Bitcoin Price Monthly Moving Average Growth Hints At Where Crypto Market Cycle Is At

While a recent poll shows that the majority of crypto investors have never experienced a transition from a bear market into a bull run, its clear thats whats transpiring across the crypto market in recent weeks, as the price of Bitcoin continues to climb upward and away from the bottom set back in December 2018.

Now that Bitcoin price is rising once again following a full year of downtrend, the assets 200-week moving average – an important long-term trend strength indicator – is also again growing at a rate of 5% month over month. The growth rate also could help analysts determine where the crypto market is in terms of its transition from bear to bull.

Bitcoins 200-Week Moving Average Growth Suggests We Are Close to Crypto Bull Run

The 200-week moving average is among the most important indicators for any trader or investor to watch, in any financial market and not just the crypto industry. If the assets price trades above or below the average says a lot about the strength of a long-term trend.

In Bitcoin, the vital indicator acted as support at the lowest points of the bear market, was what eventually prevented Bitcoin price from falling lower, and acted as the fuel that rocketed Bitcoin into a new bull trend.

Related Reading | Next Bitcoin Bull Run Will Be First Cycle Supported By Established Financial Firms

At the time, crypto analysts had feared a break of the 200-week moving average would call into question Bitcoins longevity as a financial asset, as most investors would see this as a major threat to the digital golds long-term trend structure – something it may never bounce back from.

However, bounce it did, and since then Bitcoins 200-week moving average is back to growing at a rate of 5% each month. In a chart shared by prominent crypto analyst 100TrillionUSD the moving average growth rate is depicted as varying shades of color.

#Bitcoin 200 week moving average is growing at 5% per month again

As can be clearly seen, the chart started to turn into a teal or turquoise color, with a touch of light green behind it. Prior to this, Bitcoins moving average was at its lowest growth rate of 2% per month displayed in the darkest shade of blue. Its worth noting that Bitcoins 200-week moving average has never once declined throughout the course of its history.

Comparing the previous bear to bull transition coming out of the last bear market cycle into the bull run that captured the mainstream publics attention ...

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Tags: Bitcoin, Moving average, Price, Economic growth, Bull, Market trend, market, Investor, Bicycle