Since the beginning of the year, the crypto markets have been torn apart while Bitcoin has been struggling to outlast the hard winter. However, a quick glimpse at the charts in recent days points to a new pattern whith a reversal in the offing.
In a video dated Feb 13, Crypto Crew University, a YouTube crypto researcher has analyzed the market in a positive way with Bitcoin headed for another bull run after the recent Golden Cross. A start of a bull run will put a sparkle across the market with the ripple effect cascading to Altcoins.
What is the Golden Cross (GC)?
Simply put, Golden Cross is the short-term cross over point between the Moving Average (MA) and the long term Moving Average price in the charts. This happens once in a while when the short term average is obverted to cross above the long term MA.
In the digital money market, the commonly used MA for GC are the 50 days and 200 days MA with preference being put on longer time frames for better credibility and accuracy. Smaller timeframe charts might not be accurate in a volatile market like crypto. Crypto Crew University adds:
“Golden Cross marks day one of the bull market. It marks the end of a bear market.” However, he is quick to point out that such occurrence are rare which also affects the investment opportunities that tag along with it; “it doesn’t come around very often, and we’re getting closer to it.”
Past, Current and Anticipated Bitcoin Trends
Once the 50 MA period skydives below the 200 MA period then it ushers in the Death Cross which is the path south. Bitcoin has been oscillating between these two zones for the better part of 2018. The exact Bitcoin Death Cross occurrence was between March and April 2018 with the price attempting to break above the 200 day MA.
Crypto Crew University also went back to June 2015 to show when the Golden Cross appeared in the chart and the following BTC Bull Run:
In his explanation he goes on to state:
“The assumption is that we’ve already bottomed… there’s a chance that we have, there’s a chance that we haven’t. I believe, and we’ve been saying this for a long time, I believe that once March is finished, we’re gonna have really some clear indications, clear evidence on the chart, without using our emotion or our opinion to decide ‘oh yes we’ve bottomed’ or ‘no we haven’t.’”
With the assumption that we have experienced the bottoming period, Crypto Crew projections are aligned towards the Golden Cross putting its timeline in the months of June/July this year. In the event that BTC has not bottomed, he pushed the timeline to October/November 2019 and once it happens, it will bring back the crypto verse spackle.