The price of Bitcoin briefly touched $12,050 on Tuesday, with Ether reaching a two-year high of $485. Together with precious metal, Bitcoin and altcoins have gained huge momentum in the past two months, and their upward trend is closely related to the slide of the US dollar.
It is generally acknowledged that when the U.S. dollar goes down and when the economy goes grim, investors will take safe-haven in precious metals. On one hand, a devalued dollar means that other countries’ currencies will see their value increased, which results in the increased demand for commodities, such as gold. On the other, the decline of the biggest world currency will drive investors to find alternative investment sources to store value. And gold has long been proved to be the most stable and trusted one.
According to the gold prices and u.s. dollar correlation chart of Macrotrends, it is clearly shown that prices of gold and U.S. dollar displayed a strong inverse correlation since March when the COVID-19 pandemic started to hit the global economy.
Meanwhile, Bitcoin has shown a strong correlation with gold. In late July, the U.S. dollar plummeted to a two-year low due to the spike of virus cases, which seemingly fueled the upward trend of alternative assets, including gold and Bitcoin.
Currently, bearish dollar forecasts gain popularity in Wall Street. Ulf Lindahl, the chief investment officer of currency manager A.G. Bisset even made the bold assumption that we would see the U.S. currency plunge 36% against the euro by 2021. If the dollar continues to depreciate, more investors will flock to Bitcoin, thus driving up the crypto’s price.
BTC futures trading – maximize profits with less investment
Bitcoin is expected to gain momentum from the weaker dollar, and we could gain a clearer view of Bitcoin’s moves based on the trends of the dollar and gold. If you want to earn big profits with small investment, BTC futures trading with 100x leverage is the best trading instrument that you can turn to.
To illustrate, with the 100X leverage offered by Bexplus, you can open a short position of 10 BTC and you only need to invest 0.1 BTC as margin. If you generate a 10% profit, you will earn 1 BTC, making your ROI 1000%.
Established in 2017, Bexplus is available worldwide including the U.S., Japan, Iran, India, and Korea. Without KYC requirements, you only need to verify your email then you could start trading within a few minutes. Its minimalist interface, demo trading mode, and 24/7 customer support are some of the features that set it apart from other platforms, making it an ideal choice for both beginners and seasoned traders.
- Demo Account with 10 BTC
What better way to improve your skills than practicing in the simulator. There are 10 replenishable BTC in the demo account for traders to practice as much as they like, without taking any risks. You can also learn to analyze the market and use the tool-kit with the demo account.
- BTC Wallet: up to 30% Annualized Interest Without Any Risks
Bexplus users can gain profits not only from trading. Join the Bexplus wallet to earn up to 30% annualized interest without taking risks. With up to 30% annualized interests, it is no doubt one of the most profitable rates in the industry. While most lending platforms require traders to deposit at least 1 BTC, traders can make a deposit starting from 0.05 BTC on Bexplus.
- Top Ranking Mobile Apps to Help you Trade Smartly
Bexplus mobile app ranks in the Top 5 of keyword search results related to bitcoin trading in 56 countries in App Annie. This full-featured app provides you with the same experience when using a computer, only far more convenient.
Bexplus mobile app has a 24/7 market notification to keep you updated with any huge market movement. All data and assets can be accessed through all kinds of devices including Windows, Macbook, Android phones, iPhones, and tablets.
- 24/7 Withdrawal and 24/7 Customer Support
You can submit a withdrawal request anytime you want. You can have your deposits back in as fast as 30 minutes during work hours. If you encounter any problems when using Bexplus, you can contact customer support via different channels, such as e-mail and live chat.
- 100% Bonus to Help You Maximize Profit
Double deposits, double profits. Users can get a 100% deposit bonus for every deposit on Bexplus. If you deposit 1 BTC, 2 BTC will be credited to your account, and the profits gained with the bonus are withdrawable. Every user can join the promotion and get up to 10 BTC bonus. Now active users can get 10% off of their transaction fee.
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Apple App Store: https://itunes.apple.com/app/id1442189260?mt=8