Bullrun Bitcoin will start after the “Golden cross”. What does it mean?

The sudden growth of Bitcoin greatly enlivened traders and investors. After formation of the first in a long time local of the uptrend, the experts began to speculate about the future price movements of the cryptocurrency. Some are predicting her to unimaginable heights like a million dollars, while others, conversely, forward to another strong fall.

Top forecasts

Most famous in this “craft” was John McAfee for his uncompromising predictions. Recently, a millionaire once saidthat the main cryptocurrency will increase above a million dollars until December 31, 2020.

Analyst Fundstrat Tom Lee has a more realistic target for the price of Bitcoin.

Judging by dynamics of growth Hasrat, the cost of Bitcoin to the end of 2019 will be at least 36 thousand dollars.

The BTCC co-founder Bobby Lee believes in 333 thousand dollars per coin in 2021. He also assured that in the future, the capitalization of the cryptocurrencies will surpass the capitalization of the gold, that is $ 7 trillion.

Technical analysis

One way of determining the start date of the next bullrun is the “Golden Cross” — crossing long-term moving average (like the 50 MA) candle price of the asset. On the chart of Bitcoin is the current state of cryptocurrency is like the end of 2015, when the coin came to the first Golden Cross after a long bearish trend.

The direct opposite of the Death Cross indicator is the fall in prices below the moving average line. The downtrend in the past this event was held on 7 April 2014, with the point of Bitcoin fell another 62% from 446 to 168 dollars. If you extrapolate the current bearish trend, after all movements of an asset Golden Cross should happen around September 2019.

Source: TradingView

After the new bullrun, whereas the same extrapolation, the price of cryptocurrency will reach a minimum of 176 thousand dollars by November 2021. Tuned to the market situation can be traced in our cryptodata.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM TO ALWAYS TRADE IN PLUS.

Leave a Reply

Your email address will not be published. Required fields are marked *