– Bitcoin could form in the third or fourth week of may, the so-called Golden cross.– The bullish Signal will immediately show up after the halving of the Mining reward of the crypto-currency.– The converging indicators could lead to a massive upward shift.
Bitcoin is the “Golden cross” in the third or fourth week of may 2020 flash.
To the Background: It refers to what happens when the sliding end 50-day moving average of an asset over its 200-day moving average is rising.
Traders usually view it as a bullish indicator, which leads to an enhanced upward motion and the fact that a Golden cross appears immediately after the bitcoin halving of the Mining reward has doubled the possibility of a price recovery even.
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Golden cross meets halving
Bitcoin is on 12. In may 2020, a pre-programmed production is subjected to reduction, wherein the daily production of 1,800 BTC to 900 BTC will go down.
It is the third in a halving of the crypto-currency. And since the last two events of massive price recoveries preceded, believe speculators that the next halving similar results.
Dan Morehead, for example, the CEO of Pantera Capital, said:
“Bitcoin has reached 459 days prior to the halving, a historic low, has climbed before halving in, and then the top explodes.”
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And:
“The rallies after the halving will have taken in an average of 446 days – from halving up to the climax of this bull cycle.”
In the current halving cycle 514 days prior to the 12 reached a Bitcoin. In may 2020, the bottom of the valley. This should result in historical terms, that Bitcoin reached prior to August 2021 to be the all-time high.
Morehead commented that the Bitcoin price with $115.212 could reach per Coin its highest level – should the historical relationship between supply and demand for the halving of the 12. May persist.
The prediction takes place involuntarily support the imminent Formation of the Golden cross. The technical indicator shows a impressive history as a delayed bullish Signal, i.e., the price begins to rise already before its emergence, and extended his education in its upward momentum.
23. April 2019 as an example, Bitcoin, the Golden cross flare, after he had risen until the end of the month to 32 percent. His emergence later transformed into a massive spending spree, which caused the price of the crypto-currency by a further 151 per cent to almost 14,000 dollars.
This happened after Bitcoin had reached in December 2018 to an all-time low near 3.120 $.
On the other hand, it was not possible to the Golden cross, in some cases, attract buyers. Its founding on may 18. February 2020 was followed by one of the biggest daily Price drop in Bitcoin in March 2020.
The flip side of the coin, however, came after an uncontrollable macro-economic and humanitarian catastrophe to the fore – of the Coronavirus pandemic.
However, Bitcoin rebounded after the crash to more than 100 per cent and is now trying to close above $ 9,000.
What follows now?
Bitcoin Hash Rate and Mining Difficulty just before the halving soared to record highs. This shows that the Miner try to get to 12. May so many Bitcoin rewards as possible amass.
In addition, the recovery of Bitcoin from under $ 4,000 to this would ensure almost $ 9,000 in that the Miner is your Break-even cost-efficient to maintain, before your winnings are reduced by half.
All in all, what saved the miners today, after a halving, with a higher Rate on the spot market. It ensures that the Mining Rigs are running in spite of the shift in their risk-return spectrum overnight.
As this is the Golden cross of the case, the price could be the Bitcoin – both fundamentally as well as technically – in the height fast.
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