On January 30, a cryptocurrency analyst expressed a positive outlook for alternative cryptocurrencies, pointing to the emergence of a golden cross pattern in the bi-weekly chart during their conversation on X. The golden cross is typically regarded as a signal indicative of a bullish market trend. When the short-term 50-day moving average surpasses the long-term 200-day moving average, it indicates a change in market dynamics from a focus on immediate selling to a preference for prolonged investment. Are Altcoins Set for an Uptrend With the Formation of a Golden Cross? This occurrence is especially significant because it marks the first formation of a golden cross since the year 2020. This pattern was last produced in 2016. Subsequently, alternative cryptocurrencies such as Ethereum, XRP, and Dogecoin experienced a jump in value, achieving new and significant peaks. In related news, Tether’s creation of $1 billion in new tokens has stimulated a push towards a record-high market capitalization. In this overview, the specialist points out the recurring patterns observed in the cryptocurrency market. The analyst highlighted that before significant altcoin surges in 2016 and 2020, there were occurrences of golden crosses.