While a lot of things around the world is going wrong, Bitcoin prices are still rising. People are still considering whether it would be a nice time to opt out. After several weeks, the Bitcoin prices are rising again. There was not much of a price movement when the Bitcoin trading closed last weekend. The trading volume was the lowest in 5 months. But things changed on Monday and before long, the prices entered five figures.
Are Bitcoins prices rising again?
Analysts were concerned that the sudden rise could be another bull trap. The $10 mark has been crossed about 20 times since July this year. So there can be no reason to believe that it would stick this time. There is much reason to believe from analyzing the monthly lows that the turbulence in this price range is helping build a stronger store of value for the upcoming bull market. This trend had been seen when the price had been trying to add digits. There was a push towards $11,000 when it came to Friday. There was a drop but the price held steady at $10,300. You can find more at https://trustedbrokerz.com/trading-software/bitcoin-revolution-review.
Considering everything, this is about $1,000 gain from the support of the previous week. The price has steadily shown a positive ride since then. Analysts are now discussing the possibility of a bull rally the likes of which had been seen in 2017. According to the latest Bitcoin market data, it is possible that a similar trend might take place.
Bitcoin Derivatives have got some derivatives
Binance announced that its users would get $0.22 million to test two competing futures platform. Now, it has announced that it has acquired the Chinese derivatives platform, JEX.
Bitfinex has launched two derivatives that have up to 100 times leveraging. While this seems very similar to BitMEX, Bitfinex has said that the tools would be mainly targeted towards hedging.
Some more information on the current trends
Bitcoin is always keeping the investors and analysts on their toes with huge market variations. A new crypto exchange has been launched by Bitcoin. There is a -0.3% fees and this would be somewhat of an introductory offer. While the valuation of Bitcoins was around $9,000, the top crypto exchange from Thailand closed down all of a sudden. It has been speculated that the move could be a victim of bureaucracy.
While SEC would be declaring its decision on the Bitcoin-ETF application of the upcoming month, VanEck would offer a limited version to some institutional investors. There has also been news of a $1 billion transaction in Bitcoins that has roused many brows. Most of the transaction could be traced to Huobi addresses.
With all these exciting developments and the price of Bitcoins on the rise, investors are ready to jump into action. The cryptocurrency has been making a lot of commotion since 2017 and even after the tragic fall, it came back into the business. Bitcoin Revolution can be your way of trading in bitcoins.