As one of the best-performing assets in 2020, the Bitcoin price has surged more than 66.84% year to date, while the S&P 500 achieved a single-digit rally. After accumulating for a week, Bitcoin started to flirt with the $12,000, a critical resistance before $15,000, for several times on Sunday.
Analysts believe it still has a strong upside for the following reasons.
- The weakening U.S. dollar will drive investors to evaluate their portfolios and assets such as precious metals and bitcoin( “the digital gold”) tend to gain a boost. Just one week ago, investors were debating whether gold would hit $2,000, and now it has soared to $2,032. Silver also continues its winning streak.
- New retail investors flock to bitcoin with new BTC addresses continuing to rise. The new demand for bitcoin serves as a strong push for the price to rally.
- The concern for inflation and currency depreciation drives people to look for alternatives, and the crypto market is one of the most popular safe havens to both institutional investors and retail investors.
According to technical analyst Edward Morra, the $11,600 to $11,700 range is well protected, thus lowering down the risk of a big pullback. But since $12,000 is one of the toughest nuts to crack, we might expect a return of bitcoin’s volatility.
How to take profits from the upcoming rally?
The upcoming rally of bitcoin creates abundant opportunities for us to take profit. Now is the best time to try leveraged trading, which enables us to open big positions with small margins.
For example, in an exchange that offers 100x leverage, our initial capital will increase 100 times. If we use 0.1 BTC to open a long contract at the price of $10,000 and close it when bitcoin is trading at $11,000, our profit will be ($11,000 – $10,000) * 10 BTC/$11,000 = 0.909 BTC. Without 100x leverage, our profit will only amount to 0.09 BTC.
OK, now a 909% ROI is really exciting, but do you know there is one way to double your ROI?
The answer is actually very simple: we double our initial capital. Bexplus Exchange offers every user 100% deposit bonus to maximize profit. Deposit 1 BTC and 2 BTC will be credited to your account. More margin also means your positions will be less likely to get liquidated.
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.
- 10 Free BTC for Simulated Trading
Bexplus users can get a demo account to simulate the real trading environment and strategy with 10 BTC. You can practice trading skills and learn about how to analyze the market trend with the trading simulator. Even if you make wrong predictions and analysis, you will not lose a penny.
- BTC Wallet: up to 30% Annualized Interest Without Any Risks
Bexplus users can gain profits not only from trading. Join the Bexplus wallet, you can earn up to 30% annualized interest without taking risks. With up to 30% annualized interests, it is no doubt one of the most profitable rates in the industry. While most lending platforms require traders to deposit at least 1 BTC, traders can make a deposit starting from 0.05 BTC on Bexplus.
- Trade Freely on Android & iOS
The top-ranking Bexplus app integrates all the necessary functions and tools (real-time charts, a variety of indicators, news alerts and etc.) while keeping a minimalist and intuitive interface. With the Bexplus app, you can manage your account anywhere and anytime you want. Furthermore, the 24/7 notification could keep you updated with big price movements, making it easier to secure your positions.
Another bull run is brewing. If you miss the time to invest in bitcoin when it was trading at double-digit, don’t miss the opportunities to make handsome profits now. Join Bexplus and start to accumulate BTC!
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