The day moving average (MA) of bitcoin’s price looks set to cross above the day MA within two to three days. The resulting “golden crossover,” a long-term bull market indicator, would. If you have been following the news lately, then Bitcoin recently achieved a skyrocketing growth in a short time. If you don’t know, Bitcoin recently crossed its all-time high-figure of $19, and touched the figure of $33, as of January 5th, Forbes made a very close prediction of this upscale way back in January Right now, Bitcoin has a total market capitalization value of. Golden Markets · GoldFxTrading Bitcoin find a broker that Forex Review Find Brokers List | Avoid Markets have a very in breach of European by Cool Not just in EU Pakistan Golden Markets | Cryptocurrencies currencies, including on Bitcoin, - Is timberlandschuheherren.de scam Golden Markets. € million cryptocurrency market, the Golden Trading Scams.
Golden markets bitcoinLookIntoBitcoin | The Golden Ratio Multiplier
The multiples reference the Golden Ratio 1. These are important mathematical numbers. These specific multiplications of the DMA have been very effective over time at picking out intracycle highs for Bitcoin price and also the major market cycle highs. As Bitcoin becomes adopted over time, it's market cycle highs hit decreasing Fibonacci sequence multiples of the DMA. This is because the explosive growth of Bitcoin on a logarithmic scale is slowing over time.
As it's market cap increases it becomes more difficult for the same log scale growth rates to continue. If this decreasing Fibonacci sequence pattern continues to play out as it has done over the course of the past 9 years, then the next market cycle high will be when price is in the area of the DMA x3. The Golden Ratio Multiplier is an effective tool because it is able to demonstrate when the market is likely overstretched within the context of Bitcoin's adoption curve growth and market cycles.
For more information on the indicator see the link below. Any information on this site is not to be considered as financial advice. So far, however, that has failed to invite buyers in numbers. A UTC close above the Nov. A violation there would validate the bearish inverted hammer created on Dec. The outlook as per the weekly chart would turn bullish if and when the four-month falling channel is breached to the higher side.
The widely followed, but lagging, indicator may fail to attract buyers as broader market conditions are currently bearish. Subscribe to Blockchain Bites , our daily update with the latest stories. Read more about Prices Bitcoin Markets. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups.