Bitcoin might have hit a bottom, accoridng to the latest reports. Check out the news about an important signal that might have flashed that Bitcoin hit its bottom.
It’s been just revealed that the crypto analyst Benjamin Cowen said that one simple indicator with a history of calling Bitcoin bottoms is close to doing so again.
During a new strategy session, Cowen takes a look at the 20-week and 100-week simple moving average (SMA) combo on Bitcoin.
It’s been revealed that both SMAs are close to converging. It’s also worth noting the fact that Cowen pointed out that they’ve only ever crossed twice in Bitcoin history, both times marking the bottom of a BTC correction.
“There are two times in history, only two times, where the 20-week SMA crossed below the 100-week… and you might wonder, why does this matter, who really cares, they’re just moving averages, they’re lagging indicators blah blah blah. But let us look to see, was there any significance to the crossing of these two moving averages?”
Check out the original article posted by the Daily Hodl in order to learn more details about all this.
Regarding Bitcoin’s price today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $39,520.
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Bitcoin’s popularity is growing, and more big names out there are noticing this. Check out the latest reports about BTC’s growing popularity.
Regarding BTC’s price today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $39,563.
Macro strategist Lyn Alden has recently said that Bitcoin (BTC) will surpass all other digital currencies to become the dominant form of money.
In a new interview with the What Bitcoin Did podcast, Alden explained the fact that the race for dominance is between BTC and central bank digital currencies (CBDCs).