Bitcoin
Bitcoin 200-Day Moving Average Hits All-Time High at $50,178
The world’s first cryptocurrency, Bitcoin, lasted 200 days average reach an unprecedented level of $50,178, signaling an optimistic outlook for long-term price trends.
This important indicator eliminates short-term volatility by showing an uptrend when BTC trades above it, as it currently does. Despite a post-halving drop, Bitcoin’s recovery is evident as the 200-day moving average surpassed $56,800 on April 20.
Source: BuyBitcoinWorldwide
The 200-day simple moving average (SMA), a measure that takes into account closing prices over 200 days, reduces short-term volatility. Current trading prices above this average level imply a generally bullish trend.
At the WooCharts designed by analyst Wily Woo, the 200-week moving average had a record of US$34,190, and this trend is shaping up as a strong rise for the year. Bitcoin, so far, has been hovering around this level since mid-October.
Having declined by 100 contracts in the last 50 days, this number is slightly lower than the mid-April peak. Signs of recovery are noticeable, such as Grayscale spot Bitcoin ETF first entry on May 3, indicating greater investor optimism.
Bitcoin’s 200-day moving average jumping to $50,178 signals a clear long-term uptrend, supported by technical indicators, recent market developments and growing investor interest, indicating significant growth opportunities.
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