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Bitcoin Golden Cross Confirms Bitcoin Bull Market

Today on Bitstamp a Golden Cross in bitcoin price was seen for the first time:

In technical analysis a Golden Cross occurs when the 50 day moving average crosses over the 200 day moving average. Also both indicators should be sloping up.

We already had evidence that a bull market in bitcoin had begun as bitcoin price on a weekly chart is above the 200 week moving average. Price above the 200 week moving average is the classic technical analysis definition of a bull market:

Taken together we have clear confirmation of a bull market in bitcoin.

Should I Buy Or Should I Hold?

If you already own bitcoin congrats! The bitcoin golden cross confirms that now is the time to buy bitcoin, not to sell. The new bitcoin bull market should increase the value of your bitcoin.

We think bitcoin price will continue to appreciate as the bitcoin block halving approaches. The block halving will cut the rate that new bitcoins are mined in half and will take place summer of 2016.

Bitcoin is nothing if not volatile. Expect sell offs as people take profits in the coming months. A good way to get the best price if you do not own bitcoin yet is to buy when others are selling strongly. Just wait for a day when price decreases on strong volume and buy.