Juli 5

How to make money with Bitcoin in this side market?

After a quiet weekend in the crypto market, BTC futures opened with no relevant gap. The current side has completely forgotten about the volatility, but will it stay that way, or will it be the calm before the storm? Check out the analysis below to find out how to make money with Bitcoin in the current environment.

Bitcoin can’t be decoupled from traditional markets

Two weeks ago the financial markets closed with significant losses again, and Bitcoin was no exception.
The sentiment behind this was strongly influenced by the appreciation of the dollar, in the face of a new wave of fears about the possibility of increased pressure from the Coronavirus effect, capable of crashing the markets last March.
However, in the week that has just ended, the main stock markets managed to fall back a little, and maintain the recovery until today, which has led to a general environment of low volatility.
According to data provider Skew, cryptomonkets continue to move in close correlation with the main U.S. stock index, the S&P 500, which could cause fears for some, who believe in the possibility of another sharp drop in traditional markets.
However, we haven’t noticed any imminent demonstration of this yet, and the odds continue to favor an early escape of Bitcoin above USD 10,000. 
Fundamental factors are supporting this scenario. The amount of BTC in exchanges continues to decline, sentiment in the futures market is slightly up, supply is drastically reduced with halving, over 60% of total supply stationary from 1 year ago, and bulls regaining control for the short term.
Next Friday, the largest lot of 2020 options on Bitcoin Formula expires. It’s more than clear that volatility is about to arrive, it’s still not very clear which way it will explode; but from here I maintain my bullish view, and it will change only if the $8,700 is crossed.
Let’s go to the charts to understand how we can make money with Bitcoin, in the side market it’s going through.

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Veröffentlicht5. Juli 2020 von admin in Kategorie "Anwendung