Bitcoin Is Primed For Mega Bull Run As Golden Cross Appears On The Price Chart For The First Time Since 2016

Reddit co-founder praises Bitcoin, says it's a store of value against hyperinflation; to fuel new internet

Bitcoin News Today – According to cryptocurrency latest update, the golden cross is a technical chart trend that predicts the possibility of a significant rally, as opposed to the death cross which predicts a bearish price movement. A golden cross is in three phases, the first phase involves a total decline, and then shorter moving average forms a crossover through the larger one to cause a release at the second phase, this verifies a trend reversal. The final phase is persistently upturned.

Bitcoin News Today – Bitcoin Price Analysis – Bitcoin Price Prediction – Temporary Upward and Downtrend for BTC

Going by the latest bitcoin analysis, investors and traders might be in for a major increment soon as Bitcoin is forming a bullish trend known as Golden Cross. Golden Cross is a symbol of a bullish trend in view. The last time this happened was in 2016 when the new bull trend started which led to the major surge at $20,000 in December 2017. For the first time since the 2008 recession and the US going for round two of the trade war with China, Bitcoin price started inflating behind Fed bringing down the interest rate since the beginning of August.

Bitcoin value has increased above $10,000 presently up to 3.15% while trading at $10,800. Recently, the market is trying to recover after experiencing a losing streak for the past few weeks. From all indications by BTC news prediction, investors and traders will be experiencing upward and downward trends temporarily, though in the long-run the future of Bitcoin is extremely bullish.

Although Global banks are trying to reduce interest rates amidst the context of inflation in the process decelerating economic activity. Recently investors and traders experienced the decline in interest rate by 25bps by the Federal Reserve.

Cryptocurrency News Today – BTC Moving Close to Global Gold

As provided by Delphi Digital’s latest statement, Bitcoin’s record is moving close to digital gold, as a result of a budding risk of currency depreciation and growing geopolitical strain due to trade wars. Going by Delphi Digital’s analysis, the risk of recession in the US is brewing strongly. The firm emphasizes the gold exercise that surged in value. No predictions on Bitcoin has been made by the firm as regard to how the currency will fair during that period as there is no record of such occurrence since the inception of the currency. Although the transition in perception for global banks is evoking a rally in dicey stocks.

Bitcoin’s latest price is at $10,673.83 BTC/USD exchange rate today. The real-time BTC market cap of $190.6 Billion currently ranks #1 with a chart dominance at 66.18%, daily trading volume of $4.42 Billion and live coin value change of BTC – 0.49 in the last 24 hours.

The golden cross is a trend that signifies a bullish forecast, where a temporary stirring average transcends above a long-term moving average. The 50-period and the 200-period moving average are the most prevalent average used in the bullish breakout trend. The golden cross gives a forecast of a bull market on the horizon and is aided by high trading volumes, as long-term indicators grow stronger.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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