The cryptocurrency market has been fighting a dangerous typhoon recently. Bitcoin (BTC) decreased considerably on Nov. 15 and followed it up with an even sharper fall on Nov 16. BTC has been moving downwards since reaching an all-time high price of $69,000 on Nov 10. According to sources, this is the second-largest liquidation event in history with the price of BTC plummeting from its 24-hour high of $66,359.45 to $60,588.18.
Meanwhile, the second most valued asset Ethereum (ETH) price crashed along with the rest of the crypto market on Nov. 15. the dangerous typhoon in cryptocurrency market led the ETH price to correct at $4,300 with a 7.65% loss round the clock.
Will Bitcoin Prices Continue to Heading towards the Storm or Rebound?
Several traders are contemplating a possible rally like that of 2017. Bitcoin bull TechDav even made a statement on Twitter and predicted that the crash will be surprisingly similar to history that occurred in 2017 and 2013.
However, as this time around the bull run could commence in cycles, which might lower the chances of extreme pullbacks. Traders might look out for overbought zones to extract profits. It would be wiser for any investor in a similar market storm this time than in 2017 when the crypto market was much new to people.
Popular crypto analyst Michaël van de Poppe mentions that the market corrects in multiple waves, and advises traders not to use the entire liquidity on the first dip. He also mentions that a correction of 20-40% is standard to take place, which has happened multiple times, in past cycles.
How to Invest in Extreme Markets
You may have no idea how to start your investment in such a volatile market. Actually, Bitcoin’s crazy price swings could be golden opportunities for us to make money relying on leverage as a trading tool. Bexplus offers 100x leverage and perpetual contracts on BTC, ETH, ADA, DOGE, XRP, etc. No matter whether the market is rising or falling, you can earn money.
100x Leverage: the best tool for making profits in volatile markets
In Bexplus that offers 100x leverage, our initial capital will increase 100 times. If we use 1 BTC to open a long contract at the price of $60,000 and close it when Bitcoin is trading at $65,000, our profit will be ($65,000 – $60,000) * 100 BTC/$65,000 = 7.69 BTC, making the ROI of 769%. Without 100x leverage, our profit will only amount to 0.0769 BTC.
100% Deposit Bonus: Double your ROI
Now a 769% ROI is really dramatic, but do you know there is one more way to double your ROI? Bexplus offers 100% bonus for every deposit, with which you can open bigger positions and gain more profits. Deposit 1 BTC and you will get 2 BTC credited to your account. (Bonuses are not withdrawable, the profit obtained with the bonus can be withdrawn.
Know more about Bexplus
Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on various trading pairs: BTC, ETH, ADA, Doge, XRP, etc. Bexplus doesn’t require KYC and is popular among over 800k traders from 0ver 200 countries/regions. In addition, it is safe for being accredited by MSB (Money Services Business). Download the Bexplus APP on the Apple Store and Google Play, you can manage your account and trade anywhere and anytime as you want.