Bitcoin 'Bear Cross' Raises Outlook for Bull Revival
— Bitcoin, Moving, Bear, Past, Averages, Cross, Wrong, Market, Raises, Crossover — 1 min read
Three-day candlestick chart shows the simple moving average (SMA) of the past 100 candlesticks is on the verge of crossing below the 200-candle SMA. The crossover has marked an end of bear markets and paved the way for notable bull runs. Bitcoin (BTC) bottomed near $3,200 and spent the following three months building a base for a rally. The first bear cross, dated June 2012, also trapped sellers on the wrong side of the market. The U.S. Federal Reserve's hawkishness, or anti-stimulus stance, appears to have peaked and traders are now pricing interest rate cuts for 2023. Bitcoin hit a high of $13,800 by the end of June 2019 Source