bullish

2024

Bitcoin

when

<p>While Bitcoin seems to be on a solid upward trajectory, bullish signals are popping up everywhere. But before getting too excited, it’s important to take a step back: the famous “golden cross” is about to occur, but its effectiveness might well be overstated. This phenomenon, where the 50-day moving average crosses the 200-day moving average, has left a bitter taste during certain past episodes. Let’s see why it’s necessary to be cautious.</p>
<h2 id="h-le-golden-cross-signal-bullish-ou-mirage-ephemere">The “Golden Cross”: Bullish signal or ephemeral mirage?</h2>
<p>Crypto traders often get excited about <strong>the golden cross, which usually signals a potential bullish trend</strong>. But such enthusiasm is not always justified. Certainly, the crossing of the 50 and 200-day moving averages indicates that <strong>recent rises in the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">price of Bitcoin</a> (BTC) have gained momentum</strong>.</p>
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     <p lang="no" dir="ltr"><a href="https://twitter.com/hashtag/BITCOIN?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BITCOIN</a> GOLDEN CROSS ALERT!<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/d9fKlKkWud" rel="noopener noreferrer nofollow">pic.twitter.com/d9fKlKkWud</a></p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1850835397821251791?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 28, 2024</a>
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<p>However, <a href="https://u.today/bitcoin-seeing-golden-cross-that-doesnt-matter-heres-why" target="_blank" rel="noopener noreferrer nofollow">this signal</a> remains a lagging indicator: it reflects the past without predicting the future.</p>
<p>In fact, the results from previous golden crosses on Bitcoin have been mixed:</p>
<ul>
 <li><strong>Sometimes, a strong rise followed the signal;</strong></li>
 <li><strong>At other times, the price remained stable;</strong></li>
 <li><strong>In some cases, it even fell shortly after.</strong></li>
</ul>
<p>The volatility of crypto, combined with its acute sense of unpredictability, makes interpreting this signal tricky.</p>
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<h2 id="h-traders-crypto-attention-aux-pieges-de-l-optimisme">Crypto Traders: Beware of the Traps of Optimism!</h2>
<p>Less experienced crypto traders may be tempted to jump on the opportunity, without understanding the limitations of the indicator. The <strong>golden cross often attracts speculative buying</strong>, fueling short-term volatility impacting the <a href="https://www.cointribune.com/comment-acheter-du-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">purchase of BTC</a>. However, this <strong>does not guarantee a change in trend over the long term.</strong></p> 
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<p>In reality, the market also reacts to macroeconomic factors, overall sentiment, and on-chain data. Therefore, <strong>relying solely on the golden cross can be risky</strong>, especially when ambient instability takes over.</p>
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<p>Finally, let’s not forget that in February 2023, <a href="https://www.cointribune.com/bitcoin-btc-un-golden-cross-en-approche/" target="_blank" rel="noopener noreferrer nofollow">a similar golden cross</a> sparked heated debates. Some saw it as a buy signal while others remained skeptical, reminding us that caution is the mother of safety in the trading world.</p>

Bitcoin Reaches A “Golden Cross”, But Analysts Remain Skeptical

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