Bitcoin hits golden cross, a bullish signal, trading at $78,650
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Bitcoin just hit its "golden cross" moment, a widely-tracked bullish signal.
This happens when the 50-day moving average crosses above the 200-day one, hinting at stronger short-term momentum.
Right now, Bitcoin sits at $78,650, down slightly since midnight.
Bitcoin's golden crosses show mixed returns
This is Bitcoin's 13th golden cross, but history shows mixed results.
Only three times did it spark year-long rallies with huge returns (about 250%), while most others led to short bursts of optimism and smaller gains around 24.9% over three months.
So while it sounds cool, don't count on instant riches, especially as Bitcoin is currently trading at $78,650, down 0.6% since midnight UTC.