The US stock market is on the rise again. On Monday, Nasdaq reported a 2.2% rise which was its best one-day gain since May. The Dow also climbed 460 while the S&P 500 gained 1.6%. The US stock market is not the only one enjoying a good day: across the pacific ocean, China is encouraging and anticipating a long-waited bull market. Its CSI 300 index of Shanghai- and Shenzhen-listed shares soared 5.7% on Monday, reaching its five-year high.
Enter 2020, Bitcoin has shown strong correlation, or "cointegration", to the S&P 500. The S2F model creator PlanB even predicted that Bitcoin will hit $190,000 should the index pass 4,000 points.
Despite the pandemic continuing to cause trouble in the country, analysts maintain a positive outlook towards the stock market on the whole. Peter Berezin, the chief global strategist of BCA Research, shared that: "Nevertheless, we would ‘buy the dip’ if global equities were to fall 5% to 10% from current levels. While the pace of reopening will slow, there is little appetite for the sort of extreme lockdown measures that were implemented in March...Around the world, both fiscal and monetary policy will remain highly accommodative, which should provide a supportive backdrop for stocks."
Meanwhile, the number of hourly newly-registered Bitcoin addresses has hit a two-year high of 22,390, indicating that Bitcoin's demand could gain a big boost. Combined with the prospect of a big move, it is very possible that Bitcoin will soon retest the $9,600 and even $10,500. At the time of writing, BTC/USD reaches $9,400, a level we had not seen since June 25.
How to maximize profit from the uptrend of Bitcoin?
Buying Bitcoin and waiting for its price to go up is surely a good choice in the bull market. But is it the best one? Using leverage, we can multiply our position with the same initial capital and maximize profits!
For example, in an exchange 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 $9,000 and close it when Bitcoin is trading at $9,500, our profit will be ($9,500 - $9,000) * 100 BTC/$9,500 = 5.26 BTC. Without 100x leverage, our profit will only amount to 0.0526 BTC.
OK, now a 500% ROI is really exciting, but do you know there is one way to double your ROI?
The answer is actually very simple: we double our initial capital. With the 100% bonus of the Bexplus exchange, we can open bigger positions and gain more profits. Deposit 1 BTC and you will get 2 BTC credited to your account.
Bexplus is one of the most popular futures crypto exchanges offering 100x leverage. Traders can trade BTC/USDT, ETH/USDT, EOS/USDT, LTC/USDT, and XRP/USDT on its user-friendly trading interface. Even beginners with little experience in futures trading or bitcoin trading can learn to trade within a short period.
Features of Bexplus:
- Concise and Intuitive Engine
