What is the fate of Dogecoin? Bitcoin will have its first golden cross in 2022: Capriole founder predicts it will surge to $45,000 in the near future, and search volume surges 826% in 7 days

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Friends of the Dogecoin Chinese community, everyone is at peace.
Today is Saturday, October 28, 2023
This is the news station of the Dogecoin Chinese community
The news to be introduced today comes from MarsBit, CoinDesk and Golden Finance
This news was published on October 26-27, 2023, Taiwan time
The title is What is the fate of Dogecoin? Bitcoin will have its first golden cross in 2022: Capriole founder predicts it will surge to $45,000 in the near future, and search volume surges 826% in 7 days

According to CoinDesk, Bitcoin (BTC) is about to complete its first golden cross in 2022, showing strong bullish momentum. The so-called golden cross, when the 50-day simple moving average (SMA) crosses the 200-day SMA on an upward trajectory, occurs for the first time since early February. The current price of Bitcoin has risen by 30% in two weeks, touching more than $35,000, which is the highest level since May 2022. This phenomenon may herald the arrival of a bull market.

Charles Edwards, founder of Capriole Investments, said in an interview with Coindesk that Bitcoin is expected to rebound to $40,000 to $45,000 in the coming weeks, although the monthly resistance of $35,000 has triggered a large number of sell orders from miners. He believes that as selling pressure eases, the price of Bitcoin is expected to reach higher levels.

In addition, there has been a significant increase in Google searches for "buy Bitcoin" worldwide. Especially in the UK, searches for this keyword surged 826% in seven days. In the United States, searches for “buy Bitcoin” increased by more than 250%. Searches for specific financial institutions, such as "buy Bitcoin on Fidelity," saw search volume increase by more than 3,100%. Global searches for "Is now a good time to buy Bitcoin?" also increased by 110% last week.

At the same time, interest in the BlackRock Bitcoin ETF is also rising, up 250%, reflecting widespread interest in the BlackRock Spot Bitcoin exchange-traded fund (ETF), which is still awaiting approval. . A spokesperson for "Cryptogambling.tv" pointed out that the huge increase in searches for "Buy Bitcoin" in the UK, combined with the recovery of the cryptocurrency market, shows that traditional financial institutions are increasingly interested in and potential impact on the digital asset field.

This news can analyze the price trend of Dogecoin from the following perspectives:

1. The historical impact of the golden cross: According to reports, Bitcoin is about to complete its first golden cross in 2022, which is a bullish signal in technical analysis. Historically, whenever Bitcoin experiences a golden cross, such as in April 2019, its price usually rises accordingly. The emergence of such technical signals usually attracts more investors to the market and can drive the entire cryptocurrency market higher, including Dogecoin.

2. The influence of the predictions made by the founder of Capriole: Charles Edwards, the founder of Capriole Investments, is of great importance in predicting the future price of Bitcoin. Take 2017, for example, when the market reacted to experts’ predictions that Bitcoin would reach new highs, and the price of Bitcoin climbed accordingly. Such expert predictions often influence investor sentiment, especially in the highly correlated and interactive cryptocurrency market. Therefore, Edwards’ prediction that Bitcoin will reach $40,000 to $45,000 could have a positive impact on the entire market, including Dogecoin.

3. Explosive increase in search volume and market participation: The article pointed out that the number of Google searches for "buy Bitcoin" increased by 826% in the UK. This increase in search volume not only reflects increased public interest in Bitcoin, but is often an indicator of increased market participation. Take the 2017 cryptocurrency bull run, for example, when searches for Bitcoin and other cryptocurrencies surged, coinciding with significant increases in market prices. Therefore, the current increase in Bitcoin searches may signal increased interest and participation across the market, which may lead to higher prices for cryptocurrencies, including Dogecoin.

Overall, positive moves in the Bitcoin market have a positive impact on Dogecoin’s prospects. Bitcoin’s first golden cross since 2022 signals a bullish market trend, which history shows typically moves the overall cryptocurrency market. Capriole’s founder’s optimistic forecast for Bitcoin prices and the surge in global searches for Bitcoin reflect increased market participation, which could further boost overall cryptocurrency prices. Based on the above factors, this channel believes that this is the golden moment for long-term investors to accumulate chips and plan for the future. However, it must be emphasized that these views we share are not professional investment advice. They are only based on our observations and analysis. If you have any questions about our interpretation, we recommend that you refer to the source news link attached in the information column. For further verification, it is crucial for investors to do their own homework. Please remember to never invest in something you do not understand, never invest in a position that you cannot afford to lose, and make investment decisions carefully. . Of course, we will continue to pay close attention to the latest developments in Dogecoin.