The Crypto Collapse And Stock Market Crash: How To Profit From The Fall With PrimeXBT
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
The cryptocurrency market is once again in complete carnage. The stock market is also in horrible shape, and the fabric of global markets is on the brink of overall collapse. This sounds bleak and frightening, but not all is lost.
Traders using the award-winning margin trading platform PrimeXBT are provided with professional trading tools that allow them to stay profitable during downtrends and keep capital protected when things get volatile. Here is a closer look at the full suite of professional trading tools and how top traders put them to use.
We also have some reassuring comments about Bitcoin from PrimeXBT’s resident trading expert, Dirk Hartig, that you absolutely want to read.
Recapping The Crypto And Stock Market Collapse
The stock market has fallen more than 18% since highs were set in late 2022. The tight correlation between cryptocurrencies like Bitcoin and Ethereum with tech stocks has taken the price of the emerging asset class down by more than 50%. Investors are in panic and tired of what feels like months on end of losses upon losses. The extended downtrend and significant drop have caused sentiment to turn highly bearish.
But it doesn’t have to be like this. Depending on the platform chosen, specific tools exist that make situations like what investors have experienced over the last several months not only less frustrating but it is possible to be profitable as well. While investors using Coinbase and other platforms are stuck either selling or HODLing, it creates a situation where you are waiting in cash and in fear of missing out on any gains when things turn around.
With PrimeXBT, however, long and short positions mean that traders can profit from when assets are rising and falling. When unsure of which direction the market might turn, both positions can be open simultaneously to hedge against risk. Stop-loss protection ensures that when selloffs get too deep, you get out as unscathed as possible without taking on huge drawdowns. Finally, take profit orders allow savvy traders to set targets to take profit, and simply forget about the trade until later when the target is reached, and profits are booked.
PrimeXBT Trading Analyst Dirk Hartig: When In Doubt, Zoom Out!
The last weeks have shown, once again, that trading and investing in cryptocurrencies is not a one-way road to financial freedom. Newcomers and novice traders have been left shocked and surprised at how fast the market can move,” said Dirk Hartig, PrimeXBT’s expert trader and analyst with more than 20 years of experience. “It underlines the importance of education before risking money in trading,” he continued.
“Nonetheless, past situations like this were also almost always a great chance to build up long term positions in Bitcoin and Ethereum with great returns of hundreds of percent down the road – if you were willing to HODL for 1-4 years,” Hartig said, suggesting there is still opportunity in the asset class despite the selloff.
“Should Bitcoin really approach its “realized price” (the approximate value of all the coins at the price that were bought divided by the amount of BTC that is in circulation) at currently 24,500 USD, it would present – in my opinion – an ideal buying opportunity. The last time this happened was in March 2020, and if one had bought there for around 4,000 USD, the investment would still be up by 750%, with Bitcoin currently being at 30,000 USD. When in doubt, zoom out!,” Hartig concluded.
All About The PrimeXBT Trading Academy & Contests
Hartig runs the PrimeXBT Trading Academy educational website at PrimeXBT, where he offers such information via regular market updates. The platform is also filled with in-depth educational videos so traders can learn trading strategies, tips on how to read the market, how to use the PrimeXBT platform, and much more.
By taking in the wealth of knowledge provided by Dirk Hartig in PrimeXBT, anyone can improve their skills, from novice to professional. PrimeXBT also provides a Contests section where users can compete in weekly trading competitions for a chance to win USDT prizes worth up to 100,000 USDT or exclusive rewards like NFTs.
Contests gives traders risk-free virtual funds to compete within a real-time simulated market environment. Not only is this a great way to practice, but the tool can be used to backtest trading strategies, and of course, there is plenty of incentive to try and win the prizes.
PrimeXBT: The Place To Trade S&P 500, Bitcoin, Gold, Oil, And More
Even with all of this mentioned, it is barely scratching the surface of what’s available at PrimeXBT. The trading platform offers more than 100 trading instruments across forex, crypto, commodities, and stock indices. The S&P 500, gold, oil, Bitcoin, and any other major asset is here, all under a single roof.
The platform also features cryptocurrency-focused services from Covesting, including the Covesting copy trading module and Covesting yield accounts. The Covesting copy trading module is a peer-to-peer copy trading community that connects strategy managers with followers who can profit synergistically. Strategy managers make an extra revenue stream, while followers can passively trade by copying others. Yield accounts offer a variable APY return in crypto rewards.
There is still more to discuss, but you will have to see for yourself. Sign up for PrimeXBT today to gain access to the PrimeXBT Trading Academy or any of the professional tools outlined here. There is even a free mobile app for Android and iOS devices to stay connected at all times.
