Bitcoin has shown around 200% price soar in last six months: one of the main reasons for such a bullish run could be expectations that leading tech companies (especially Facebook with its Libra) are about to de facto legitimize crypto by entering the market. Considering recent news made by U.S. regulators, bitcoin bull run could be over, but some investors shouldn’t give up hope: better to change the way you invest.
Bitcoin last week has been experiencing difficulties with recovering above $10,000, and has been trading between $9,400 and $9,900, briefly exceeding ten thousand mark on Thursday, August 1. It could mean that there is an increasing chance of a decline to $9K, at least to the level of the next round.
The current stagnation in the cryptocurrency market is taking place in the wake of a series of statements by U.S. officials, who seem to be finally interested in starting to control the cryptocurrency market.
Earlier in July, President Donald Trump stated that he “does not like Bitcoin”, the value of which, he stated, consists of air, and which is used for illegal money transactions such as money laundering. Later, the comments of Trump-appointed Secretary of Treasury Steven Mnuchin added fuel to the fire.
On July 31st we saw U.S. Senate Banking Committee hearing on regulatory frameworks for digital currencies and blockchain, where its Chairman Mike Crapo was quite positive towards bitcoin, stating that “digital technology innovations are inevitable.”
However, big industry players are expressing concerns about U.S. attitude towards crypto: Binance announced its plans to open a U.S.-based branch by giving up some of the tokens in order to correspond with U.S. regulators requirements. U.S. investors make up the largest part of crypto investors, and the possibility that some assets will be outlawed, making the whole situation bearish.
An outright ban is possible but unlikely, but at the very least the Internal Revenue Service aims to make crypto investors life that much more difficult, and have issued a threatening letter to 10,000 holders of cryptocurrencies. The letter reminds taxpayers to report crypto-related taxes which in the past the agency has admitted to lacking clarity.
Investors are afraid that more regulations on cryptocurrency are about to come, especially during the autumn, when the U.S. congress is back after recess.
Anyway, by simply changing investment instrument, investors do not need to worry about price drops anymore: leveraged trading could be the problem’s solution.
How crypto investors gain profits by trading on Bexplus with leveraged margin trading
By margin trading we particularly mean bitcoin futures trading. Future contract is an obligation of one side to buy a certain amount of an asset for a specific price in the future. On the other hand, the second side has an obligation to buy this asset. Bidding by properly predicting price direction (will it rise or fall?) the buyer can make a profit on the margin.
Sounds difficult? Beginners can try Bexplus trading futures using simulator, which reflects the real market conditions and allows you to learn how to beat on price direction. Bexplus is a fast-growing marginal exchange with x100 leverage. Leverage allows you to gain profits by investing small amount of BTC: by depositing 0,01 BTC you can gain a profit up to 10 BTC!
Bexplus advantages are simplicity, lack of spread, availability of a simulator, security, quick withdrawal and recharge, as well as additional bonuses (for example, we offer an annual interest rate for a deposit) and responsive 24-hour technical support.
Bexplus invites all its users to participate in our 100% bonus activity: if you deposit any amount of BTC, you can get a 100% bonus to your account! For example, if you have deposited 1 BTC, your account will have 2 BTC, which you can use for trading.
Besides trading, Bexplus also offers an opportunity to gain profits by using its built-in BTC wallet: by making a deposit users can enjoy up to 30% annualized interest rate which calculates daily and can be withdrawn.
Start earning with Bexplus today!
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