Bitcoin – a “Copy” of Gold Trend? Will BTC Go Up or Down?

2020-6-12 17:58

Coinspeaker
Bitcoin – a “Copy” of Gold Trend? Will BTC Go Up or Down?

Photo: Bexplus

Bitcoin saw over -6% drop yesterday which is the largest decline within a single day in past 2 weeks. One of the reasons that caused Bitcoin sudden drop is the stock market sell-off after the Fed FOMO meeting. The Dow Jones Industrial Average (DJIA) fell by 1,800 points.

Gold, as a widely recognized safe haven assets, surged to the highest point of $1.744 and continued an uptrend this week.

However, have you noticed that Bitcoin trend looks almost exactly like Gold?

After a greatly decline in March, both bitcoin and gold started a 1-month upward movement and nearly hit the former highest. (Gold’s uptrend move was stronger and it surged to the peak of $1.744 since the beginning of this year.)In May, bitcoin was sideway moving and testing the support of $9.000, and gold is consolidating at around $1.700.However, gold price pulled back at the beginning of June, while bitcoin continued the sideways.

Photo: Bexplus

From the above, we can notice that Bitcoin trend seems to be a slightly delayed version of Gold trend. Therefore, we may predict that Bitcoin will soon rally to break $10.000 resistance again. And the Bitcoin ball is still squarely in the court of bulls.

How to Greatly Profit from the Upcoming Bitcoin Rally?

Since we predict that Bitcoin may start the uptrend movement after the big drop yesterday, it is chance to long BTC and make great profit! BTC margin trading with 100x leverage is the best trading instrument that you can turn to.

As an example, opening a position with an initial margin of 0.1 BTC with 100x leverage is essentially equivalent to controlling a position size of 10 BTC. If Bitcoin gains in value by 10% during this time period, you would have a profit of $10.000 — all while only risking your initial 0.1 BTC margin.

Sounds great, right? So, where to trade bitcoin margin trading with 100x leverage?

Photo: Bexplus

Bexplus is one of the most popular futures exchanges in cryptocurrency market. It provides a variety of trading pairs including BTC/USDT, ETH/USDT, EOS/USDT, LTC/USDT and XRP/USDT with 100x leverage. By using leverage, cryptocurrency traders can increase their exposure to price movements and turn what would otherwise be small gains when spot trading into extraordinary profits.

Highlighted Features of Bexplus ExchangeNo KYC: Traders can easily register an account with email without the risks of leaking out personal information.Trading simulator: When you successfully sign up, you can get the 10 free BTC in the trading simulator which enables you to practice trading futures contracts without losing money.High liquidity: By utilizing an end-to-end optimized stack running on customer dedicated nodes, orders can be executed with low latency even during the huge market volatility.Mobile Support: Official Bexplus App for Android and iOS are downloadable from Google Play and App Store. It gives you chance to trade cryptocurrency futures contracts and profits on the go.Up to 10 BTC Deposit Bonus: All users in Bexplus are eligible to apply for up to 10 BTC deposit bonus at one time deposit. For example, if you deposit 1 BTC in your account, you will get 2 BTC credited in your account.