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Bitcoin's 200-Day Average Is Approaching a Record High; Here's Why It Matters.
The 200-day simple moving average is one of the most widely tracked indicators of bitcoin's long-term trend.
Bitcoin's 200-day average is on track to challenge its previous peak of $49,452 from February 2022.Past data show the most intense phase of the bull cycle unfolds after this average surpasses its previous peak.Bitcoin's (BTC) price moved into bullish territory above the 200-day simple moving average (SMA) in October, setting record highs above $73,000 last month.Now, the average, a crucial barometer of long-term trends, is also rising fast in a sign of strong bullish momentum and appears set to surpass its previous peak of $49,452 in February 2022. At press time, bitcoin traded at $66,200, with the 200-day average at $47,909.That's noteworthy for traders as past data show the most intense phase of the bullish cycle unfolds after the average surpasses its previous peak to new lifetime highs.In early November 2020, six months after the third halving, bitcoin's 200-day SMA rose to its then-highest above $10,320. By mid-April 2021, bitcoin had rallied 4.5 times to $63,800.$BTC
The cryptocurrency surged over 2000% to nearly $20,000 in 12 months after the average set new highs in December 2016, or five months after the second halving. A similar meteoric rally unfolded after the average rose to a new peak in November 2012, around the time of the first halving.As always, past data is no guarantee of future results.That said, some features of the past cycles have been repeated to a T. For instance, BTC's bear market climaxed in November 2022, and prices rose in subsequent months, which aligns with the historical pattern of bottoming out to start a new rally 15 months ahead of the halving. Bitcoin blockchain implemented the fourth mining reward halving on Saturday, reducing the per-block coin emission to 3.125 $BTC from 6.25 $BTC .Most analysts are of the view that rising government debt concerns will eventually force the U.S. Federal Reserve (Fed) to cut interest rates rapidly, keeping risk assets, including cryptocurrencies, in an uptrend
Bitcoin's 200-day average is on track to challenge its previous peak of $49,452 from February 2022.Past data show the most intense phase of the bull cycle unfolds after this average surpasses its previous peak.Bitcoin's (BTC) price moved into bullish territory above the 200-day simple moving average (SMA) in October, setting record highs above $73,000 last month.Now, the average, a crucial barometer of long-term trends, is also rising fast in a sign of strong bullish momentum and appears set to surpass its previous peak of $49,452 in February 2022. At press time, bitcoin traded at $66,200, with the 200-day average at $47,909.That's noteworthy for traders as past data show the most intense phase of the bullish cycle unfolds after the average surpasses its previous peak to new lifetime highs.In early November 2020, six months after the third halving, bitcoin's 200-day SMA rose to its then-highest above $10,320. By mid-April 2021, bitcoin had rallied 4.5 times to $63,800.$BTC
The cryptocurrency surged over 2000% to nearly $20,000 in 12 months after the average set new highs in December 2016, or five months after the second halving. A similar meteoric rally unfolded after the average rose to a new peak in November 2012, around the time of the first halving.As always, past data is no guarantee of future results.That said, some features of the past cycles have been repeated to a T. For instance, BTC's bear market climaxed in November 2022, and prices rose in subsequent months, which aligns with the historical pattern of bottoming out to start a new rally 15 months ahead of the halving. Bitcoin blockchain implemented the fourth mining reward halving on Saturday, reducing the per-block coin emission to 3.125 $BTC from 6.25 $BTC .Most analysts are of the view that rising government debt concerns will eventually force the U.S. Federal Reserve (Fed) to cut interest rates rapidly, keeping risk assets, including cryptocurrencies, in an uptrend
FTX founder Bankman-Fried charged with paying $40 million bribe.
FTX founder Sam Bankman-Fried was charged with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business.
FTX founder Sam Bankman-Fried was charged with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business in a newly rewritten indictment unsealed Tuesday.
The charge of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act raises to 13 the number of charges Bankman-Fried faces after he was arrested in the Bahamas in December and brought to the United States soon afterward. The indictment was returned on Monday.
The charge also contains language revealing that a fifth arrest was imminent in what US Attorney Damian Williams has repeatedly described as a continuing investigation. That unidentified individual, according to the indictment, participated in the bribery conspiracy with Bankman-Fried and “will be arrested in the Southern District of New York.”
FTX filed for bankruptcy on November 11, when it ran out of money after the equivalent of a bank run on the global cryptocurrency exchange. He has remained free on a $250 million personal recognizance bond that lets him stay with his parents in Palo Alto, California.
He has pleaded not guilty to charges that he cheated investors out of billions of dollars before his business collapsed
FTX founder Sam Bankman-Fried was charged with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business.
FTX founder Sam Bankman-Fried was charged with directing $40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business in a newly rewritten indictment unsealed Tuesday.
The charge of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act raises to 13 the number of charges Bankman-Fried faces after he was arrested in the Bahamas in December and brought to the United States soon afterward. The indictment was returned on Monday.
The charge also contains language revealing that a fifth arrest was imminent in what US Attorney Damian Williams has repeatedly described as a continuing investigation. That unidentified individual, according to the indictment, participated in the bribery conspiracy with Bankman-Fried and “will be arrested in the Southern District of New York.”
FTX filed for bankruptcy on November 11, when it ran out of money after the equivalent of a bank run on the global cryptocurrency exchange. He has remained free on a $250 million personal recognizance bond that lets him stay with his parents in Palo Alto, California.
He has pleaded not guilty to charges that he cheated investors out of billions of dollars before his business collapsed
