While a recent poll shows that the majority of crypto investors have never experienced a transition from a bear market into a bull run , it’s clear that’s what’s transpiring across the crypto market in recent weeks, as the price of Bitcoin continues to climb upward and away from the bottom set back in December 2018.
Now that Bitcoin price is rising once again following a full year of downtrend, the asset’s 200-week moving average – an important long-term trend strength indicator – is also again growing at a rate of 5% month over month. The growth rate also could help analysts determine where the crypto market is in terms of its transition from bear to bull. Bitcoin’s 200-Week Moving Average Growth Suggests We Are Close to Crypto Bull Run
The 200-week moving average is among the most important indicators for any trader or investor to watch, in any financial market and not just the crypto industry. If the asset’s price trades above or below the average says a lot about the strength of a long-term trend.
In Bitcoin, the vital indicator acted as support at the lowest points of the bear market , was what eventually prevented Bitcoin price from falling lower, and acted as the fuel that rocketed Bitcoin into a new bull trend .
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At the time, crypto analysts had feared a break of the 200-week moving average would call into question […]
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