Bitcoin is looking very bullish at the moment. At the time of writing, according to Coinmarketcap (CMC) one bitcoin is now worth $USD5564.50. According to trading view, it is about to create a technical analysis phenomenon known as a golden cross, shown below:
A golden cross formation is when the 50 day moving average price of an asset crosses the 200 day moving average price of the same asset. This is a bullish signal. It is a very positive sign for Bitcoin.
Its interesting to note that Bitcoin dominance is now over 53% at 53.2% on CMC. Volume is just over $USD51 billion at the time of writing, so it is still relatively low compared to the more than $USD80 billion volume when Bitcoin pumped from $USD4000 to $USD5000.
Do you think this is the start of the next parabolic bull run?