External analysts suggest that Bitcoin (BTC) is gearing up for an early bull market as a historic chart pattern unfolds. These third party crypto researchers highlighted a significant milestone for Bitcoin on Dec. 7, during which the first-ever weekly golden cross occurred.
Based on external analysis and data gathered from respectable resources, this piece will discuss Bitcoin’s transition to the Golden Cross and its look at the discussions that crypto pundits are having regarding its potential impact on other cryptocurrencies.
In a later stage, this article will also do a brief new crypto coin roundup, showcasing some of the latest tokens and trends in the blockchain space right now, including ApeMax and its world’s first boost-to-earn staking protocol.
What you'll learn 👉
Bitcoin’s transition from Death Cross to Golden Cross in 10 months:
The recent upward movement in BTC prices was celebrated by various Bitcoin enthusiast groups. BTC has also marked a noteworthy 158.5% year-to-date gain. What’s catching the attention of traders and analysts is the potential occurrence of a crossover between two critical weekly moving averages (MAs), signaling an upcoming bull market.
It seems that the strength in Bitcoin’s price is driving the 50-week MA towards a golden cross with the 200-week counterpart. Termed a “golden cross,” this classic bullish signal on lower time frames suggests significant upside potential if the trend continues. External analysts dubbed this period an “early bull market.”
New Crypto Coin Round Up:
Amidst chatter of a possible bull run spearheaded by rising BTC prices, analysts are also observing greater interest in altcoins across the board. While established alt coins persist in their popularity, new alt tokens are also gaining traction prior to a possible altcoin season or altcoin rally.
Top New Crypto Coins:
- ApeMax (APEMAX) – ApeMax is the World’s first boost-to-earn coin, pioneering a new form of staking utility that’s generating buzz. ApeMax tokens are now available for purchase for a limited time at presale by eligible buyers.
- Ordinals Coin (ORDI) – A somewhat controversial token within the crypto community, ORDI is a leading BRC-20 token deployed not on Ethereum but rather on the Bitcoin Ordinals Protocol.
- Worldcoin (WLD): Worldcoin pioneers the proof-of-personhood protocol to combat online botting. Co-founded by OpenAI’s Sam Altman, this token also relies on external hardware.
Debate regarding Bitcoin Bears and Bulls?
Despite the optimism surrounding Bitcoin’s surge to $44,000, not all market commentators share a bullish outlook. Some analysts disclosed a short BTC position as Bitcoin surpassed $43,000.
According to them, a retreat to the low $20,000 range could be on the horizon, pointing to exhausted buyer momentum and the influence of powerful sellers.
What’s next for Bitcoin price?
At the time of writing, Bitcoin hovered near $43,000, having breached this crucial level on Monday, with a marginal 0.15% gain to $41,866. While the excitement over Bitcoin crossing $42,000 continues across crypto platforms, some technical indicators, such as the Relative Strength Index (RSI), suggest a potential cooldown.
As Bitcoin’s golden cross unfolds, the crypto market remains dynamic, with contrasting opinions on the token’s future trajectory. The next few weeks will be crucial in determining whether or not a bullish trend will persist.
Popular Meme Coins Ahead of the Bitcoin Bull Run:
Bitcoin isn’t the only popular cryptocurrency during the current market period. Meme coins are also seeing a comeback. Here’s a list of some exciting meme coins beyond Dogecoin:
Exciting Meme Coins before Bitcoin Bull Run:
- Pepe Coin – Rising star amongst new 2023 meme coins and inspired by the infamous green cartoon frog character.
- ApeMax – Earn token rewards by boosting your favorite entities in a fun and decentralized way with ApeMax.
- Shiba Inu – Younger Dogecoin rival which launched prior to the previous bull run and which now spans an entire ecosystem.
- Wall Street Memes – Young meme token launched at presale and drawing inspiration in part by the WSB movement and fun memes.
Has the crypto bull run started?
Bitcoin has surged by over 150% this year, giving optimism to many enthusiasts that the upward momentum will continue into 2024. This has led a number of industry leaders in the crypto space to discuss the possible start of a new bullish trend.
How does Bitcoin affect other cryptocurrencies?
It’s a common occurrence for many coins and tokens to follow similar trajectories. When the value of Bitcoin (BTC), the largest cryptocurrency by market cap, experiences an upswing, other major altcoins tokens tend to witness increases in value.
Conversely, if BTC undergoes a decline, it is likely that other cryptocurrencies will also witness decreases. However, this is not always the case and crypto coin prices are not always correlated or linked. It’s a must to understand that all coins are very volatile and can go up or down unpredictably.
Outlook of Bitcoin and Other Crypto in 2024
As Bitcoin marks a historic transition from a Death Cross to a Golden Cross, sparking optimism of an early bull market, the crypto landscape is abuzz with discussions on potential impacts on other cryptocurrencies. While the debate between Bitcoin bears and bulls ensues, a new wave of interest in altcoins is evident, with rising stars like ApeMax pioneering a boost-to-earn staking protocol, offering a glimpse into the evolving dynamics of the crypto market.
As the crypto community watches Bitcoin’s trajectory, the next weeks will be pivotal in determining whether the golden cross sets the stage for a sustained bullish trend or if contrasting opinions on its future persist.
While many external analysts predict a bullish trend, readers should remain cautious as the future is unpredictable. This article does not offer financial advice. As the crypto landscape continues to evolve, staying informed about market trends, regulatory changes, and the real risks affecting crypto coins remains vital.
All crypto coins experience great price volatility, and its important to grasp that crypto coins are suitable for all persons. Those eyeing ApeMax can visit the coin’s official website to get acquainted with the tokn’s buying restrictions and rules prior to thinking about a purchase.
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