Bitcoin's Golden Cross Signals Bull Market as Price Nears 20-Month Highs

Bitcoin is experiencing a significant chart feature as it prepares for its first-ever weekly golden cross, signaling the start of an early bull market. The crossover of the 50-week and 200-week moving averages (MAs) is considered a classic bullish signal and has never occurred before in Bitcoin's history. This comes after Bitcoin fell below the 200-week MA earlier this year. While some market commentators remain bearish on Bitcoin's price, others believe that considerable upside could be in store if the golden cross phenomenon plays out.