Crypto volumes have been falling since May. Bitcoin, the largest cryptocurrency by market capitalization, changes hands for $ 32,000. It has struggled to recapture $ 35,000 several times over the past few weeks and has failed. Ethereum, the world’s second largest cryptocurrency, also lost nearly 50% of its value, from $ 4,000 to $ 2,000.
With Bitcoin continuing to hit lower lows, investors can’t help wondering if the bear market is ahead. Also, with the prospect of higher interest rates and stricter regulations, many investors have grown weary of BTC and altcoins. Worse still, Bitcoin will face two hurdles in the coming weeks; whether or not it could overcome them can determine which direction Bitcoin will go in the short term.
The Grayscale Bitcoin Trust is scheduled to go live in July. The trust manages 650,000 bitcoins and around 5% of the fund will be unlocked within the period. July 17th is one of the longest days of the activation period. The fund has been trading at a discount for several weeks. The market assumes that when the trust expires, investors will sell part of their holdings and thus put pressure on the prices of GBTC and Bitcoin.
Another thing that concerns investors is the strict regulation of cryptocurrencies from Europe. Binance, one of the largest crypto exchanges in the world, is not allowed to operate in the UK. Binance has now temporarily suspended euro bank deposits via the single euro payments area. With Europe putting CBDC on the agenda, Bitcoin is likely to face fierce competition in European markets.
Traders fearfully wait for a clear sign, but market sentiment is dominated by the bears. While now may not be a good time to spot trading, traders can make a profit by shorting Bitcoin using futures contracts.
How do you invest in the downside?
Futures trading is one of the most popular tools to grow your wealth. You can take advantage of price fluctuations to make money by speculating on the direction of the crypto price. Bexplus is a leading crypto derivatives platform accredited by MSB (Money Services Business). Bexplus offers 100x leverage in BTC, ETH, Dogecoin, LTC and XRP futures contracts. Bexplus is headquartered in Hong Kong and is trusted by over 800,000 dealers from over 200 countries / regions including the USA, Japan, Korea and Iran. No KYC, no deposit fee, traders can get the most attentive services including 24/7 customer support.
How to start
Registration
Bexplus does not require a KYC, so you only have to open an account with an email address in 1 minute. As soon as the registration is completed, 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 can learn to analyze the market and keep a clear head at all times. The best way to improve your skills and mindset is to practice in the free demo account.
Each user is given 10 BTC to start with, which is refillable so you can try different strategies as many times as you want.
Make a deposit and claim bonuses
No deposit fee is required. 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 get more profits, Bexplus offers a 100% deposit bonus to every dealer. Deposit 1 BTC and get 2 BTC, and up to 10 BTC is available for each deposit. The bonus is not withdrawable but can be used as a margin.
Earn passive income with Bexplus
If you are not trading, you can transfer your BTC to the interest-bearing wallet and up to 21% annualized interest.
Interest is calculated daily and the proceeds of the deposit are accounted for monthly. The monthly interest is calculated at (S * I / 365 * 30) = MI. S stands for the sum of the deposit, I for interest and MI for the monthly interest.
The crypto market is full of opportunities, don’t hesitate to join and claim your profit! Join Now!
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