Bitcoin, Golden cross imminent…“Open up to 200,000 dollars”

Analysis has emerged that Bitcoin is approaching the 'Golden Cross', considered a medium to long-term upward signal. Keith Alan, co-founder of cryptocurrency market data platform Material Indicators, diagnosed in an interview with Cointelegraph that Bitcoin's 50-day Simple Moving Average (SMA) is likely to break above the 200-day SMA.

He added, “If Bitcoin receives a correction down to the $100,000 level, it may actually be an opportunity,” while also stating, “At this point, the likelihood of the price falling to that level is decreasing.”

Another market expert, Michaël van de Poppe, analyzed that Bitcoin is heading towards a historical peak at a faster pace than expected amid a weak dollar trend. He stated, “The continuous decline in the value of the dollar is supporting BTC's rise, and if it breaks its all-time high, there is room for an increase up to $200,000.”

Recently, the Bitcoin market continues to receive signals supporting the upward trend in both macroeconomic flows and technical indicators, with more weight given to the possibility of a rally expansion rather than a correction.