Crypto analyst Titan of Crypto has identified an indicator that suggests a highly bullish outlook for Bitcoin (BTC), hinting at a potential surge to its current all-time high (ATH) and beyond. The indicator in question is the formation of a Golden Cross on the Bitcoin chart, specifically between the 100-day and 200-day moving averages, a phenomenon never before seen in the crypto market. Titan of Crypto believes that if this Golden Cross is successful, it could catalyze the most explosive bull run in Bitcoin’s history.
The chart shared by the analyst indicates that a successful Golden Cross could propel Bitcoin’s price to as high as $120,000, aligning with predictions made by other analysts such as Mikybull Crypto, who suggested optimal targets between $138,000 and $150,000 for Bitcoin in the current bull run. This positive sentiment is further reinforced by Crypto analyst Crypto Jelle, who also highlighted the formation of a weekly Golden Cross on Bitcoin’s chart for the first time ever. According to Crypto Jelle, this crossover between the 100-week and 200-week moving averages could potentially push Bitcoin’s price to $90,000, marking a new ATH for the cryptocurrency.
These analyses come as a source of reassurance for the crypto community, which has been grappling with Bitcoin’s lackluster price performance hovering around $60,000, leading to concerns that the bull run may have reached its peak and that a new ATH might be out of reach in the current market cycle. However, analysts like Mikybull Crypto remain optimistic, emphasizing that the best is yet to come for Bitcoin and that the crypto still has significant room to grow in the ongoing market cycle. Mikybull Crypto anticipates an explosive move in the fourth quarter of the year, with Bitcoin potentially reaching $120,000 between October and January 2025.
The broader crypto market outlook heading into the fourth quarter is also buoyed by expectations surrounding the US Federal Reserve’s potential interest rate cuts at its September FOMC meeting. Analysts believe that such a move could be pivotal in reinvigorating bullish sentiment in the market, with Bernstein analysts asserting that the Fed’s decision is crucial for Bitcoin to regain its bullish momentum.
In conclusion, the formation of a Golden Cross on Bitcoin’s chart and the positive price predictions from various analysts signal a potentially lucrative period ahead for the flagship cryptocurrency. With the prospect of Bitcoin surging to new ATHs and beyond, investors and enthusiasts are eagerly awaiting the unfolding developments in the crypto market, particularly in the fourth quarter of the year. As the market dynamics continue to evolve, all eyes are on Bitcoin and its potential for further growth and price appreciation in the coming months.
