Bitcoin is making history with the formation of its first-ever Golden Cross, a significant event that could potentially lead to a new all-time high for cryptocurrency. This rare crossover between key moving averages is seen by many analysts as a bullish signal, indicating that Bitcoin might be on the verge of a major price surge.
Crypto Expert Predicts Major Bitcoin Surge
Crypto analyst Titan of Crypto says Bitcoin might be on the verge of a massive price jump. He pointed out that a rare “Golden Cross” is forming on the Bitcoin chart, where the 100-day and 200-day moving averages are crossing.
Biggest Bull Run Yet?
According to the analyst, this event could lead to the biggest Bitcoin rally we’ve ever seen, possibly pushing Bitcoin to reach and even exceed its current all-time high.
Bitcoin’s Price Could Hit $120,000 According to a chart shared by a crypto analyst, if the Golden Cross is successful, Bitcoin’s price could soar to $120,000. This aligns with other predictions, including one from Mikybull Crypto, who suggests that Bitcoin might even reach between $138,000 and $150,000 in this bull run.
First-Ever Weekly Golden Cross Titan of Crypto isn’t the only one talking about the Golden Cross. Another analyst, Crypto Jelle, pointed out that Bitcoin is forming a weekly Golden Cross for the first time ever. He explained that this crossover of the 100-week and 200-week moving averages is usually a bullish sign in traditional markets. If it plays out for Bitcoin, it could push the price to a new all-time high of $90,000.
Headline: Positive Predictions Give Hope Amid Bitcoin’s Uncertain Price Movement
These predictions are giving some relief to the crypto community, which has been dealing with Bitcoin’s slow and shaky price action lately. Bitcoin has been fluctuating around the
$60,000 mark, causing worries that the bull run might be over and that a new all-time high may not happen in this market cycle.
“The Best Is Yet To Come”
Mikybull Crypto recently shared in an X post that the best is still ahead for Bitcoin, hinting that the crypto has more growth potential in this market cycle. He emphasized the importance of being patient and mentioned that the next big move in the fourth quarter of this year could be “explosive.”
The chart Mikybull Crypto shared predicts that Bitcoin could rise to $120,000 between October and January 2025. This prediction reflects the high hopes the crypto community has for Bitcoin and the broader market as we approach the fourth quarter of the year. Analysts from Bernstein also believe that if the US Federal Reserve cuts interest rates at its September meeting, it could be the trigger for Bitcoin to start rising again.
Reference: Bitcoinist
