The crypto-currency market has begun another slide with bitcoin falling below $30,000. About $100 billion was liquidated as the market went into the red. The fall in crypto-assets came after recent sell-offs in global stock markets. Fears of a new wave of Covid cases and the bleak economic outlook have prompted investors to stay away from risky assets. Many analysts believe we are now headed for a price of $24,000 or lower.
On June 4, Ellon Musk posted a tweet: Bitcoin, heartbroken. Later, he tweeted again: Canada, United States, Mexico. Here’s how his tweets were interpreted by most people: goodbye Bitcoin (it’s possible he sold his Bitcoins) and going south (drop in Bitcoin price).
In fact, 5 hours after it was released, Bitcoin dropped more than 10%.
On June 8, most crypto-currencies fell by 10%, today the crypto-currency market fell again, and the bear market seems to have really arrived.
One indicator shows that the recent rally could be a new market high. In a report by Delphi Digital, the MVRV report which measures the market value of bitcoin against its realized value is analyzed.
According to the report, the MVRV ratio in July 2021 is similar to those in early 2011, late 2013 and early 2018. At those times, the bitcoin price recorded all-time highs (ATH, All-Time High) before falling sharply.
The bear market seems to have arrived. How do you profit from the price drop?
Volatility is scary, but with the right tools, it’s very beneficial for making money. With the rocky road ahead, traders can engage in margin trading to cover losses and make profits.
Let’s look at how to profit from the falling bitcoin price:
Let’s assume we used 1 BTC to open a short-term contract when bitcoin was trading at $35,000. Note that with a leverage of 100, 1 BTC opens a contract worth 100 BTC.
If the price of bitcoin dropped to $33,000, the profits would be ($35,000 – $33,000) * 100 BTC/$33,000 *100% = 6.06 BTC, or a return on investment of 606%.
Margin trading is a mature derivative in the crypto-currency market. Founded in 2017 and headquartered in Hong Kong, the company <a href=”https://www.bexplus.com/fr?bpcode=OegU7j&utm_source=cryptonaute&utm_medium=article&utmBexplus is a leading crypto-currency derivatives trading platform with its 100 leverage futures trading offering on BTC, ETH, LTC, DOGE, XRP, etc.
How to get started?
Bexplus does not require identity verification (KYC), so all you have to do is open an account with an email address, in just 1 minute. Once the registration is complete, a trading account and a demo account with 10 BTC will be opened automatically.
Practice: Take advantage of your demo account
Successful traders are those who learn to analyze the market and keep a cool head. The best way to improve your skills and mindset is to practice on a free demo account.
Initially, each user receives 10 BTC that are replenishable. This means you can try out different strategies as much as you like.
Make a deposit and enjoy the bonuses
There are no deposit fees. You can start with a deposit of 0.001 BTC. Bexplus allows deposits in Bitcoin, ETH, etc., as well as in USD, EUR and GBP.
To help traders make more profits, Bexplus offers a 100% deposit bonus to every trader. Make a deposit of 1 BTC and you will get 2 BTC, with a maximum of 10 BTC available for each deposit. The bonus cannot be withdrawn but can be used as margin.
Earn passive income with Bexplus
When you are not trading, you can transfer your BTC to the interest-bearing portfolio and earn an annualized interest rate of up to 21%.
Interest is calculated daily and the income from the deposit is paid monthly. The monthly interest is calculated as follows: (S*I/365*30)=IM, where S is the deposit amount, I is the interest rate and IM is the monthly interest.
Sign up for a 100% bonus and use a simulated account to test your strategy.