Place/Date: - March 10th, 2022 at 3:23 pm UTC · 4 min read
Contact: Bexplus, Source: Bexplus
The crypto market has been affected by the geopolitical issues that have arisen lately. With the Ukraine-Russia conflict still raging on, various financial markets are still feeling the heat. Sell-offs have been apparent which have led to asset values dropping. However, not all investors are deterred by the current climate. On March 9, the price of Bitcoin rose from $38,500 to $41,800 within 6 hours, soaring by 8.5%. Inflow volumes also show that investors still believe in the crypto market.
Digital asset investment products registered $127 million worth of cumulative inflows for the week ending March 6, according to CoinShares data. It was the highest weekly inflow since Dec. 12, 2021. The increase was also significantly higher than the $36 million of inflows registered the previous week.
It is a testament to the faith that investors continue to have in bitcoin. Despite the early December crash, investors have repeatedly shown that their money is still on bitcoin, and with last week’s inflows, there is no doubt about this.
Although the maiden cryptocurrency has been on the choppy path for several days recently, the CoinMarketCap crypto community, which has won 82% historical accuracy, believes the asset will rally over 15% from the current price to trade at $48,145 by March 31. The target is based on votes by 83,489 members.
Despite good prospects, the Bitcoin market will still remain volatile for some time to come. Using the right investment method can make volatility a powerful tool for profit. BTC futures trading enables traders to long or short BTC, so traders can earn money as long as their predictions are right. While spot traders only earn profits when the price of bitcoin goes up. Furthermore, traders can borrow leverage from exchanges to increase their buying power, thus multiplying their profits.
For example, a trader opens a long position of 100 BTC at the price of $40,000 with Bexplus 100x leverage. Then, the price goes up to $45,000. As a result, he will make a profit of ($45,000 – $40,000) * 100 BTC / $45,000 = 11 BTC, while the margin he needs is only 1 BTC.
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