Cryptocurrency

Bitcoin

<div class="finbold">
 <p class="paragraph">Bitcoin’s (BTC) value has threaded among the $40,000 to $45,000 range, unable to surpass the crucial resistance level amidst prolonged consolidation in the overall market.&nbsp;</p>
 <div></div>
 <p class="paragraph">Nevertheless, Bitcoin’s technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> indicates the potential for the asset to embark on another all-time high, drawing insights from historical price movements.</p>
 <p class="paragraph">Specifically, the flagship cryptocurrency looks set to conclude its first-ever <a rel="noopener noreferrer nofollow" title="weekly" href="https://thebittimes.com/tag/weekly.html">weekly</a> golden cross pattern—a bullish long-term price signal.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="559" src="https://cdn.thebittimes.com/images/2023/12/22/8176debea9424d03717a9be180a02735.webp" alt="Bitcoin 50-week SMA to 200-week SMA ratio chart. Source: TradingView
" class="wp-image-144783" srcset="https://cdn.thebittimes.com/images/2023/12/22/8176debea9424d03717a9be180a02735.webp 1024w, https://cdn.thebittimes.com/images/2023/12/22/8176debea9424d03717a9be180a02735.webp 300w, https://cdn.thebittimes.com/images/2023/12/22/8176debea9424d03717a9be180a02735.webp 768w, https://cdn.thebittimes.com/images/2023/12/22/8176debea9424d03717a9be180a02735.webp 1512w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin 50-week SMA to 200-week SMA ratio chart. Source: TradingView
  </figcaption>
 </figure>
 <p class="paragraph">A golden cross transpires in any market when the 50-day moving average rises above the 200-week moving average. Observing the Bitcoin market cap, the inaugural golden cross is anticipated this week, provided BTC does not experience a substantial drop between now and December 25.</p>
 <div class="not-prose relative overflow-auto scrollbar-hide mb-8 mt-8">
  <div class="relative w-full flex gap-6 snap-x snap-mandatory overflow-x-auto">
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/22/6594b38136ddff5baa2c93bb5884bd92.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="when-to-buy-altcoins-crypto-expert-reveals">When to buy altcoins? Crypto expert reveals</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/22/83c57457963616776c28d30d8bea8da6.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="china-cracks-down-on-game-coin-trading-mandates-cbdc-wallets">China cracks down on game coin trading, mandates CBDC wallets</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/22/3ce7d72d28f7cc596e10c1fa7cead796.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="argentina-s-foreign-minister-says-contracts-can-be-settled-in-bitcoin">Argentina’s foreign minister says contracts can be settled in Bitcoin</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/22/1d5497cb639d5f48a55b1d8ac47c38ac.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="bitcoin-transaction-fees-at-yearly-highs-what-s-next-for-btc">Bitcoin transaction fees at yearly highs; What’s next for BTC?</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
   <div class="max-w-[300px]">
    <div class="py-0 first:pt-0 last:pb-0">
     <div class="flex gap-x-4">
      <div class="shrink-0  w-24"><img data-src="https://cdn.thebittimes.com/images/2023/12/22/6cc9df94044a11b667b0030161662d7f.webp" alt class=" w-full rounded-md lazy">
      </div>
      <div>
       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="io-net-successfully-launches-bc8-ai-platform">io.net successfully launches BC8.AI platform</h3>
       <div class="sm:flex gap-x-3 mt-2">
       </div>
      </div>
     </div>
    </div>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <p class="paragraph">Bitcoin’s price has encountered recent volatility, and the golden cross is interpreted as an optimistic indicator of the asset’s price trajectory.</p>
 <h2 class="wp-block-heading" id="h-start-of-btc-bull-run">Start of BTC bull run?</h2>
 <p class="paragraph">As noted before, when the 50-day SMA surpasses the 200-day SMA of a digital asset, it usually forecasts the start of a bullish period in the near future.</p>
