Today, the talk across the crypto market is that Bitcoin price is forming a Golden Cross – a potentially bullish signal according to conventional knowledge. But this is the cryptocurrency market, and anything is possible given the potential for sudden, sweeping regulation, hacks, or worse. With the Golden Cross now here, we are looking back at the history of the signal, and breaking down exactly what it means and how this could impact Bitcoin price action in the days ahead. Bitcoin Price Forms Eighth Ever Golden Cross Forget the digital gold narrative. All across crypto Twitter, online forums, and anywhere else cryptocurrency community chatter exists, the discussion is centered around the Golden Cross that’s forming on the BTCUSD trading pair. According to Investopedia, a Golden Cross “occurs when a short-term moving average crosses over a major long-term moving average to the upside.” It is “interpreted by analysts and traders as signaling a definitive upward turn in a market,” the description continues. Specifically, this Golden Cross refers to the 50-day moving average crossing above the 200-day moving average. Related Reading | Bitcoin Price “Pitchfork Channel” Could Pin-Point The Last Dip Ever Because this could be the definitive upswing in Bitcoin price that takes the cryptocurrency to its potential cycle peak, all eyes are on the signal. But not everyone knows what to look for, or what...
