Bitcoin Voltage

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The cryptocurrency market has been affected by the geopolitical issues that have emerged recently. The conflict between Ukraine and Russia continues and various financial markets are still in the heat of the moment. Bitcoin has recently experienced tremendous volatility, soaring from $38,500 to $42,500 and then plummeting to $38,500 in a very short period of time. However, not all investors are intimidated by the current climate. Inflows also show that investors still believe in the cryptocurrency market.

Cryptocurrency Funds Record Largest Weekly Inflows Since December

According to CoinShares, digital asset investment products saw cumulative inflows worth $127 million in the week ending March 6. This is the highest weekly inflow since Dec. 12, 2021. The increase is also significantly higher than the previous week's inflows of $36 million.

This is a testament to investors' continued confidence in bitcoin. Despite the crash in early December, investors have repeatedly shown that their money is still in bitcoin, and with last week's inflows, there's no doubt about that.

Amid geopolitical tensions, bitcoin rallies as cryptocurrency investors appear to agree with U.S. executive action

President Joe Biden signed an executive order on March 9 requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues, according to the White House. The executive order is far less intrusive than the market had feared, essentially directing federal agencies and other key agencies to assess the role of cryptocurrencies in the "future of money. Notably, it directs the Department of Commerce to study how cryptocurrencies can help support U.S. competition in the global economy. Overall, the U.S. government appears to be taking an approach to accepting and coexisting with cryptocurrencies, rather than eliminating them.

What can we expect from BTC?

While global macro and geopolitical phases continue to create uncertainty in the market, long-term BTC holders are sitting tight and not selling their assets. Looking at the BTC Percent of Supply K-line chart on Glassnode, 61.72% of BTC held for more than 1 year has not moved. This percentage of holdings has been rising since the beginning of 2022 and has accelerated with the outbreak of the Russia-Ukraine war, demonstrating the holders' strong belief in the appreciation of BTC prices.

Bitcoin Voltage

All in all, it's too early to say whether the federal government will fully embrace cryptocurrencies, but the cryptocurrency executive order signed by Biden goes some way to showing that he sees cryptocurrencies as an important part of the U.S. economy, and there may even be some potential. Long-term play (buy and hold) hodlers are also supporting a rise in BTC prices.

How to profit from volatility?

Despite the positive outlook, the Bitcoin market will remain volatile for some time to come. Using the right investment approach can make volatility a powerful tool for making profits. BTC futures trading allows traders to go long or short BTC, so as long as their predictions are correct, traders can make money. Spot traders, on the other hand, can only profit when the price of Bitcoin rises. In addition, traders can borrow leverage from exchanges to increase their buying power and thus increase their profits.

For example, a trader opens a long position of 100 BTC at $38,000 with 100x leverage on Bexplus. Then, the price rises to $42,000. As a result, he will make a profit of ($42,000 – $38,000) * 100 BTC / $42,000 = 9.5 BTC, while the margin he needs is only 1 BTC.

Bexplus offers 100x leverage in BTC, ETH, DOGE, ADA and XRP futures contracts. Bexplus is trusted by over 1 million traders worldwide, including the US, Japan, Korea and Iran. There is no KYC, no deposit fees, and traders get the most attentive service, including 24/7 customer support.

Bitcoin Voltage

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Bitcoin Voltage

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*This article has been paid for. Cryptonomist did not write this article and has not tested this platform.

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