Topic: Can golden cross on S & P chart trigger buying in Bitcoin? - page 2. (Read 259 times)
The S&P 500 usually gives hope to traders and motivates them to feel joyful because it gives an easy-to-follow bullish technical signal from this crossover on the price chart because most of the big rises of Bitcoin often begin with a golden cross, and this signal makes us know that the market's short-term gains have exceeded its long-term gains. It is, in fact, a prior prediction of higher prices in the long term, but perhaps not all golden crosses lead to a significant rise, and what I know is that the Bitcoin currency has witnessed eight golden crosses so far, and three of them were with gains that exceeded 100%, and in my opinion, the golden cross on bitcoin often motivate traders on entering the market and buying with fresh bids.
Golden cross is a technical analysis pattern where 50-days simple moving crosses(SMA) crosses above SMA 200, it is potentially considered as an early signal of bullish trend, and may indicate sustained uptrend in stock market This golden cross has recently occurred on S & P chat. Given the traditional correlation between stocks and Bitcoin, this may be seen as good news for Bitcoin investors and could potentially drive sustained buying in crypto currency. DYOR
https://beincrypto.com/golden-cross-sp-500-early-bitcoin-bull-market/
https://beincrypto.com/golden-cross-sp-500-early-bitcoin-bull-market/
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