Oil Futures Plummeted, Will Bitcoin Suffer the Same Fate?

April 20 was definitely a day to be remembered as the May futures of West Texas Intermediate (WTI) crude sank below zero, a first in history.

The reason behind this unprecedented plunge could be attributed to the on-going coronavirus and the expiration of May futures of WTI, which saw investors close their positions to avoid physical delivery. As the world is still watching the scene in shock, some start to question whether this collapse may affect other assets, especially Bitcoin. For those engaging in Bitcoin leverage trading, things are more relaxed as Bitcoin leverage trading is expected to weather this storm and even come out stronger.

What Is Bitcoin Leverage Trading?

Sharing some similarities with traditional futures trading, Bitcoin leverage trading allows traders to gain profits from the price difference of Bitcoin. Traders need to predict the direction of the price, open a position, and then trade at a time they deem suitable. In leverage trading, there is a broker who lends funds to traders so traders can leverage their positions and get greater market exposure with a relatively small margin.

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The leverage rate offered varies from broker to broker. Bexplus, founded in Hong Kong in 2017, is one of the few crypto trading platforms to offer a 100X leverage.

How Is Bitcoin Holding Up?

The major reason for the dumping of the May futures was that the storage space for oil was starting to fill up, so sellers paid buyers to offset storage space costs. Although Bitcoin leverage trading is similar to WTI futures trading, Bitcoin traders have no concern in storage or physical delivery. Besides, the drop in oil prices is also largely influenced by its excess supply. Since bitcoin's supply is predictable, Bitcoin is safe from this problem. Moreover, with the third halving coming, it is very possible that the price of bitcoin will go up.

Start Your Investment With Bexplus

Choosing the right platform greatly improves your trading experience and saves you from a lot of trouble. Bexplus is a mature crypto derivatives trading platform providing reliable service and protection via a multi-signature encrypted cold wallet, a distributed server, an anti-DDoS protection system, and more technologies.

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Even the novice investors can soon familiarize themselves with Bitcoin leverage trading by practicing in the trading simulator. The intuitive but fully-equipped interface helps you tailor-made your trend monitor.

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Another feature of Bexplus is the Limit Orders option. With enough available margin, your order will be automatically executed when the price reaches your open price. This could free you from repeatedly checking the market. Furthermore, you can always trust the 24/7 market fluctuation notification of the Bexplus App available on Apple App Store and Google Play to help you keep up with opportunities.

Bexplus is now offering a 100% Deposit Bonus to help users boost their fortune through Bitcoin leverage trading. The promotion is open to both new users and existing users. The more you deposit, the more bonus you can get.

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Furthermore, you are always welcome to become an affiliate to get up to 50% of the transaction fee from your referee 's transaction. If your referees deposit in 10 BTC, you will get 5 BTC which can be used in leverage trading as well as withdrawn.

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