Bitcoin dropped nearly 35% in May, marking one of its biggest monthly drops recorded.
Over the past two weeks, owing to the twin consequences of environmental concerns and tighter regulations, we’ve seen a lot of roller-coaster price changes across the crypto market.
Starting from May 12 (UTC), the Bitcoin market crash led by Elon Musk has been continuously fermenting.
Due to the anecdotal tweet and rumor, Bitcoin took a drop of more than 10% to $42,204 on May 16 (UTC), shrinking by nearly 30% from the high of $59,543 at the beginning of May.
Afterward, with China imposing a crypto crackdown, Bitcoin was down around 30% within 24 hours, fluctuating from a high of $43,573 to as low as $29,859 (on Bitwells) on May 19.
The May 19 crash produced a significant slump in the Bitcoin price. Since then, Bitcoin has been struggling to penetrate through the resistance of $40,000. However, with more regulations stepping up a gear in the crypto market, Bitcoin failed to achieve a real breakthrough. In the early morning of June 4th（UTC), because of an implicit tweet by Musk, Bitcoin slid sharply again. As of now, it is stuck at the support level of $36,000.
From above, we can see that cryptocurrencies can go up and down at any time responding to various news. The crypto market is more volatile than many investors expected.
While high volatility creates risks, it also brings considerable profits. Here, you need to know and grasp one of the most popular tradings in the crypto market.
Leveraged trading enables you to maximize your profits with a small margin. Take 100X leverage as an example.
While Bitcoin is trading at $10,000, if you use 1 BTC to open a long contract, your contract will worth 100 BTC.
After a day, you closed the position when the price reached $11,000. Your profit will be ($11,000-$10,000)*100BTC/$11,000=9.09BTC, and ROI (without transaction fees) will be 909%.
Confronted with market volatility, many traders, especially beginners and weak hands, appear to be at a loss. Thus, you need to find the right trading exchange.
Trusted by more than 200,000 traders in over 200 countries/regions around the world, Bitwells is a futures trading platform focusing on the Bitcoin market, providing futures leveraged trading of mainstream digital currencies like Bitcoin, Ethereum, Litecoin, Ripple, etc. The company is registered in the UK and is jointly developed by Internet experts, cryptocurrency traders, and financial professionals. No KYC, no deposit fees, App and PC available, traders can get the most attentive services including 24/7 customer support.
Why Choose Bitwells?
- Transaction Security
Bitwells takes security measures similar to banks to ensure that the security of customer assets stored in trading exchanges reaches the highest standards. Several layers of protection have been implemented, such as multi-signature withdrawals and two-factor authentication (2FA).
- High Liquidity And Low Service Fees
Over 15 market makers guarantee the market liquidity and immediate transaction, which provides an accurate price. Bitwells does not require deposit fees from users. It charges 0.0005 BTC per BTC-withdrawal, which is below the global industry average (being 0.00059 BTC per BTC-withdrawal according to this report) and a quite competitive fee.
- Demo Account With 10 BTC
Once registered, users on Bitwells will be offered a real trading account and a demo account with 10 BTC. The simulation pattern is user-friendly, which prevents beginners from losing money without knowing the rules. Users can use the demo account to get familiar with the trading process and test trading strategies to improve accuracy.
- 100X Leverage
As a safe, stable, professional, and reliable cryptocurrency futures trading platform, Bitwells offers users trading with 100X leverage. With 100X leverage, traders can make 100 times of profits from both directions( long or short).
- No KYC
No KYC, only an email address is required to complete the registration on Bitwells. No KYC protocol means that your privacy can be guaranteed. Bitwells will not collect any information from you, and there is no need to worry about identity information leakage.
- 100 Deposit Bonus
Bitwells now offers a 100% deposit bonus as a thank-you gift for every user. When you deposit into Bitwells, the same amount of Bitcoin will be accredited to your account (max. 10 BTC each deposit). If you deposit 1 BTC, you will get 2 BTC, which you can use for transactions and make more profits.
If you are a newbie trader, a demo account with 10 BTC on Bitwells is your best choice for entering leveraged trading. If you are a veteran, the various advantages of Bitwells are worth trying.
Sign up on Bitwells and claim your 100% Deposit Bonus!