Bitcoin ETF

Bitcoin

April

when

Divergence

The world’s first cryptocurrency, Bitcoin, has seen its 200-day moving <a href="https://buybitcoinworldwide.com/charts/200-day-moving-average/" target="_blank" rel="noreferrer noopener">average</a> reach an unprecedented level of $50,178, signaling a bullish outlook for long-term price trends. 
This major indicator removes short-term volatility, showing a bullish trend when BTC trades above it, as it currently does. Despite a post-halving dip, Bitcoin’s recovery is evident, as the 200-day moving average crossed $56,800 on April 20.&nbsp; 
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 <img fetchpriority="high" decoding="async" width="792" height="529" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/Bitcoin-200-Day-Moving-Average-Hits-All-Time-High-at-50178.png" alt="Bitcoin 200-Day Moving Average Hits All-Time High at $50K" class="wp-image-173951" style="width: 100%;height:auto" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/05/Bitcoin-200-Day-Moving-Average-Hits-All-Time-High-at-50178.png 792w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Bitcoin-200-Day-Moving-Average-Hits-All-Time-High-at-50178-768x513.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Bitcoin-200-Day-Moving-Average-Hits-All-Time-High-at-50178-330x220.png 330w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Bitcoin-200-Day-Moving-Average-Hits-All-Time-High-at-50178-420x280.png 420w, https://www.cryptotimes.io/wp-content/uploads/2024/05/Bitcoin-200-Day-Moving-Average-Hits-All-Time-High-at-50178-615x410.png 615w" sizes="(max-width: 792px) 100vw, 792px">
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 Source : BuyBitcoinWorldwide
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The 200-day Simple Moving Average (SMA), a measure that takes closing prices over 200 days into account, reduces short-term volatility. The current trading prices above this average level imply a generally bullish trend. 
In the <a href="https://woocharts.com/bitcoin-price-models/" target="_blank" rel="noreferrer noopener">WooCharts</a> drawn by the analyst Wily Woo, the 200-week moving average had a record of $34.19K, and this trend is shaping up as a strong upswing for the year. Bitcoin, by now, has been hovering around this level since mid-October.&nbsp; 
Having decreased by 100 contracts in the last 50 days, this number is slightly lower than the peak in mid-April. Signs of recovery are noticeable, such as the <a href="https://www.cryptotimes.io/2024/05/04/gbtc-sees-63m-inflows-breaking-4-month-outflow-streak/">first inflow of the Grayscale spot Bitcoin ETF</a> on May 3, indicating stronger investor bullishness. 
Bitcoin’s 200-day moving average leaping to $50,178 signals a clear bullish long-term trend, supported by technical indicators, recent market developments, and growing investor interest, indicating significant growth opportunities. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/07/bitcoin-bullish-signal-analyst-points-to-vwap-divergence/" target="_blank" rel="noreferrer noopener">Bitcoin Bullish Signal? Analyst Points to VWAP Divergence</a> 
</blockquote>

Bitcoin 200-Day Moving Average Hits All-Time High at $50,178

The Crypto Times

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