At the press time, less than 100 days away Bitcoin’s halving, which will take place in May 20, 2020.
Speculation on how halving event will affect BTC price is rife. The previous two bitcoin halving events have proven to be an important catalyst that propels BTC into a new bull market.
Since Bitcoin’s creation in 2009, there have been two halving events. The first happened on November 28, 2012, and the second on July 9, 2016.
Please Note: This is a Press Release
The First Halving Performance
At the first halving on November, 2012, Bitcoin price rallied from a bottom price of $2.01 to the top of $270.94 with the increasing rate of over 13,000% during approximately 513 days. After that, the bear market lasted 87 days or so with BTC price declined 80% in 2013.
The Second Halving Performance
The second halving was an important event that attracted many “outsiders” to enter the crypto market. It took 1068 days for BTC to increased 12,000%, from $164 bottom to $20,074. A similar pattern was witnessed.
Historically, the Bitcoin Halving has been a key catalyst that pushed BTC price to new all-time high.
While this has happened in the months before and after previous halvings – causing bitcoin’s price to appreciate rapidly.
With this in mind, to date, Bitcoin price has taken over 390 days to rally over 350% since its $3,150 bottom in December 2018. If the recurring tendencies continues, to say the least, Bitcoin will go up to $25,000.
These halving trends have played into the narrative that Bitcoin should rally to a certain level based on the exactly 50% cut. However, the circumstances surrounding each halving are different and demand for bitcoin can fluctuate wildly before halving. So, how can we profit from the months-long market fluctuation?
Bex500 Traders – Profit from Market Volatility with BTC Futures Trading
Bex500 exchange is a bitcoin-based derivatives platform that provides multiple trading products, including crypto perpetual contracts, Forex, Commodity and exclusive double contracts (200x leverage).
For bold and experienced Bex500 traders, they are apt at getting profits during the market fluctuation with 100x leverage perpetual contracts. Let’s check how:
BTC futures is kind of short-term trading. Learn to identify the trendlines is quite important. Trendlines can be used as the indicators to enter or close a position.
- Uptrend line indicates the support level. If the prices stay above uptrend line, there will be a bullish run which is chance to open long positions.
- Downtrend line is thought of the resistance level. If the prices fail to break this line, it will turn bearishness. In this case, traders can open short positions and get profits.
- Sideways trendline is the result of a price traveling between strong support and resistance level. It occurs after the trendline is too steep and the market saves up strength to make a reverse.
Now look back to the current BTC market. After BTC failed to break the strong resistance of $9,000, it consolidates between $8,500 and $8,800. With 100x leverage futures trading, you can profit from this small price fluctuation:
- If BTC cannot stay above $8,800, it will switch its upward direction and retest the $8,500 key support. You can short BTC and set the stop-profit at around $8,550.
- On the contrary, if BTC price doesn’t break below $8,500, it will also surge back and retest the $8,800 resistance. You can also long BTC and set stop-profit at around $8,750.
- To invest in 1 BTC 100x leverage perpetual contracts, you can earn about 3 BTC by shorting or longing BTC based on the trendline analysis.
Note: Bex500 also offers you Double Contracts which can leverage your margin and profits up to 200x.
Grasp the chance to get profits from the recent repeated price fluctuation. If you are not experienced traders in crypto futures trading, you can try in the Bex500’s trading simulator.