{"id":4980,"date":"2023-10-31T13:45:01","date_gmt":"2023-10-31T13:45:01","guid":{"rendered":"https:\/\/connectwithfund.com\/investment\/bitcoin-prices-are-rising-again-a-golden-cross-could-keep-the-momentum-going\/"},"modified":"2023-10-31T13:45:03","modified_gmt":"2023-10-31T13:45:03","slug":"bitcoin-prices-are-rising-again-a-golden-cross-could-keep-the-momentum-going","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=4980","title":{"rendered":"Bitcoin Prices Are Rising Again. A \u2018Golden Cross\u2019 Could Keep the Momentum Going."},"content":{"rendered":"
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\n Bitcoin
\n and other cryptocurrencies rose Monday, with digital assets moving to the higher end of a range established on the back of a two-week rally. Analysts were watching key technical indicators that could keep the momentum going.<\/p>\n

The price of Bitcoin has advanced 1% over the past 24 hours to $34,600, getting closer to last week\u2019s peak above $35,000, which marked the highest point for the largest crypto since tokens plunged into a brutal bear market in May 2022. Bitcoin has rallied some 30% in just over two weeks, largely driven by optimism that regulators will soon approve the first spot Bitcoin exchange-traded fund (ETF). That optimism has ushered in a fresh wave of investor interest in digital assets.<\/p>\n

\n

\u201cThe crypto market continues to settle at the levels it broke through at the beginning of last week,\u201d said Alex Kuptsikevich, an analyst at broker FxPro.<\/p>\n

While crypto bulls will continue their focus on the prospect of the Securities and Exchange Commission (SEC) approving a spot Bitcoin ETF, a busy week for markets could impact digital assets.\u00a0<\/p>\n

The
\n Dow Jones Industrial Average
\n and
\n S&P 500
\n are poised to move on the back of a Federal Reserve interest-rate decision on Wednesday as well as a bevy of economic data, including the U.S. jobs report due Friday. Investors continue to adjust expectations over the future of rates which have a bearing on cryptos too. If the Fed or data shift the needle significantly for stocks, Bitcoin could react in turn.<\/p>\n

For now, technical indicators are flashing green for Bitcoin after its big rally\u2014and that could attract even more traders into the digital asset pile-on. In the spotlight is the so-called golden cross, which marks when Bitcoin\u2019s 50-day moving average overtakes the 200-day moving average, signaling a rally with momentum. Bitcoin\u2019s 50-day moving average topped $28,310 on Monday and crossied the 200-day at $28,233, according to Dow Jones Market Data.<\/p>\n

\u201cA \u2018golden cross\u2019 has formed \u2026 which could further boost bullish confidence by creating a short-term flow of buyers following these popular signals,\u201d said Kuptsikevich.<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014gained 2% to $1,820. Smaller tokens or altcoins also were higher, with
\n Cardano
\n climbing 2% and
\n Polygon
\n popping 3%. Memecoins were more muted, with
\n Dogecoin
\n and
\n Shiba Inu
\n trading around flat.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies rose Monday, with digital assets moving to the higher end of a range established on the back of a two-week rally. Analysts were watching key technical indicators that could keep the momentum going. The price of Bitcoin has advanced 1% over the past 24 hours to $34,600, getting closer to last week\u2019s peak above $35,000, which marked the highest point for the largest crypto since tokens plunged into a brutal bear market in May 2022. Bitcoin has rallied some 30% in just over two weeks, largely driven by optimism that regulators will soon approve the first<\/p>\n","protected":false},"author":1,"featured_media":4981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-4980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment"],"yoast_head":"\nBitcoin Prices Are Rising Again. 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