BTC - The last Golden Cross returned over 200% within 3 months
Bitcoin just saw its 3rd Golden Cross within the past 5 years, and that is likely very bullish
The last time bitcoin had a golden cross was back in April of 2019...
Right as bitcoin was turning up from $4k.
This resulted in a 3 month rally that took prices up around $14k before it petered out and toppled over.
The Golden Cross prior to that one was seen in late 2015, which eventually resulted in prices going to $20k in 2017 before that one petered out.
Long story short, a golden cross has been very good to bitcoin.
We just had a Golden Cross trigger today...
For only the 3rd time in the past 5 years, bitcoin experienced a golden cross:
(Source: https://twitter.com/themooncarl/status/1229641188807864321)
As mentioned above and previously, the last 2 were very big deals for bitcoin.
If history were to repeat in a similar fashion to the most recent one, we could see bitcoin go up to something like $28k.
And it would do so in relatively short order...
Which would look something like this:
(Source: https://twitter.com/crypto_rand/status/1229804861736308740)
Expectations?
Personally, I am not expecting that same kind of price action, but perhaps something a little more gradual, something closer to the first golden cross would be more likely this time around.
Something that slowly builds over time.
That one ultimately ended up yielding even higher returns so perhaps we should root for something more along the lines of that one anyways.
Either way I suspect we are in store for months of very bullish price action for bitcoin, buckle up.
Stay informed my friends.
-Doc
This golden cross kinda works out perfectly with my previous predictions. We aren't really in a place of slow and gradual gains right now. We are in a place of explosive gains followed by a devastating pullback.
The halving event is only bullish before and after the event takes place. During the event miners have just lost half their income and have to sell everything for the power bill.
I'm expecting some pretty crazy stuff to go down over the next 6 weeks.
Historically, there has been a decent sized pullback following the halving itself. It's that dip from which the really big parabolic rally begins.
The first thing to worry about is how much BTC is gonna correct when it eventually breaks down from that ascending channel. I hope it won't be too much because then, we're up against some difficult times - again. :-)
If history is any indication, it won't be much.
The retracement started. Let's hope for the best. ;-)
Cool to see! I'm a noob. Don't know about any crosses but his somehow gives me high hope :D
Great! I didn't know that the BTC chart is closing to the trigger.
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Yea, the golden cross has officially triggered now. Which likely means more good things to come in the coming months.
Good news!
Yep, I agree.