Bitcoin’s Golden Cross is Coming and it Doesn’t Matter
Within days, bitcoin’s trading chart will print a golden cross. It may have already happened by the time you read this article.
What’s a golden cross?
A golden cross happens when bitcoin’s 50-day moving average goes above its 200-day moving average on a price chart. This last happened on May 20, 2020, and it looked like this:
Traders say this cross will send bitcoin’s price to the moon, but are they right?
Sometimes yes, sometimes no
Bitcoin has seen seven golden crosses in its history. Four times, its price went down afterward. Three times, its price went up afterward.
See for yourself:
We will absolutely see another golden cross within days. Some people will get hyped and excited about it.
I won’t. History suggests less than 50/50 chance the price will go up in the coming weeks.
