The Last 3 Times This MA Cross Took Place Bitcoin Price Rallied 42%
Popular bitcoin commentator Lark Davis, who goes by the name of ‘TheCryptoLark” on Twitter, just shared a BTC trend chart that has ‘bullish’ written all over it.
Lark says that the top cryptocurrency is on the cusp of crossing the 50-day moving average, and every time it happened in the past, BTC rallied 42 percent on average. If history repeats, bitcoin could be trading st $15,500 by late-November.
Lark said that if bitcoin mirrors the 42 percent from its 50-day MA history, it would be trading for $15,500 by late November. However, current spot rates project the figure to be more than $16,000.
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