryptoBull, the last two golden crosses seen with Bitcoin preceded massive surges higher:<\/p>\n

In April 2019, a golden cross appeared when BTC was trading at $5,400, preceding the nearly 200% move to $14,000 in the following two or so months.<\/p>\n

In October 2015, a golden cross appeared when BTC was trading at $300, preceding the over 6,000% move that took the cryptocurrency to $20,000 in the years that followed.<\/p>\n

\n

Ladies and gentlemen.. let me present the golden cross!<\/p>\n

The last time this happened was April 24th 2019 at $5,400.<\/p>\n

Before that was October 28th 2015 at $300. pic.twitter.com\/BcBbry8FwO<\/a><\/p>\n

— Mc\u0e3full (@CryptoBull) February 18, 2020<\/a><\/p><\/blockquote>\n