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Breaking News: SoftBank, Ark Invest Among Potential Investors In Tether's $15 Billion Funding Round

Bitcoin Golden Cross “Is Official” According To Capital Manager

Keshav Verma
Keshav Verma
1 year ago
3 mins read
Bitcoin Golden Cross

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The Bitcoin golden cross, a signal that has traditionally been a bullish indicator, is now official, according to a capital manager.

The Famous Bitcoin Golden Cross Now “Official”

According to a capital manager on Twitter, the Bitcoin golden cross is now official. This is only the eighth time in the history of the coin that such a cross has occurred.

The “golden cross” has been the topic of discussion all over the online crypto communities today, but what is it that makes it so special? Well basically, a golden cross is marked by a short-term moving average (MA) taking over a long-term one. Usually, analysts consider such an event to be a bullish turn for the market.

The bullish crossover that Bitcoin is witnessing right now is one where the 50-day MA is moving over the 200-day MA.

Here is a chart posted by the capital manager that highlights this golden cross for the BTCUSD trading pair:

Bitcoin Golden Crossover

The 50-day MA seems to have crossed over the 200-day MA | Source: Tweet by Dr. Jeff Ross

As the above chart shows, the golden crossover looks to be complete as the 50-day MA makes a move above the 200-day MA. The capital manager believes we will see “Strong short-term price action. Recent bearish patterns breaking down.”

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

What Does The Crossover Mean For BTC’s Price?

Conventionally, the golden cross has been considered a bullish signal for Bitcoin. However, there have certain exceptions throughout its history.

While golden crosses have indeed been there before the start of previous bull runs, there have also been many cases where the crossover was just a fake out event.

Opposite to the golden cross is the “death cross,”  which occurs after every bull market and marks a bearish turn for Bitcoin. During fake out events, alternative false golden and death crosses usually form.

Related Reading | One Way To Protect Your Profit No Matter Bitcoin Pumps or Dumps

After BTC hit the latest ATH of $65k, a death cross formed, but the crypto didn’t see any significant downtrend following it.

Bitcoin Price Chart

Bitcoin has formed its eighth golden cross ever | Source: BTCUSD on TradingView

Based on the death cross being a false signal, it’s possible this golden cross will just turn out to be another one of those fake out occurrences where a false cross leads into another. However, it could also very well shoot the coin up instead, helping the coin reach the last peak that some indicators have been hinting at.

Where do you think this golden cross will lead Bitcoin to? Let us know in the below poll!

Will the Bitcoin golden cross ultimately be…

— NewsBTC (@newsbtc) September 15, 2021

Featured image from Unsplash.com, charts from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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