The yield on the 10-year note jumped to a new high of 1.6% on Thursday. This sparked fears of inflation and rising borrowing costs. In the US, software, electric vehicle and cryptocurrency companies received the biggest impact. The Nasdaq fell as much as 3.5%, a figure not seen since October and the S&P was down 2.5%. Cryptocurrencies continue to slide with Bitcoin testing its $ 45,000 support.
China’s stock market has been closing lower for five consecutive days after the Spring Festival holidays, reversing its gain before festival week. Fears of inflation and overvaluation are the main reasons for the decline.
Even though Bitcoin has dropped more than 10,000 points, institutional investors see this as an opportunity to buy more Bitcoin. Square announced that it bought around 3,318 Bitcoins at an average price of $ 51,236. Now the company owns around 8,000 Bitcoins. MicroStrategy also announces that it plans to purchase an additional $ 1 billion of BTC by issuing senior convertible notes.
Meanwhile, an indicator called Tether Premium suggests that Chinese traders are seizing this as an opportunity to accumulate more Bitcoin at lower prices. “Chinese investors, especially those with very little exposure to bitcoins, are now looking for channels to buy bitcoins. And buying bitcoins through USDT is the most direct channel, leading to increased demand for USDT in the market. [over the counter]”Said Flex Yang, founder and CEO of Babel Finance.
Although Federal Reserve Chairman Jay Powell commented that the Federal Reserve will continue its policy of keeping interest rates ultra-low, investors respond by fleeing the markets.
While Powell’s speech and the possibility of a $ 1.9 trillion stimulus package offer hope for Bitcoin’s recovery, Bitcoin needs a real boost to overcome several hurdles before resuming its bull run. A study by TradingShot suggests that Bitcoin could fall back to the $ 35,000-40,000 area before recovering.
Cover losses and make profits with futures trading.
In futures trading, traders can sell cryptocurrencies for the short or long term and increase their exposure through leverage. Every fluctuation is an opportunity to make a profit. It is perfectly normal for operators to achieve an ROI of 100% or more.
Let’s see how:
Step 1: the current price of BTC is $ 31,000. If you think the price is going to go down, you can open a short position with 0.01 BTC. Now, 0.01 BTC may not seem like a lot, but with 100x leverage, you can open a contract worth 1 BTC.
Step 2: When the price of BTC drops to $ 30,000, you close the position.
Profit: (USD 31,000 – USD 30,000) * 1 BTC / USD 30,000 = 0.033 BTC.
Bexplus, registered in Saint Vincent and the Grenadines, is a leading crypto derivatives trading platform offering 100x leveraged futures trading on a variety of trading pairs: BTC, ETH, LTC, EOS, XRP, etc. No Margin, No KYC, No Deposit Fee Bexplus is trusted by customers around the world, including the US, Iran and Sudan.
Another way to protect yourself against risks is to earn passive income with the Bexplus wallet. The wallet offers up to 21% annualized interest and deposits can be withdrawn at any time. The wallet is independent from the trading account, so deposits will not be used as margin.
Demo account with 10 BTC
What better way to improve your skills than by practicing in the simulator. There are 10 BTC rechargeable on the demo account for traders to practice as much as they want, without taking any risk. You can also learn how to analyze the market and use the toolkit with the demo account.
Top-notch mobile apps to help you trade smart.
The Bexplus mobile app is in the Top 5 of search results for keywords related to bitcoin trading in 56 countries in the Annie app. This full-featured app gives you the same experience as when using a computer, only much more convenient. The Bexplus mobile app has a 24/7 market notification to keep you up to date with any big market moves. All data and assets can be accessed across all kinds of devices, including Windows, MacBooks, Android phones, iPhones, and tablets.
Withdrawal and 24/7 customer support
You can submit a withdrawal request anytime you want. You can get your deposits back in as little as 1 hour during business hours. If you encounter any problems using Bexplus, you can contact customer service through different channels such as email and live chat. In the meantime, if you want to improve your business skills, Bexplus analysts are always ready to help.
100% bonus to help you maximize profits
Double deposits, double profits. Users can get a 100% deposit bonus for every deposit at Bexplus. If you deposit 1 BTC, 2 BTC will be credited to your account and the winnings from the bonus can be withdrawn. All users can join the promotion and get up to 10 BTC in bonuses.
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