Why Cryptocurrencies are Plummeting? How to Avoid Risks?
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On 23rd April, Bitcoin fell to 50,000 USD, reaching a record low in these few months. In only one day, Bitcoin, which once stood at a height of 64k USD, fell more than 10k USD, a drop of more than 16%.
In addition to Bitcoin, other cryptocurrencies also plummeted. Within 24 hours, Ethereum plummeted by 18% and XRP by 40%. The dramatic decline of cryptocurrencies caused heavy losses for investors.
Several reports suggest that this round of plunge may be related to the following policies:
- Binance has been subject to the supervision of European Regulatory Authority due to its stock token offering, reported by the British Financial Times. Claiming that European regulators, including the British Financial Conduct Authority (FCA), are inspecting whether Binance’s this action complies with security rules.
- The South Korea Financial Supervisory Authority imposed a restriction on prohibiting internal employees from investing in cryptocurrencies. The government is devoting to combating illegal activities related to cryptocurrencies investment.
- President of European Central Bank Lagarde criticized Bitcoin’s role in increasing criminal activities in January this year, declaring that the cryptocurrency has always played an active role in “interesting business”. In addition, Turkiye Cumhuriyet Merkez Bankasi also announced that it will ban the use of cryptocurrencies in payments starting on April 30, stating that there are plenty of reasons to support the implementation of the ban.
Thus how to survive in this market tumbling?
Warm reminder:
- Spot-trading holders and long-term optimists are suggested to make hedging transactions with leverage till a stable market.
- Use leverage to maximize returns.
In response to the above reminders, we recommend understanding Bexplus.
To help traders earn more cryptocurrency, leading crypto derivatives exchange Bexplus has launched a 100% deposit bonus promotion to all traders. If you deposit 1 BTC, 2 BTC will be credited to your account. Every user can get up to 10 BTC for each deposit.
Bexplus has relisted XRP. XRP’s high volatility had made a comeback and currently presents more opportunities for traders to make profits…Taking advantage of the price swings and leverage offered by brokers, trading can easily generate 100% or even 1,000% ROI. Of course there are also double your losses if you Mistakes.
Why choose Bexplus?
Bexplus is a leading crypto derivatives platform offering 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts. Headquartered in Hong Kong, Bexplus is trusted by over 100K traders around the world, including the USA,UK, Korea, and Iran, ect. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support.
100X Leverage & How Does 100X Leveraged Trading Work?
Assume we use 1 BTC to open a long contract when Bitcoin is trading at 10,000 USD. Please note that with 100x leverage, 1 BTC can open a contract worth 100 BTC.
One day later, the price of Bitcoin increase to 10,500 USD. The profit will be (10,500 USD – 10,000 USD) * 100 BTC/10,500 USD *100% = 4.76 BTC, making the ROI 476%.
Now, with Bexplus’ 100% bonus, our initial investment would be 2 BTC, and our realized profit made with these 2 BTC will be 9.52 BTC, and the ROI will also be doubled to 952%.
With leverage, it’s important to be vigilant, as returns can be outstanding, but liquidations are easier if the price moves down.
No KYC
No KYC protocol is strictly carried out throughout every process. Registration only requires email confirmation and only takes a minute.
Demo account with 10 BTC
To help traders better familiarize themselves with leveraged trading, Bexplus has launched a trading simulator. There are 10 replenishable BTC in the demo account for traders to practice as much as they like, without taking any risks. You can also learn to analyze the market and use the tool-kit with the demo account.
What can I do with the bonus?
The bonus is not withdrawable, but traders can use it as margin to open bigger positions and take more profit. Profit made with the bonus is withdrawable. Besides, with bigger margin, traders’ positions are less likely to get liquidated when there are huge price swings.
You might miss the opportunity to buy cheap Bitcoin, but you can still make handsome profits with the revival of Bitcoin. If you are prepared to accumulate more BTC.
Join Bexplus and claim your bonus now!
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