First Golden Cross for Bitcoin in 3 Years as Bulls Return
The milestone follows a 35 percent rally for Bitcoin past $5,600, on track for best monthly gain since the peak of crypto frenzy.
(Bloomberg) -- Here’s yet another sign the crypto winter is thawing. Bitcoin, the largest digital currency, has formed its first bullish golden cross since October 2015, according to Bitstamp pricing that includes weekend moves. The milestone follows a 35 percent rally for Bitcoin past $5,600, on track for its best monthly gain since the height of the crypto frenzy in December 2017. The sudden resurgence has also been apparent in other parts of the market, including record contract trading volumes in the futures market at CME Group Inc. earlier this month.
To contact the reporters on this story: Eric Lam in Hong Kong at elam87@bloomberg.net;Matt Turner in Hong Kong at mturner107@bloomberg.net
To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger
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