 <p class="paragraph">As history tends to repeat itself, the BTC price movement is not an exception; looking back at the previous periods can tell us a lot about the potential future price movements, as per a post from crypto analyst <em>TAnalyst</em> on December 22.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="999" src="https://cdn.thebittimes.com/images/2023/12/22/08353a673ea132885f3f16344561576a.webp" alt="Bitcoin's historical price pattern and its possible repetition chart. Source: TAnalyst
" class="wp-image-144784" srcset="https://cdn.thebittimes.com/images/2023/12/22/08353a673ea132885f3f16344561576a.webp 1024w, https://cdn.thebittimes.com/images/2023/12/22/08353a673ea132885f3f16344561576a.webp 300w, https://cdn.thebittimes.com/images/2023/12/22/08353a673ea132885f3f16344561576a.webp 768w, https://cdn.thebittimes.com/images/2023/12/22/08353a673ea132885f3f16344561576a.webp 1536w, https://cdn.thebittimes.com/images/2023/12/22/08353a673ea132885f3f16344561576a.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin’s historical price pattern and its possible repetition chart. Source: TAnalyst
  </figcaption>
 </figure>
 <p class="paragraph">The expectation is that the upcoming Bitcoin halving, scheduled for 2024, might initiate the start of a fresh market cycle.</p>
 <h2 class="wp-block-heading" id="bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">At the time of press, BTC was trading at $43,599, representing a decrease of -0.90% in the past 24 hours, contrary to the gains made on a <a rel="noopener noreferrer nofollow" title="weekly" href="https://thebittimes.com/tag/weekly.html">weekly</a> chart of 2.29% and 19.23% on the monthly chart, respectively.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/22/5ebde5513c8eec45b5aacb5680dc065c.webp" alt="Bitcoin 7-day price chart. Source: Finbold
" class="wp-image-144785" srcset="https://cdn.thebittimes.com/images/2023/12/22/5ebde5513c8eec45b5aacb5680dc065c.webp 1024w, https://cdn.thebittimes.com/images/2023/12/22/5ebde5513c8eec45b5aacb5680dc065c.webp 300w, https://cdn.thebittimes.com/images/2023/12/22/5ebde5513c8eec45b5aacb5680dc065c.webp 768w, https://cdn.thebittimes.com/images/2023/12/22/5ebde5513c8eec45b5aacb5680dc065c.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin 7-day price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">According to technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> from <em>TradingView</em>, indicators point towards a bullish sentiment in other areas. A summary of the one-day metrics indicates a buy signal with a rating of 13, aligning with the score for moving averages. Meanwhile, oscillators indicate a sell signal with a rating of 3.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="241" src="https://cdn.thebittimes.com/images/2023/12/22/3b768d7d2119ffa3e89905f100570498.webp" alt="Bitcoin 24-hour technical analysis. Source: TradingView
" class="wp-image-144786" srcset="https://cdn.thebittimes.com/images/2023/12/22/3b768d7d2119ffa3e89905f100570498.webp 1024w, https://cdn.thebittimes.com/images/2023/12/22/3b768d7d2119ffa3e89905f100570498.webp 300w, https://cdn.thebittimes.com/images/2023/12/22/3b768d7d2119ffa3e89905f100570498.webp 768w, https://cdn.thebittimes.com/images/2023/12/22/3b768d7d2119ffa3e89905f100570498.webp 1497w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin 24-hour technical analysis. Source: TradingView
  </figcaption>
 </figure>
 <p class="paragraph">Whether these positive technical and historical indicators will be an optimistic sign of things to come remains to be seen.</p>
 <p class="paragraph"><strong><em>Disclaimer: </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-set-for-first-ever-weekly-golden-cross-start-of-btc-bull-run-tbt74523.html">https://thebittimes.com/bitcoin-set-for-first-ever-weekly-golden-cross-start-of-btc-bull-run-tbt74523.html</a></p>

Bitcoin set for first-ever weekly Golden Cross; Start of BTC bull run?

Tabla de contenidos

TheBitTimes

Otros artículos publicados el 22 dic 2023

XRP's Price Nears $0.63 as Whales Mobilize Massive Token Transfers

Solana Soars, but Technicals Hint at 40% Price Dive in 2024: Should You Hold?

Worldcoin Back in The Headlines Following 67% Rally, This Week’s Top Cryptos Assessed

Trade Between BRICS Countries To Reach $500 Billion

Ethereum Price Prediction as Bear Trap Points to 10% Surge Ahead

Argentina Embraces Bitcoin: Contracts Now Tradable in Cryptos

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!