Affected by the anxiety brought by the omicron coronavirus variant and the crusade against cryptocurrencies and crackdown by multiple countries and organizations, Bitcoin suffered a slump in early December, after which the bulls have been struggling but have not got the excellent achievement. Bitcoin has basically been a horizontal price movement but hard to decisively recover to $50K level after slumping from $57,000 to recent lowest price $43,000. However, three pieces of good news revealed that the steep correction may not be a possible roadblock in its bull run.
Meta Provides Users Encrypted Payments in the US via WhatsApp
‘Limited number’ of people in the US will be able to send and receive cryptocurrency from within their WhatsApp chat. The new feature is powered by Novi, Meta (Formerly Facebook)’ s new digital wallet that launched six weeks ago. Payments will be made using USDP, a stablecoin pegged to the US dollar issued by financial services company Paxos. The token is also regulated by the New York State Department of financial services. Whatsapp’ s Will Cathcart and Novi’ s Stephane Kasriel took to Twitter to make the announcement on December 9th. “Starting today, a limited number of people in the US will be able to send and receive cryptocurrency using Novi on WhatsApp, making sending cryptocurrency to family and friends as easy as sending a message,” said Kasriel.
Bitcoin Hash Rate Increase 150% after 6 Months of Exodus of Chinese Miners
China, the world’s most dominant country in terms of BTC mining responsible for over 60% of the overall hash rate at the time, reiterated its ban on everything crypto and went after miners. However, as miners started to settle in other regions and the difficulty adjustment played its role, the hash rate began its recovery. Thus, it doubled by the end of August and is now nearly 2.5 times as it stands at 154 Ehash/s. More precisely, the metric has increased by 150% since the late June low and is close to the May all-time high. It fully demonstrates the robustness of the BTC blockchain and its ability to recover after such destructive events.
Bitcoin Whale is Buying a Large Number of Bitcoin
Michael Saylor, one of the most prominent bitcoin advocates, who is also the founder and CEO of MicroStrategy, announced the latest purchase earlier on December 9th. The company has accumulated another 1,434 coins for approximately $82.4 million in cash at an average price of around $57,500 per bitcoin last week. It is the tech behemoth’s second bitcoin buy in the past few weeks. The company’s total stash is now 122,478 bitcoins, which were acquired for $3.66 billion.
What to do Next?
With a bull run in sight, now is the time to invest in bitcoin. However, Big fluctuations still exist. If you want to maximize your profits and minimize the risk, here are two options worthy of considering.
Option 1: 100x Leverage Future Trading
The traditional spot can only buy up and wait for the rise to make profits. However, Futures trading enables traders to earn profits regardless of which direction bitcoin goes. By predicting the right trends of Bitcoin’s price, traders can earn greater returns within a shorter period of time. What’ s more, there is 100 times leverage to magnify our profits.
Assume we use 1 BTC to open a long contract at the price of $45,000 and close it when Bitcoin is trading at $50,000, our profit will be ($50,000 – $45,000) * 100 BTC / $50,000 = 10 BTC, making the ROI of 1000%. Without 100x leverage, our profit will only amount to 0.1 BTC.
Option 2: 100% Deposit Bonus
Do you know there is one more way to double your ROI? A 100% deposit bonus can help us open bigger positions and gain more profits. Deposit 1 BTC and traders will get 2 BTC credited to their account (Bonuses are not withdrawable, the profit obtained with the bonus can be withdrawn).
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