# Bitcoin Hits New Highs, 200-Day Moving Average Reaches Record $50,178 By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/business/11730 Published: 2024-05-08T04:19:55.000Z Updated: 2024-05-08T04:19:55.000Z Section: Business > Bitcoin's 200-day moving average has surged to a record $50,178, marking a historic peak for the cryptocurrency. According to Anthony Pompliano and recent market data, Bitcoin is "as strong as ever," maintaining a bul… Bitcoin's 200-day moving average has surged to a record $50,178, marking a historic peak for the cryptocurrency. According to Anthony Pompliano and recent market data, Bitcoin is "as strong as ever," maintaining a bullish outlook despite recent volatility. Bitcoin's 200-Day Moving Average Surges Past $50,000, Signaling Strong Market Optimism Bitcoin's 200-day moving average has reached an all-time high of $50,178, indicating a bullish long-term outlook, per [Cointelegraph](). The indicator peaked on May 6, according to [BuyBitcoinWorldwide](). It comes as Bitcoin recovers from a post-halving price collapse that saw it fall as low as $56,800 on April 20, when the network's block rewards were reduced to 3.125 BTC. The 200-day simple moving average (SMA) adds the last 200 days of Bitcoin's closing price and divides it by 200 to smooth out short-term price swings. It intends to provide traders and analysts with a long-term trend indicator. When Bitcoin prices trade above this indicator, as they do today, it often indicates a positive long-term trend, and when prices fall below the 200-day moving average, the opposite is true. Bitcoiner Anthony Pompliano spoke on CNBC's Squawk Box on May 6 about the 200-day moving average crossing $50,000 for the first time. "Over the long run, Bitcoin continues to trend upward even though on a day-to-day basis that price is volatile." "Don't get lulled to sleep by Bitcoin going sideways. The long-term thesis is as strong as ever," he added in an X post. Bitcoin Maintains Bullish Trend as 200-Week Moving Average Hits Record, Boosting Market Confidence According to analyst Willy Woo's WooCharts [price models](), the 200-week moving average, a considerably longer-term trend indicator, has reached an all-time high of just over $34,000, implying that the yearlong trend prognosis is even more optimistic. Bitcoin's price crossed the 200-week moving average level in mid-October and has remained above it ever since. Spot prices are also much higher than the realized price (RP), approximately $29,000. The RP measures the worth of all Bitcoin at the last on-chain transaction price divided by the amount of BTC in circulation and another long-term trend indicator. However, the shorter-term 50-day moving average has slid somewhat from its top in mid-April, as BTC has fallen from its all-time high in mid-March. Pompliano also stated that the Grayscale spot Bitcoin exchange-traded fund (ETF) saw its first inflows on May 3. The fund saw a $63 million inflow after seeing net outflows of more than $17.5 billion since being converted from a trust to a spot ETF in mid-January. The momentum has continued. According to Farside Investors' early data, the fund saw an inflow of $3.9 million on April 6. Photo: [Microsoft Bing]() [TokenPost]() | info@tokenpost.com ## Links in this article - [Cointelegraph](https://cointelegraph.com/news/bitcoin-record-high-200-day-moving-average?fbclid=IwZXh0bgNhZW0CMTAAAR109yKw4v0vZgNvzyKYQF_A4eTtwxdXMDMEDZtoksTI6X-ZpHQISobvxeM_aem_AWF3XsyLpUnyHi-lEt049jxiLqnJy-M-iLK56UjWioQXVBMV0ok-NkxcXHea-kKbbj3WMqrrLXgi0t5__mpScFW-) - [BuyBitcoinWorldwide](https://buybitcoinworldwide.com/charts/200-day-moving-average/) - [price models](https://woocharts.com/bitcoin-price-models/) - [Microsoft Bing](https://www.bing.com/images/create/bitcoin-hits-new-highs2c-200-day-moving-average-rea/1-6639d57800cb40998f969c652791398b?id=UaGfxb98RDcPlFhlaP32Pw%3d%3d&view=detailv2&idpp=genimg&thId=OIG1..unN5xrTbm7Nj8rFHJKo&FORM=GCRIDP&ajaxhist=0&ajaxserp=0) - [TokenPost](https://www.tokenpost.com)