Chris Kuiper, vice president of research at Fidelity Digital Assets, predicts that if the price of a major cryptocurrency “lasts” beyond the level of extremely $93,000, the cross of Bitcoin’s death will turn the golden.
According to Kuiper, Bitcoin’s current Golden Cross has been playing since April 7th. During this period, cryptocurrency rose 33%.
The final golden cross recorded by Bitcoin was able to boost the price of cryptocurrency by 13%.
“Our team will continue to monitor this trend as the market may be preparing for the next shift,” Kuiper said.
Formed in October 2023, Golden Cross brought about a 80% price surge, with Bitcoin rising from $35,000 to $61,000.
Bitcoin is currently changing its hands at $108,622 after a 2.6% drop in the last 24 hours, according to Coingecko data.
On Thursday, Bitcoin prices hit a current all-time high of $111,814.
Bitcoin has since cut some of its recent profits following a recent escalation in trade tensions between the US and the EU.
Earlier this month, Kuiper said that Bitcoin is in the “acceleration phase.” According to Fidelity, the $110,000 level could potentially serve as a basis for another price surge.
In particular, the peak in November 2021 was the only time the second meeting was not held.
This time, the assembly is being driven by a stable influx of ETFs showing strong institutional interest. In the meantime, retail investors will remain primarily on the sidelines.
