bitcoin price technical analysis bull run

Bitcoin price has finally managed to surge beyond $5,500 as a quick uptick helped the currency jump forward. Up by 5% over the past 24 hours, BTC price has been rising at quite a pace now and is expected to hit $6,000 soon. Furthermore, analysts are positive about a boom as a ‘golden cross’ has now formed on the Bitcoin graph.

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bitcoin price bull run
Image NewsBTC

Let us take a closer look at the growth of BTC and where it is headed next:

Bitcoin Price All Set to Surge Following Golden Cross

There’s going to be a major surge in the price of BTC and all the analysts are rallying behind this. Given that a ‘golden cross’ has formed on the graph. This means that the short-term moving average of Bitcoin has crossed above the long-term moving average and it is almost a certain proof of a boom in the Bitcoin price.

Bitcoin price graph golden cross
Image Reddit

A big green candlestick has emerged on the Bitcoin graph and more such upticks are going to be observed over the next weeks. BTC price is all set to surge past $6,000 soon.

Bitcoin Market Cap to hit $100 Billion in 24 Hours

Another interesting observation in the cryptocurrency markets is that the Bitcoin market cap is going to hit $100 Billion soon. This might happen as early as within the next few hours. As of this writing, the market cap of BTC stands in at $98 Billion.

Bitcoin price boom technical analysis
Image Bitcoin

Given that Bitcoin price continues to boom and more money keeps pouring in into the crypto-markets, $100 Billion market cap is almost guaranteed!