The Bitcoin community collectively facepalmed after BTC fell back below $10,000. It was the result of an $800 crash that took place over the course of one hour, the fifth-largest one-hour drop ever recorded. But some analysts are calling for an unprecedented rally ahead of the pending halving. This is largely due to the appearance of a “golden cross,” when the 50-day moving average crosses the 200-day moving average. In today’s market terms, that calls for a BTC price of $26,000 before the next halving.
Binance co-founder CZ is also optimistic about price gains within the same timeframe. He said previous halvings have seen rises and the next halving doesn’t appear to be priced in yet — perhaps Bitcoin bulls still have more to look forward to.
Joseph Spezzano received a Masters Degree in computer science from The University of Massachusetts. Joseph has been working as a full-time blockchain programmer for the past 5 years. In his spare time, Joseph enjoys writing for CryptocurrencyInvestments.com and traveling.