Connect with us

Hi, what are you looking for?

ELEVENEWS

Bitcoin

Will BTC go deeper down due to mining difficulty adjusts?

In mid-June, Bitcoin has increased the mining difficulty level to the maximum of 14.95% in nearly 2 and a half years. As we know, mining difficulty level is a measure of how hard it is for miners to get block rewards – new BTC generated. The higher the mining difficulty, the more expensive the electricity sources for miners to halt operations. For old miners, they may choose to shut down or sell-off bitcoin for the electricity cost.

However, according to BTC.com, Bitcoin mining difficulty is estimated to adjust on July 1. Mining difficulty is adjusted every 2 weeks to maintain the normal 10-minute block producing time. And in the past 2 weeks, the average of block time is around 9 minutes. If there are many miners competing to propagate blocks in less than 10 minutes, the difficulty of the next 2 weeks may be adjusted higher.

btc mining

Thus, we predict that BTC mining difficulty may increase again and a new turn of downward movement may occur.

Could we benefit from BTC mining difficulty increases?

Since we predict that BTC price may decline due to the mining difficulty increases, we can short BTC to make profits.

BTC perpetual futures contracts might be one of the most profitable trading products during the crypto bear market. In addition to price rising, we can also profit from a crypto-asset as its price is declining by placing a bet against it. With BTC futures trading, traders can open long or short positions and trade with the market trend, rather than sitting back and waiting out for the next market rally.

Where should we trade BTC futures contracts?

Bexplus is an advanced bitcoin-based cryptocurrency exchange offering 100x leverage crypto futures trading. The core feature of margin trading is the ability to utilize up to 100x leverage on all types of positions, be they long or short. Such high leverage and the ability to short bitcoin (or other cryptocurrencies like ETH, EOS, LTC, XRP, etc.) is yet a rare possibility on the majority of crypto exchanges, with maybe a handful of legitimate providers. With enough volume and activity in these markets, traders can actually use this volatility to their advantage when used in alliance with high leverage to profit from relatively small but predictable price movements.

bexplus
  • 100x leverage

As an example, say you want to buy 1 BTC at a price of $10,000. To open such a trade on a fiat-to-crypto exchange you would need to pay $10,000. If the Bitcoin Price goes up by 1%, so 1 BTC now is worth $10,100. If you choose to then sell them to secure your profit, you’d have made $100 from your original $10,000 investment.

Now let’s compare that to 100x leverage on Bexplus. Here you would only have to pay 1% open the same trade, which means $100 (0.01 BTC) to open a 1 BTC position. If Bitcoin’s price rises by 1%, you will still have made the same profit of $100, but at a considerably reduced cost.

bexplus
  • High liquidity & no KYC

Bexplus is the first platform to effectively aggregate liquidity, and from 5 top exchanges. This means that Bexplus traders will get the best possible price across all of the most popular exchanges. Prices are in real time, so order execution is lightning fast, as a result mitigates the risk of slippage. There are no KYC requirements; sign up with email address takes less than a minute. Users from 30+ countries around the world, including the USA, can trade futures contracts in Bexplus exchange.

  • Interests-bearing BTC wallet

Bexplus launches BTC Wallet especially for users who have not much experience in futures trading and want to earn money without risk. BTC wallet is an offline storage system encrypted with multi-signatured technology. All BTC stored in the wallet will be highly secured and protected. Deposit BTC in the wallet, you can enjoy up to 30% annualized interests.

  • 100% deposit bonus

Get 100% BTC bonus when finished deposit in Bexplus. Each user can get a maximum of 10 free BTC at one-time deposit. Deposit 10 BTC, you will get 20 BTC credited in your account.

bexplus

During the bearish market, the faster we trade on the market trend, the more chance that we can make a fortune. Place your positions now and get big gains!

News Source

Advertisement

Copyright © 2020 Elevenews