Bitcoin tops $73,656.14 on August 20 as golden cross debated
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Bitcoin is back in the spotlight after crossing $72,000 and hitting $73,656.14 as of August 20.
Crypto watchers are buzzing about a possible "golden cross": that's when Bitcoin's 50-day moving average climbs above its 200-day moving average.
This pattern usually signals strong long-term growth vibes.
Bitcoin jumps 12% above 200-day average
In just a week, Bitcoin jumped over 12% and is trading above its key 200-day average, a level that often hints at bullish trends.
But here's the catch: since October last year, it mostly stayed below this line.
Bitcoin's move above the 200-day mark can signal a shift from a bear market to a bull market; a decisive move back below it could invalidate the case that bitcoin's longer-term trend has turned bullish.