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This man made 21,045% on a single crypto play
In 2014, US TV host Rick Amato laughed at crypto expert Sam Volkering when he said investors should buy crypto…
Just four years later, he pocketed over 20,000% from Ripple.
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Demand will crush supply and send the price higher
Since the Bitcoin Halving took place on the 11th of May, the Bitcoin price has already rallied 13% from $8,800 up to $9,950.
This is because the demand for Bitcoin has picked up while the supply has been cut by 50% for the next 210,000 transaction blocks.
With less Bitcoins entering the overall supply (6.25 Bitcoins reward per block mined), over the next four years, this will result in a huge number of new and existing buyers trying to enter the market.
And when there is a surplus of demand compared to supply, we can expect the price to continue to rally.
Scott Freeman, co-founder of New Jersey-based bitcoin and crypto-focused institutional trading firm JST Capital confirmed:
"Bitcoin has risen over 100% over the last few months and we believe most of that rise was driven by continued retail demand,"
Bitcoin is about to make a positive Golden Crossover
The indicator I’ve been watching for is called the Golden Crossover!
To explain it simply, the Golden Crossover is where the 50-day Moving Average (50MA) of Bitcoin’s price crosses ABOVE the 200-day Moving Average (200MA).
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.
This is the main indicator professional traders use as a positive (bullish) signal to indicate the crypto-currency price will move up and by how much….
Whether the Golden Crossover is a self-fulfilling prophecy and psychological for traders, I can tell you when the event occurs, the market tends to move up big time.
Take a look at the chart historically to see how the Golden Crossover has resulted in upside with Bitcoin over the last three years.
Why the next Golden Crossover could send Bitcoin to $15,291
Looking at the daily Bitcoin chart, we can see two lines plotted on the chart (Red (50MA) and Blue (200MA).
There have been three Golden Crossovers since 2017 including:
1. A 1,127% gain from $765 in 5 Jan 2017 up to $9,389 on 27 March 2018
2. A 101% gain from $4,444 in 24 April 2019 up to $8,967 on 24 Oct 2019
3. A -27% loss from $9,087 in 15 Feb 22 down to $6,554 on 31 March 2020
And now with the Bitcoin Halving event which will result in demand outweighing supply, I expect a 57% rally from $9,721 up to $15,291.
To calculate this price target we’ll use the High-Low approach.
This is where I take the difference between the most current high and low price and I add it to the high price.
In this case the most current high was at $9,721 as of 19 May 2020, while the low took place on 19 March at $5,570.
Here is the calculation for the next price target:
Price target = (High – Low) + High
= ($9,721 - $5,570) + $9,721
= $15,291
This means, we can expect the price to rally to $15,291 in the next few months.
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Here's how you can profit from the Bitcoin 57% rally
First, you can decide to buy and profit by owning Bitcoin CFDs with a reputable broker that offers crypto currencies.
Trade well,
Timon Rossolimos,
Analyst, Red Hot Storm Trader
PS: Ready to buy into the Bitcoin rally in 2020? Click here to find out how to get started with your profitable crypto-currency career.
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