It seems that Bitcoin is out of the consolidation stage and the big move everyone waiting for is upward: the price reached a six-month high of $11,386 or a one-day gain of 10.5% on Tuesday. The increase in price brings a new bout of volatility, with its one-month implied volatility soared 48% to 64% on Monday.
Meanwhile, gold hit a record new high to $1,946, bringing silver to $25.90 an ounce, and many analysts believe the bullish run for these hedge assets is just getting started.
The strong rally of gold could be attributed to the growing tension between US-China and America’s weak attempt on dealing with the virus. Investors are seeking places to park their money in fear of inflation induced by the flood of liquidity. Gold, a traditional and most-favored safe-haven, and bitcoin, an asset considered by many a hedge asset, becomes the destination of an abundance of money.
When commenting on Bitcoin’s recent move, Knash Nikolsson, the Marketing Director of Bexplus Exchange shared that “We are confident that Bitcoin could hold up and make bigger gains in the near-term, as Bitcoin has not yet caught up with gold’s rally. However, Bitcoin still needs to break the $10,400 to signal the coming of a bull market. We expect volatility will be back in town and traders should keep a close eye on the market.”
Famous analyst Lark Davis also made a comment on Bitcoin’s possible bull runs:”This is just the beginning of what is likely to be a truly face melting cycle for bitcoin and crypto more broadly. The real fun will happen in 2021. Tick Tock, the time to buy cheap btc is running out.”
BTC Margin Trading – Maximize Profits with Less Investment
In times of volatility, margin trading is the most profitable tool to generate profits. In contrast to spot trading in which traders only benefit from price appreciation, margin trading allows traders to bet on the ups and downs of prices. With leverage, traders can open large positions with small amounts of money.
To illustrate, with the 100X leverage offered by Bexplus, you can open a short position of 10 BTC and you only need to invest 0.1 BTC as margin. If you generate a 10% profit, you will earn 1 BTC, making your ROI 1000%.
Established in 2017, Bexplus is available worldwide including the U.S., Japan, Iran, India, and Korea. Without KYC requirements, you only need to verify your email then you could start trading within a few minutes. Its minimalist interface, demo trading mode, and 24/7 customer support are some of the features that set it apart from other platforms, making it an ideal choice for both beginners and seasoned traders.
Demo Account with 10 BTC
What better way to improve your skills than practicing in the simulator. There are 10 replenishable BTC in the demo account for traders to practice as much as they like, without taking any risks. You can also learn to analyze the market and use the tool-kit with the demo account.
Top Ranking Mobile Apps to Help you Trade Smartly
Bexplus mobile app ranks in the Top 5 of keyword search results related to bitcoin trading in 56 countries in App Annie. This full-featured app provides you with the same experience when using a computer, only far more convenient.
Bexplus mobile app has a 24/7 market notification to keep you updated with any huge market movement. All data and assets can be accessed through all kinds of devices including Windows, Macbook, Android phones, iPhones, and tablets.
24/7 Withdrawal and 24/7 Customer Support
You can submit a withdrawal request anytime you want. You can have your deposits back in as fast as 30 minutes during work hours. If you encounter any problems when using Bexplus, you can contact customer support via different channels, such as e-mail and live chat.
100% Bonus to Help You Maximize Profit
Double deposits, double profits. Users can get a 100% deposit bonus for every deposit on Bexplus. If you deposit 1 BTC, 2 BTC will be credited to your account, and the profits gained with the bonus are withdrawable. Every user can join the promotion and get up to 10 BTC bonus. Now active users can get 10% off of their transaction fee.
Follow Bexplus on:
Apple App Store: https://itunes.apple.com/app/id1442189260?mt=8
Disclosure/Disclaimer: This article is sponsored and provided by a third-party source and should not be viewed as an endorsement by ZyCrypto. Readers should do their own research before having anything to do with the company, goods, and/or services mentioned in the above article.