Bitcoin Will Rally to $10,000 and BTC Futures Trading Hits Record High

Bitcoin breached above $9,500 and set another new high for 2019 reaching $9,798. It cleared the key $9,700 resistance and settled well above the 100 hourly simple moving average. At the moment, the price is consolidating gains between $9,600 – $9,700 level. The current price action is positive and suggests more gains above $9,800 and $9,900. According to data from CoinMarketCap, the BTC rally was also accompanied by a large uptick in the 24-hour trading volume, an increase of $9 billion is added overall. With Bitcoin price in such close proximity to the important psychological price barrier of $10,000, an attempt will be made in the coming days, and if it is broken, according to Tyler Winklevoss, a crypto billionaire, $15,000 will be broken next.

BTC Futures Contracts Hit Record High

While bitcoin bullish run seems to be having a breather, the open bets in CME (Chicago Mercantile Exchange) have hit record highs for two consecutive days. It’s worth noting that open bets have continued to surge along with the BTC price this year. Till now, they are nearly 80% up from the levels seen in June 2018. An increase in open interest along with the price rising mostly indicates buy-up (long) positions are being built up.

JPMorgan recently pointed out that the difference in trading volume between cryptocurrency exchanges and futures exchanges like CME is a sign of increasing institutional participation in Bitcoin market. According to financial markets analyst Alex Krüger, the trade volume of XBT futures contracts soared to unimaginable highs owing to the larger price effect and institutional adoption that buoyed the BTC market. BTC futures market might become dominant instead of the spot market.

Make Greater Profits with BTC Futures Trading

Leverage trading is the key feature in Bitcoin futures trading, which is a tool that allows traders to take profitable advantage of small price movements and multiple gains. In addition, futures trading enables traders to buy/long or sell/short, giving traders more chance to make money from the BTC market. Different exchanges provide a different leverage ratio. The higher leveraged trading can lead to massive returns, but also to equally massive losses if you make the wrong predictions on the market trend. 100x leveraged bitcoin futures trading is very popular among professional traders and whale investors.

  • Spot Trade vs. BTC Futures Contracts

For instance, let’s say that you want to invest 1 BTC in BTC futures contracts with 100x leverage and going long (i.e. when BTC climbs from $9,700 to $10,000). If you had only 1 BTC in spot trades, you can only earn $300.

But in 100x leverage futures trading, with 1 BTC you can buy in 100 BTC contracts. If you open 100 BTC long position at the price of $9,700, you will gain 100 BTC * ($10,000 – $9,700) /$9,700 = 3BTC = $30,000

Bexplus Exchange is one of the world-leading futures exchanges with no spread in the cryptocurrency area. It provides Bitcoin, Ethereum and Litecoin perpetual contracts (buy-in or sell-out anytime without expiration) with 100x leverage. Added 100x leverage, you can purchase 100 BTC contracts with only 1 BTC as margin. Stop-profit and stop-loss can also be set to lower the risks.

Activities to Earn Free BTC in Bexplus Exchange 

  • Get 100% Free BTC Bonus, Up to 10 Free BTC is Available

Deposit BTC in your account, you will get 100% free BTC matches your balance. You can get 10 free BTC if you deposit 10 BTC in.

More: https://www.bexplus.com/activity/cash_back

  • Join Gift June Activity to Win Free Gifts

Joining Bexplus’s Gift June activity, you will have a chance to win presents including, Apple watch, iPad, Kindle, etc. Not only can you make profits on BTC futures trading, but also get wonderful gifts.

More: https://www.bexplus.com/activity/gift_june

  • Earn Up to 72% Annualized Interest with Upgraded BTC Wallet

Balance in the upgraded BTC wallet will be calculated annualized interest which will be up to 72%. Easy to get profits without trading!

More: https://www.bexplus.com/activity/interest

 

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.