Select Page

Don't Tread On My Site

Bitcoin Price “Golden Cross” Hints At 170% Rally To $26K By Halving

Load WordPress Sites in as fast as 37ms!

Bitcoin Price “Golden Cross” Hints At 170% Rally To $26K By Halving

Authored by William Suberg via,

Bitcoin can hit $26,000 in just two months thanks to a bullish event that previously triggered 170% price gains.

image courtesy of CoinTelegraph

As noted by Cointelegraph Markets analyst, Keith Wareing, on Feb. 18, this week saw Bitcoin’s ascending 50-day moving average cross over its 200-day moving average.

Bitcoin 1-year price chart with 50 and 200-day moving average.

Known as a “golden cross,” the phenomenon is a rare occurrence for the cryptocurrency. Despite BTC/USD shedding almost $1,000 in recent days, Wareing is anything but bearish on short-term profit potential.

“Last time this happened #Bitcoin pumped 170% in under 60 days,” he summarized on Twitter.

Wareing added that at press-time levels of around $9,800, Bitcoin had retained support in an overall bullish ascending price triangle. 

That sentiment was echoed by fellow Cointelegraph Markets analyst, Michaël van de Poppe

“And so, we’ve bounced on the green area around $9,450-9,500. That was heavily needed,” he told Twitter followers on Wednesday.

“We could still see a period of relative calm movements, before we’re either attacking the highs at $10,400 or the lows at $9,500.”

In addition, the past weekend left a significant gap between two Bitcoin futures trading sessions. Historically, Bitcoin has subsequently “filled” these gaps, the implication being that this week could see a return to $10,500. 

Friday’s session closed at $10,495, while Monday’s began at just under $10,000.

1 month, 3 all-time high forecasts

The golden cross makes Wareing the third prominent Bitcoin figure to forecast major short-term gains this month alone. 

As Cointelegraph reported, Fundstrat’s Tom Lee believes Bitcoin could reach $27,000 by August, again thanks to price beating out resistance from its 200-day moving average. 

Thereafter, venture capitalist Mike Novogratz said that BTC/USD might retest its all-time highs of $20,000 by the time of May’s block reward halving.

Tyler Durden

Tue, 02/18/2020 – 11:45

This post has been republished with permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

-> Click Here to Read the Original Article <-

Advertise on Libertarian Hub

About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit

Leave a reply

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

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Bringing together a variety of news and information from some of today’s most important libertarian thought leaders. All feeds are checked and refreshed every hour and pages auto-refresh every 15 minutes. External images are deleted after 30 days.

Time since last refresh: 0 second

Publish Your Own Article

Follow The Libertarian Hub