Bitcoin surged to as high as $12,485 on Monday, breaking the crucial resistance within minutes. Although it dropped to $11,800 later, the $11,500 level is well-protected. Bitcoin’s gain in the past week is in tandem with the movement of gold, which once again stands above the $2,000 mark.
Currently, bullish sentiment dominants the derivatives market, with a majority of option open interest placing at above $12,000. “$12,000, $13,000, $14,100 and $16,000 are the spots with the greatest open interest, so the price is likely to settle on these as upcoming support/resistance,” says William Purdy, an options trader and founder of analysis firm PurdyAlerts.
More traders flock to the derivatives market, where they could employ more flexible strategies to earn profit. According to data, the derivatives market grew 13.2% in July, while total spot volumes witnessed a 0.5% decline. Currently, the volume of derivatives occupies 41% market share.
While this shows that more traders are interested in trading Bitcoin, which will drive up Bitcoin demand, it also means that the market is more vulnerable to volatility.
BTC Leveraged Trading – Make Profits from the Ups and Downs of Bitcoin
Leveraged trading is an instrument tailored-made for the undulant market. Traders can short or long bitcoin and use leverage to open contracts far greater than their initial investment.
Bexplus, a Hong-kong based crypto exchange, can be the option to help you make profits from the ups and downs of bitcoin. Bexplus offers 100x leverage futures trading on BTC, ETH, LTC, EOS and XRP.
For example, 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, and the ROI will be 909%. 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.
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!
Follow Bexplus on:
Apple App Store: https://itunes.apple.com/app/id1442189260?mt=8
Disclosure/Disclaimer: This article is sponsored and provided by a third-party source and should not be viewed as an endorsement by ZyCrypto. Readers should do their own research before having anything to do with the company, goods, and/or services mentioned in the above article.