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Bitcoin has passed $10,000 and investors are freaking out… Here's why I expect it to fly another 28%

by , 17 February 2020
Bitcoin has passed $10,000 and investors are freaking out… Here's why I expect it to fly another 28%
Bitcoin has once again surpassed the psychological $10,000 level, which has been making headlines…

And now, investors, analysts and traders world-wide, don't know whether to buy more of it or just sell it…

Some are calling it a bubble, others are waiting for a pull back and some are waiting for a major crash.

But I'm going to put all of those emotional driven articles to bed. Because according to the charts and the news events, it tells me that $10,000 is only the start of the Bitcoin rise this year.

In today's article, I'll discuss four reasons why we can expect Bitcoin to soar to over $12,889 and what you can do to profit.
 
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Reason #1:
Bitcoin seems to be the new age safe haven
against the Coronavirus
 
The Coronavirus virus has already taken over 1,000 lives and has infected over 42,000 people world-wide.  
 
And as the virus continues to spread, investors will remain buying alternative investments like Bitcoin and gold to safe guard their money.  
 
You can almost call Bitcoin the new safe haven, as it has almost no effect on: 
 
World stock markets
Regulated banks
Fuel consumption
Listed companies
 
And as you can see, while world markets have been down, Bitcoin has been in demand resulting in its price rise.
 
Talking about safe havens, this brings us to our next reason we can expect to see Bitcoin going up... 
 
Reason #2:
We are seeing a positive correlation between gold and Bitcoin 
 
According to Arcane Research, one of the largest exclusive research companies on Crypto-currencies, they noted that Bitcoin's correlation with gold is approaching four-year highs (since 2016). 
 
And if you've been keeping up to date with Trading Tips, you'll know five reasons why I expect gold to fly this year.  
 
As long as the correlation is strong we'll see Bitcoin go up with gold.  
 
Reason #3:
Bitcoin is the big daddy of the Crypto-currency world
  
Bitcoin is the undisputed leader of the cryptocurrency market as it currently makes up over 64% of the overall market. 
 
Its current value has a market capitalisation of $178 billion, which is nearly $50 billion more than at the start of 2020. 
 
We can also talk about Bitcoin's accessibility. 
 
You see, unlike all the other alt coins, bitcoin has managed to have reach to different merchants, exchanges, software as well as supporting hardware. 
 
These reasons and more have proven that Bitcoin has a more robust system and has had the biggest advantage as a store of value compared to any other altcoins. 
 
That's why now we're seeing a more stable growth with new investors and whales (big income spenders) piling in…
 
The main reason, why I have bullish tendencies about Bitcoin's rally, all lie in the charts.
 
 
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Reason #4:
Bitcoin’s Golden Crossover and $10,000 breach shows a lot more upside
 
 
 
Looking at the daily Bitcoin chart, we can see two lines plotted on the chart (Red and Green). 
 
The red line shows you a 50 Day Moving Average (EMA). 
 
While the green line shows a 200 Day Moving Average (EMA).  
 
The 50 EMA shows you the overall direction of the market over the last 50 days.  
 
And the 200 EMA shows you the main direction of the market over the last 200 days. 
 
Now when the 50 EMA crosses above the 200 EMA, this is called a ‘Golden Crossover’. 
 
When this happens, it signals that the main trend direction is up, which excites traders and investors world-wide into buying the crypto-currency pushing the price higher.
 
But the ‘Golden Crossover’ is not enough in my books…
 
I like to wait for a significant price breakout before I buy into the market…
 
In this case, it’s above the resistance (ceiling) level at $9,513 (Black line).
 
As of last week, we finally had the price break above this level sending it above $10,000…
 
Now that we have a solid ‘Golden Crossover’ as well as a breakout above $9,513, we can expect the price to rally to the previous high.  
 
Which in this case is at $12,889…
 
Here's how you can profit from the Bitcoin 28% rally
 
First, you can buy and profit by owning Bitcoin CFDs with one of the brokers that offer crypto currencies.
  
Second, you can read millionaire and Crypto-currency expert Sam Volkering's book on how to profit from the crypto revolution.
  
Third, Trader X could soon be adding crypto currencies to his Pickpocket Trader service... This will be the first Crypto Currency short term trading service launched in South Africa.
 
Trade well,
Timon Rossolimos,
Analyst, Red Hot Storm Trader
 
P.S: A small group of savvy South African traders are pocketing fast gains like 389%, 135% and even 52% in the global financial markets. You can find out how here…


Bitcoin has passed $10,000 and investors are freaking out… Here's why I expect it to fly another 28%
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