Bitcoin

Bitcoin Golden Cross Could Be Just 5 Days Away, Will BTC Price Hit $50K This Month?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Aug 9, 2021

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Highlights

    Bitcoin price after a slight pullback to $42,700 resumed the bull run to trade above $44000

    As the Golden Cross event is expected to occur much earlier than expected, the possibilities of BTC price smashing $50,000 rises

The crypto space currently appears to have flipped the bears as the reversal is perfectly back on track. Where many assets followed a slight pullback in the early trading hours, a flip towards an uptrend nullified the bearish trend. Currently, the BTC price is heading strongly towards $45,250, the next resistance level. And a substantial jump close to $50,000 may be imminent if this resistance is held strongly. 

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The most crucial resistance levels for Bitcoin were around the 200-MA at $44,941 which were smashed and the price rallied above $45,800. However, the path towards $50,000 appears to be clear as the next resistance at $46,000 is an inch close. 

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After the deadly death cross, the crypto space is largely waiting for the bullish Golden Cross event. As Bitcoin had adopted a steady rally, the event was speculated to occur somewhere by the end of August or mid-September. But one of the popular analysts, RektCapital, predicts the Golden Cross is just 5 days away. 

However, after the Golden Cross event with Ethereum just a moment ago, Bitcoin could be the next on cards. While ETH price rose remarkably, BTC price is also expected to hit $50,000 in the coming days. Also, the possibility of the price forming new ATH by this month-end cannot be ruled out, if the price rally accelerates.

Also Read: Shiba INU Price Could Fly High Very Soon, 38% Fib Levels Appears Imminent!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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