Over the last couple of days, the long-struggling cryptocurrency market seems to have found some support, and we are seeing small but impressive gains across some assets.
The only question now is whether it will last and in that case for how long?
What Do the Latest Cryptocurrency Gains Mean?
Naturally, all we can do is speculate, but it seems like investors are regaining some hope. For example, some of the leading cryptocurrency brokers have seen an increase in activity lately, and several exchanges are experiencing higher trading volumes.
There has also been some positive news that has come out lately, and as we all know by now, nothing can set off a short bull run like good news.
With that being said, all the gains remain modest at best, and we are still a long way from levels that anyone would consider good.
Also, the chances of the market turning and the recent gains decreasing is very high.
Something we have picked up by now is that this is a very volatile market.
Can You Benefit from Volatility on the Market?
Until the cryptocurrency market triggers another major bull run, all we can do is hold on to our investments and hope for the best.
Nevertheless, there are ways one can benefit from the high volatility we’re experiencing.
For example, CFD Trading offers great opportunities to trade cryptocurrencies that are moving in either direction and with the use of leverage, one can maximize profits.
Naturally, you can also trade instruments with exchanges, but when it comes to short trading, nothing beats a good CFD broker. They’re easy to get started with, they provide state of the art graphs and tools, and with a demo account, you can even trade cryptocurrencies without risk.
So to sum this up, instead of wondering when the next bull market is going to hit (because it will, but it might take a while), you should do like thousands of traders and make the best of the situation by trying to benefit from the volatility.
Or you can just wait, the choice is yours.
Will the Market Experience High Fluctuation Again?
Absolutely! The only question is when.
As mentioned, the gains we’ve experienced in the past week have been minor, and all of the major assets are still fluctuating on a daily basis. In fact, not even Bitcoin or Ethereum seem to be able to find support levels.
So the question is not if the market will fluctuate, the real question is if the market is ready to continue growing but still fluctuating at times.
And no matter what, it seems like all the hardcore cryptocurrency traders are remaining positive about the future, no one more so than McAfee.
In a recent statement, McAfee confirmed that he believes one Bitcoin will be worth a million dollars by the end of 2020. And I guess all we can do is hope.