RATE Group | Bitcoin Price ‘Golden Cross’ Hints at 170% Rally to $26K by Halving
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Bitcoin Price ‘Golden Cross’ Hints at 170% Rally to $26K by Halving

18 Feb Bitcoin Price ‘Golden Cross’ Hints at 170% Rally to $26K by Halving

Posted at 09:35h in Bitcoin News by

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Bitcoin (BTC) can hit $26,000 in just two months thanks to a bullish event that previously triggered 170% price gains.

As noted by Cointelegraph Markets analyst, Keith Wareing, on Feb. 18, this week saw Bitcoin’s ascending 50-day moving average cross over its 200-day moving average.

Bitcoin 1-year price chart with 50 and 200-day moving average. Source: TradingView 

Known as a “golden cross,” the phenomenon is a rare occurrence for the cryptocurrency. Despite BTC/USD shedding almost $1,000 in recent days, Wareing is anything but bearish on short-term profit potential.

“Last time this happened #Bitcoin pumped 170% in under 60 days,” he summarized on Twitter.

Wareing added that at press-time levels of around $9,800, Bitcoin had retained support in an overall bullish ascending price triangle. 

That sentiment was echoed by fellow Cointelegraph Markets analyst, Michaël van de Poppe. 

“And so, we’ve bounced on the green area around $9,450-9,500. That was heavily needed,” he

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