According to Chris Kuiper, who holds the position of Vice President for Research at Fidelity Digital Assets, he anticipates that Bitcoin’s death cross will reverse into a golden cross if its price continues to stay above the crucial $93,000 mark.
As stated by Kuiper, a significant golden cross in Bitcoin occurred on April 7th, and since then, the digital currency has experienced a 33% increase.
The last golden cross recorded by Bitcoin managed to push the price of the cryptocurrency by 13%.
As a researcher, I’ll persistently keep an eye on this developing pattern since it appears the market might be gearing up for its upcoming transformation.
In October 2023, the formation of a golden cross led to a dramatic 80% increase in Bitcoin’s price. Starting at $35,000, Bitcoin soared all the way up to $61,000.
The appearance of the golden cross in October 2023 triggered an impressive 80% rise in Bitcoin’s value, causing it to jump from $35,000 to $61,000.
As per CoinGecko’s latest figures, a single Bitcoin is being traded for approximately $108,622 following a 2.6% decrease in value over the last day.
On Thursday, the Bitcoin price reached its current all-time high of $111,814.
After the latest increase in trade disputes between the U.S. and the EU, Bitcoin has scaled back a portion of its recent price increases.
This month, I’ve been considering the perspective shared by Kuiper, suggesting that we’re currently in Bitcoin’s ‘acceleration phase.’ Interestingly, Fidelity predicts that a potential price surge could be fueled if Bitcoin reaches and holds the $110,000 level.
Notably, the November 2021 peak was the only time when a second rally would fail to take place.
Currently, the rally is being fueled by continuous investments into Exchange-Traded Funds (ETFs), indicating robust institutional involvement. At present, individual investors (retail) are generally not participating heavily in the market.
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2025-05-23 20:51