While Bitcoin’s immense 200 percent growth this year seems like a major cause for celebration, there is also a bigger picture. The fact that the number one coin shows its volatile nature once again won’t sit well with regulators who are concerned about its volatile price swings.
Bitcoin is above $10,000, again
After tanking below the $10,000, the price of BTC recovered once again, rallying by more than 15 percent on June 2. At this point, another major retracement seems unlikely, but, as Coindesk points out, BTC has to rise above $12,448, its June 28 high, in order to have a shot at printing a new ATH this year.
Bitcoin’s enormous volatility wasn’t left unnoticed by regulators. Multiple experts recently opined that Bitcoin’s wild price action has destroyed any (minuscule) chances of the SEC approving a cryptocurrency ETF.
Moreover, Britain’s FCA recently proposed to ban cryptocurrency-related financial instruments due since they could incur substantial financial losses for retail investors.
An opportunity for traders
Bexplus is one of the leading derivatives trading platforms that allow its customers to open futures contracts in three different cryptocurrencies – Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). On top of that, it has recently added support for Ripple’s XRP and EOS.
The best thing about Bexplus is that they offer trading with a whopping 1:100 leverage, which means that you can turn 0.01 BTC into 1 BTC if stars align.
If you averse to the risks that are associated with high-leveraged margin trading, Bexplus also offers you a possibility to earn an annualized deposit rate of 72 percent.