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>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <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>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<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>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://coinbase-consumer.sjv.io/c/2801338/552039/9251" target="_blank" rel="noopener noreferrer nofollow">Your 1st cryptos with Coinbase</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<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> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<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>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitpanda.pxf.io/c/2801338/1295465/15871" target="_blank" rel="noopener noreferrer nofollow">Your 1st cryptos with Bitpanda</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<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

Table of Contents

Cointribune EN

Other articles published on Oct 29, 2024

Could Robinhood’s U.S.-Only Election Market Predict Results Better by Excluding Foreign Influence?

LBank and 13Desk Present “Sunset Soiree” in Bangkok – An Exclusive Devcon 2024 Side Event

Vitalik Buterin Aims for Sub-2 Second Transfers Between Chains in Ethereum’s Future

MANTRA Partners With Google Cloud for RWA Tokenization

XRP Vs SEC Battle Unsettles Whales As They Seek Refuge In A Sure Bet ERC20 Altcoin Set To Moon

Are Meme Coins on XRPL Under SEC Scrutiny? Regulatory Risks on the Rise

Join our free newsletter for daily crypto updates!