The crypto market is on the rampage again as many cryptos have hit new highs time and time again over the past week. November 9 bitcoins jumped to $ 67,800 while Ether hit $ 4,810. Solana, the biggest star of recent weeks, is still going strong and is aiming for the $ 300 goal.
Uptrend movements are a series of good news:
- Tether recently hit $ 1 billion USDC, bringing total circulation to $ 74.35 billion;
- Mastercard is expected to work with digital asset service companies Amber Group, Bitkub and CoinJar to bring encrypted Mastercard credit, debit and prepaid cards to Asia Pacific;
- in a report, Sheena Shah, chief cryptocurrency strategist at Morgan Stanley, said it is very likely that the banking industry will embrace stablecoin by giving away its potential;
On the one hand, we are witnessing an upsurge in adoption and demand, on the other hand, investors are not ready to let go of their cryptos.
Miners don’t want to sell. Miners typically cash in their bitcoin when the price hits new highs to cover the cost. And miners who don’t sell are usually interpreted with high expectations for another historic high. Since the halving in 2020, miners’ incomes have reached 550% and daily incomes are approaching $ 62 million.
Bitcoin’s reserve in exchanges continues to decline and hits three-year low, says CryptoQuant data. Bitcoin’s reserve in trading is a number closely watched by investors. A sudden influx of BTC often indicates a sell-off and an exit suggests that investors are not yet ready to take a profit.
With bitcoin taking $ 67,000, analysts now believe the next hurdle is $ 75,000. By comparing the price actions of previous Bitcoin bull cycles and this bull cycle, the crypto analyst ‘TechDev’ suggests a new uptrend for bitcoin and we are far from the top. His prediction for bitcoin in this bull cycle is 200,000 to 300,000.
How to invest in the Bull Run
With a bull run in sight, now is the time to invest in bitcoin. Futures trading is one of the most popular tools for growing your wealth. You can take advantage of price fluctuations to make money by speculating on the direction of the crypto price. Bexplus offers 100x leverage in BTC, ETH, DOGE, ADA and XRP futures contracts. More than 800,000 traders around the world trust Bexplus, particularly in the United States, Japan, Korea and Iran. No KYC, no deposit fees, merchants can receive the most attentive services including 24/7 customer support.
What is 100x leverage and how does it work?
Suppose we use 1 BTC to open a long contract when Bitcoin is trading at $ 60,000. With 100x leverage, we can open a position worth 100 BTC using funds borrowed from the trading platform.
A day later, the price of Bitcoin rises to $ 66,000. The profit will be ($ 66,000 – $ 60,000) * 100 BTC / $ 66,000 * 100% ≈ 9.09 BTC, which makes a return on investment of 909%.
Now, with the 100% bonus from Bexplus, our initial investment would be 2 BTC, and our profit made with these 2 BTC will be 18.18 BTC, and the return on investment on your deposit will also double to 18.18% .
With leverage, it is important to be vigilant, as the returns can be exceptional, but liquidations are easier if the price drops.
- 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 your trading skills and learn how to analyze the market trend with the trading simulator. Even if you make the wrong predictions and analysis, you won’t lose a dime.
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Bexplus users can earn profits not only through trading. Join the Bexplus portfolio, you can earn up to 21% annualized interest without taking any risks. With an annualized interest rate of up to 21%, this is without a doubt one of the most advantageous rates in the industry. While most lending platforms require traders to deposit at least 1 BTC, traders can deposit from 0.05 BTC to Bexplus.
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The best Bexplus application integrates all the necessary functions and tools (real-time graphics, various indicators, news alerts, etc.) while keeping a minimalist and intuitive interface. With the Bexplus app, you can manage your account anywhere and anytime. In addition, the 24/7 notification could keep you up to date with important price movements, making it easier to secure your positions.
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