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Feb. 22, 2020, 2:27 p.m. EST

‘Don’t be late to the party’ — bitcoin rose 170% the last time this signal flashed

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By Shawn Langlois, MarketWatch


Getty Images
Is bitcoin set for another surge?

Bitcoin $26,000?

If history repeats itself (spoiler: it usually doesn’t), bitcoin could see a huge run in the next two months, according to Cointelegraph analyst Keith Wareing .

Why? Look to the cross... the “golden cross.”

Yes, bitcoin’s /zigman2/quotes/31322028/realtime BTCUSD +0.87% ascending 50-day moving average recently crossed over its 200-day moving average, a rare occurrence that had other popular crypto pundits chiming in on Twitter /zigman2/quotes/203180645/composite TWTR -0.11%  :

As Wareing pointed out , the last time bitcoin saw this kind of bullish action, the price shot up 170% in less than two months.

Meanwhile, optimism continues to bubble over among crypto bulls, like Max Keiser, who just raised his target from $100,000 to $400,000 .

“I first made this prediction when it was $1, I said this could go to $100,000,” he said Monday on InfoWars. “I’m raising my official target for the first time in eight years, I’m raising it to $400,000.”

At last check, bitcoin was trading at $10,143.

/zigman2/quotes/31322028/realtime
US : CoinDesk
11,310.94
+97.89 +0.87%
Volume: 0.00
Aug. 5, 2020 4:29a
loading...
/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 36.35
-0.04 -0.11%
Volume: 10.60M
Aug. 4, 2020 4:04p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.55 billion
Rev. per Employee
$776,112
loading...

Shawn Langlois is an editor and writer for MarketWatch in Los Angeles. Follow him on Twitter @slangwise.

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