Bitcoin price which is consolidating for nearly a month could undergo a massive rally in a coming couple of hours. No doubt the price attempted to break the upper barriers a couple of times but faced rejection each time. However, the BTC price could undergo a notable surge as the most awaited event is on the horizon.
As in the recent past, the death cross took away nearly 10% of the price within a single day. The plunge also continued for the next couple of days and hence declining the price by more than 25%. However, with a recent update, the much-awaited Bitcoin Golden Cross could be just a few hours away from now.
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Both the moving averages, 200 and 50, are currently intersecting each other and yet to cross. Therefore, a golden cross will be confirmed when both the averages cross each other, which may take a few more hours from now. As Coinpedia reported earlier on the probable dates for the golden cross, the event is happening as per the predictions.
In the previous events, the golden cross has given the Bitcoin price similar boosts that are extracted during the death cross. If this comes true, then the BTC price could easily surpass the $50K milestone yet again with at least a 10% jump. Yet the price needs to surge a little and settle above $46300 in order to validate the event. And in case a dump makes its way, the event could also be invalidated.
Also Read: Bitcoin is in a Congestion Zone! Will BTC Price Breach $46k or Plunge Below $40k?
Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
