Every Bitcoin maximalist knew it will happen. Nobody knew when. On what was Friday evening and Saturday morning in most of the places on Earth, BTCUSD skyrocketed from around $7,450 to around $10,400 in just a few hours.
While big whales were playing their game, small individuals could benefit as well. All you had to do was to keep an eye on cryptocurrency markets and have a mobile trading app loaded and ready in your pocket.
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Once the news came, you didn’t have to risk much. It all started with the Chinese President Xi Jiping stated that China has to “seize the opportunity” brought in by the blockchain technology. The country has been skeptical about the cryptocurrency and rather pushed in the way of restrictions of its development.
If you knew the context of Xi Jiping’s statement, you’d see the opportunity for a bullish charge. So far China was not only the place where some semi-legal crypto mining took place. Over 500 government blockchain projects have been launched since march. This declaration by the global superpower looked like a clear trigger.
It was enough to open a long position on BTCUSD at $7,450. With you can plan ahead and do analysis on your desktop using handy drawing tools, and later execute your strategy on your mobile with the same app.
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What’s next with Bitcoin? Well, in the next two months BTCUSD can attack the $13,800 resistance level. On the bearish side, it may as well drop to $8,800. There are no easy answers, and every cryptocurrency trader should stick to his or her strategy.
When margin trading markets as volatile as cryptocurrency execution is the king. You need a platform that offers the lowest fees, free accounts in any fiat or cryptocurrency you can think of, and finally an option for a high leverage trade.
If you have limited funds on your account, and face a great opportunity, use high leverage to make the most of it. Even with $50 on your account you can make thousands.
Trading with is a low risk, high reward venture. Make sure you don’t miss the next opportunity. You don’t need to install any app, just log in to app.simplefx.com, open a live account in any currency you want and have some real money ready for your next move.
Disclaimer: The content of this article was provided by the company, and does not represent the opinions of Finance Magnates.