On June 2, Bitcoin and altcoins saw double-digit rallies, with Bitcoin briefly stood above $38,000, and dogecoin increased 40% once. The rally failed to spark hope among investors, and the bitcoin fear and greed index is at 24, indicating extreme fear. Investors have good reasons to fear as the market saw a 50% loss recently.
On June 4, Musk posted a tweet: Bitcoin, broken heart. Later, he tweeted again: Canada, USA, Mexico.
They are interpreted by most people as: goodbye Bitcoin (he may have sold his Bitcoin) and all the way south (bearish Bitcoin)
In fact, 5 hours after his release, Bitcoin fell by more than 10%.
One indicator shows that the recent rally could be another market top. In a Delphi Digital report, the MVRV ratio that measures Bitcoin’s market value against its realized value is analyzed.
According to the report, the MVRV ratio in May 2021 is similar to those in early 2011, late 2013, and early 2018. In these periods, Bitcoin price made ATHs before falling hard.
How to earn profits from the price drop?
Volatility is scary, but with the right tools, it’s greatly beneficial for earning money. With a bumpy road ahead, traders can engage in margin trading to hedge loss and earn profits.
Let’s see how we can benefit from the price drop of bitcoin:
Assume we used 1 BTC to open a short contract when bitcoin was trading at $35,000. Please note that with 100x leverage, 1 BTC can open a contract worth 100 BTC.
If the price of bitcoin dropped to $33,000.The profit will be ($35,000 – $33,000) * 100 BTC/$33,000 *100% = 6.06 BTC, making the ROI 606%.
Margin trading is a mature derivative in the crypto market. Established in 2017 and headquartered in Hong Kong, Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on BTC, ETH, LTC, EOS, XRP and etc.
How to start?
Bexplus requires no KYC, so you only need to open an account with an Email address in just 1 minute. Once registration is complete, a trading account and a demo account with 10 BTC will be opened automatically.
Practice Your Skills: A Demo Account
Successful traders are those who learn to analyze the market and could always keep a clear head. The best way to improve your skills and mindset is by practicing in the free demo account.
Every user is given 10 BTC at the beginning, and they are replenishable, so you can try out different strategies as much as you like.
Make A Deposit And Claim Bonuses
No deposit fee is needed. You can start your deposit at 0.001 BTC. Bexplus supports Bitcoin, ETH, etc., as well as USD, EUR, and GBP deposits.
To help traders earn more profits, Bexplus offers a 100% deposit bonus to every trader. Deposit 1 BTC, and you will get 2 BTC, and up to 10 BTC is available for each deposit. The bonus is not withdrawable but could be used as a margin.
Earn Passive Income With Bexplus
When you are not trading, you can transfer your BTC to the interest-bearing wallet and enjoy up to 21% annualized interest.
The interest is calculated daily, and the revenue of the deposit will be settled monthly. The monthly interest is calculated as (S*I/365*30)=MI. S represents the sum of the deposit, I stands for interest, and MI is the monthly interest.
The crypto market is full of opportunities, don’t hesitate to join and claim your profit!
Sign up to get a 100% bonus and use a simulated account to test your strategy.
*This is a paid article. The Cryptonomist didn’t write the article and didn’t try the platform. Invest at your own risk.