Showing posts with label bitcoin rally. Show all posts
Showing posts with label bitcoin rally. Show all posts

Big Banks and Wall Street Turn To Bitcoin - Fearing Inflation Is Coming, Hoping Crypto Can Save Them...

With inflation threatening, central banks and investors are looking for new asset classes to protect their balance sheets. Enter Bitcoin, which is up 90% on the year and creeping up on its all-time high of $19,783, from January of 2018.

So, is Bitcoin the new inflation hedge? Tweet us your thought @TheCryptoPress

Video Courtesy of Bloomberg

"Golden Cross" Now Showing On Bitcoin Charts! Last Seen Before Rally From $4800 to $9300... Crypto News
Many technical analysts see the "goldren cross" as the ultimate bullish signal.

It occurs when you add lines that indicate the 200 day moving average, and another for the 50 day moving average. If the short term 50 day moving average line shoots up and crosses over the 200 day moving average, something big coming.

...Or so they say.  I've been impressed by some amazing predictions from the guys who spend all day dissecting the data - but there's also been times where all the tools they use were saying 'buy' and i'm glad I listened to my gut and didn't.

In the case of Bitcoin, the golden cross last appeared in April of 2019, and set Bitcoin on a bull run lasting 2 months and ending with gains of 190%.

So at least take this in to account along with whatever other factors you look at before deciding to buy or sale. 

Personally, I haven't put any additional funds in, but I am watching things extra-closely, HODLing what I currently have, and set some new price movement alerts in Blockfolio (great free app to track prices of any coin). If BTC is about to take off, i'll know with plenty of time to still reap most the rewards.

Author: Mark Pippen
London News Desk