Binance Research stated, “Before Bitcoin formed a golden cross on September 8th, it recorded a closing price below the 200-day moving average for 293 consecutive trading days.” It added, “Among the past 12 golden crosses, there were 6 instances where the price was below the 200-day moving average for more than 150 days prior. In these cases, BTC rose approximately 100-600% from its peak within one year after the golden cross. On the other hand, among the remaining 6 cases where the period below the 200-day moving average was relatively short, the maximum increase within one year did not reach 100% in 4 cases. After the October 2015 golden cross, which is considered the most similar case to the current trend, BTC rose approximately 150% from its peak,” the analysis concluded.
