Image source: https://news.tradimo.com
Bitcoin has shown short-term growth in the end of July, when Fed Chairman Jerome Powell cut interest rates for the first time in more than a decade (continuing the actions of European Central Bank). World’s largest cryptocurrency’ price also rose when Chinese yuan fell below a mark of 7 yuan per U.S. dollar.
Financial Times Chief Correspondent Henny Sanders in her column for Nikkei Asian Review stated that current trend could be a sign of bitcoin becoming a safe haven asset: an investment that is expected to retain or increase in value during times of market turbulence, the most common safe haven asset is gold. Sender states that the actions of central banks are turning Bitcoin from a speculative instrument into a solid investment that can be used as a hedging instrument during macro turmoils.
According to a report from Grayscale Investments’ research unit, “Bitcoin has the potential to perform well over the course of normal economic cycles as well as liquidity crises, especially those involving currency devaluations […] [it has] store-of-value characteristics similar to real assets like gold, with hard-money attributes like immutable scarcity.”
Also, data from Bloomberg revealed earlier in August has shown that the correlation between gold and bitcoin has almost doubled in the last three months.
The data has shown that while the correlation between BTC and gold during the past year was at 0.496, in the past three months it has grown to 0.837. Coefficient of +1 indicates perfect correlation while -1 indicates absolute non-correlation.
Of course, regulators approval of ICE-backed futures trading on Bakkt also assures that bitcoin is closer to its aim to become a universally acclaimed asset.
When thinking about investing in cryptocurrencies most imagining buying bitcoins and waiting for the bull run to start. But this might be not really effective since you need to invest quite a sum to get any significant gains.
Marginal trading is becoming more and more popular among crypto investors: among leading platforms for marginal trading is Hong-Kong based Bexplus. Let’s explain how it works and what’s it advantages over traditional passive investing.
For example, let’s say you’d like to buy 1 BTC at a price of $10,000. To open such a trade on a fiat-to-crypto exchange you would need to pay $10,000. If Bitcoin Price goes up by 1%, so 1 BTC now worths $10,100. If you choose to then sell them to secure your profit, you’d have made $100 from your original $10,000 investment.
Now let’s compare that to 100x leverage on Bexplus. Here you would only have to pay 1% open the same trade, which means $100 (0.01 BTC) to open a 1 BTC position. If Bitcoin’s price rises by 1%, you will still have made the same profit of $100, but at a considerably reduced cost.
Why to trade on Bexplus?
Bexplus is beginner-friendly: it’s easy to learn (trading simulator available: register and get your free 10 BTC for simulation account), safe (most of the bitcoins are stored in the cold storage) and reliable (friendly 24/7 support is always ready to help).
Besides, time to time Bexplus have special offers for user: for example, right now by depositing any amount of BTC you can get 100% bonus which you can trade and gain more profits.
Bexplus BTC-Wallet
The BTC-Wallet is designed especially for traders, who is new to leveraged trading and don’t want to take high risks. BTC-Wallet is independent from trading on the platform: bitcoins in Saving Account won’t be considered as margin, so even if you have open positions, your assets in the Wallet are safe.
Platform offers various annual interest rates depending on the amount you deposited, it can range from 18% to 30%, see the full conditions below:
Start earning with Bexplus today!
Follow Bexplus on:
Website: https://www.bexplus.com
Facebook: https://www.facebook.com/Bexplusglobal/
Telegram: https://t.me/bexplusexchange
Twitter: https://twitter.com/BexplusExchange
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