The only exception was in Bitcoin in 2019, where the signal suffered a drawdown. Interestingly, the buy signal generated by the golden cross has proven to be highly profitable in the past, with limited downside. These crossovers generate buy or sell signals in moving average-based trading systems, which aim to capture the majority of a trend. Conversely, a death cross occurs when the two moving averages cross down from above. This convergence of golden crosses among the top three crypto assets has never happened before, making it an intriguing and potentially game-changing event.Ī golden cross takes place when a higher timeframe moving average, typically a 200-period MA, crosses above a lower timeframe moving average, usually a 50-period MA, from below. In previous bull markets, these signals occurred at different stages, but it was only when all three coins experienced a golden cross that a stronger rally ensued. Additionally, the technical environment is showing signs of a possible uptrend, with several top cryptocurrencies inching closer to a golden cross in the 3-day timeframe, a rare occurrence in the past.īitcoin, Ethereum, and XRP are about to experience this phenomenon simultaneously for the first time in their history. The involvement of institutions like BlackRock seeking to launch Bitcoin ETFs and the favorable ruling for XRP and Ripple against the US Securities and Exchange Commission (SEC) has played a significant role in this positive shift. The recent outlook of the crypto market has been less bleak compared to previous weeks. But what does this mean exactly, and what are the potential outcomes of the 3-day golden cross? However, this is the first time all three major cryptocurrencies are crossing at the same time. This is an extremely rare occurrence, as each individual asset has only triggered this signal a few times in the past. Bitcoin, XRP, and Ethereum are making waves in the cryptocurrency market as they are poised to form a 3-day golden cross simultaneously.
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