Bitcoin surpassed the $52K handle on Monday morning, as crypto-asset markets have been moving northbound and gathering more fiat value. The overall crypto economy is around $2.45 trillion and it has gained 3.5% during the last 24 hours. Meanwhile, bitcoin charts show a pending golden crossover which to many means the overall market outlook looks bullish.
Bitcoin Hits Resistance Above the $52K Handle
Digital asset markets are in the green today and many crypto assets have seen single to double-digit gains during the last 24 hours. At the time of writing, the entire crypto-economy of 10,000+ cryptos in existence is around $2.45 trillion on Monday. Bitcoin (BTC) has gained more than 3.5% today and 6.3% during the last seven days. On Monday morning (EST), BTC surpassed the $52K zone reaching $52,230 per unit. Many assume BTC’s next few months will be bullish and a pending golden cross chart signal indicates this may be the case.
Basically, when the short-term moving average jumps over the long-term moving average and starts moving northbound, traders call it a golden cross and assume an upward trend is coming. “On Friday, BTC broke through the resistance of $50,500, paused for the weekend, and exceeded $51,500 on Monday, where it is now struggling to hold on,” Fxpro senior financial analyst Alex Kuptsikevich told Bitcoin.com News.
“Actually, Bitcoin has been trading above $50,000 since last week as the bulls managed to keep the rate above the 200-day moving average. In light of this, the price of ‘over fifty’ has become quite common over the past few days,” Kuptsikevich added. The analyst further stressed:
