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Bityard Launches Copy Trading System for CFD Trading

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Bityard, a leading crypto contracts exchange, has recently announced the launch of a copy trading system for CFD trading. This will ultimately help beginners with trading activities and will also reduce the difficulty of crypto investment for them. 

It is revealed that through this copy trading system of Bityard, beginners will be able to learn trading from the experts. All the traders who will get copied through this will receive some extra profits for the same. The firm has made this service available for different platforms, which also includes mobile phones. 

Bityard Also Developed a Professional Copy Trading System

Bityard has also announced that it has developed a professional copy trading system, which is going to benefit both the copiers as well as signal providers. To copy a trader, a user just needs to find a trader with good performance and then complete the trading setting. It also helps the users to manage the position settings, and they can increase and decrease the margins as per their preferences. 

The traders that are available at Bityard, have been verified and approved by the firm and the users can easily copy them. The firm asks the traders to go through a strict verification process and only after its completion, the users will be able to copy them. 

A Special Trader Tag Function

Bityard has also introduced a special trader tag function that will help the users to easily find the traders. Once a trader gets copied, they will receive at least 8% commission for one copy. The firm has also added a lot of social features to its copy trading system and the traders will have their personal homepage. Through this, the users will be able to know more about the trader they are going to copy. It is also having an easy user-friendly interface so that no one faces any kind of difficulty while using it.

READ  FXCM Crypto Spreads Down More Than 32% In January 2020

#Bityard #CFD trading #Copy Trading System #Professional Copy Trading System #Trader Tag Function

Source: https://www.cryptoknowmics.com/news/bityard-launches-copy-trading-system-for-cfd-trading

Blockchain

This Bitcoin metric may be key to Gold’s flippening in the future

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At the time of writing, Bitcoin’s price was falling again, with the cryptocurrency’s performance breaking from its rangebound behavior between $49,000 and $51,000 yesterday. And yet, despite the scale of the drop, many still expected recovery to come soon enough. In fact, a few signs were visible just before BTC’s latest fall below $47,000.

Consider this – At the time, the volatility was up to 16%, rising by 2% post the dip from its ATH of $58,330. While it’s almost given that Bitcoin will soon bounce back, it’s worth examining what will drive such recovery. On CMC’s latest podcast, Jeff Ross of Vailshire Cap spoke about the prevailing narrative during this market cycle. According to him, the narrative of Gold 2.0 is the one that is playing out.

Gold has been repeatedly mentioned in popular narratives since the flippening of gold is seen by most as a major event. Since a majority of Gold bugs are key investors and hedge fund managers, there is potential market capitalization to tap into. After crossing the $1 trillion-mark, Bitcoin is even closer to $10 trillion, with the price following the S2F model like clockwork.

Gold’s S2F ratio was 62 while Bitcoin’s S2F was 52, at press time, and this may be one of the reasons for following S2F, despite the fact that many gold bugs will still find a reason to criticize BTC’s price action.

Will the narrative of Gold 2.0 play out this market cycle?

Source: Digitalk

The fact that Bitcoin’s annualized average daily volatility was observed to be above 120% and for Gold, it was a little over 20%, highlighted how the two are uncorrelated. Despite the two assets not being correlated post the decoupling in November 2020, the Gold 2.0 narrative is driving institutional investment inflows into Bitcoin. When Bitcoin’s S2F crosses 100, the flippening may occur and the comparisons between Gold and Bitcoin may cease to exist.

The cyclical movement of price, at the press time volatility of 16%, may continue in Bitcoin. In the last 24 hours alone, based on on-chain metrics, the trade volume has dropped by over 44% across exchanges. This drop in trade volume may be in response to the Bitcoin Options expiry on Deribit.

Previously, Options expiry events have had a significant impact on the price of the asset in the short-term. However, post the expiry, the price may sustain itself below its press time level, before recovering in a cyclical manner over the following month.

Will the narrative of Gold 2.0 play out this market cycle?

Source: Skew

Since this has emerged as a pattern in previous market cycles, it may repeat at least until the crypto’s price recovers and trades above the $55,000-level. A few days ago, the aggregate daily volume in BTC Futures on top exchanges was close to $180 billion. With a hike in volatility expected in the near-term, the figures for the same are likely to grow even more, especially if recovery is surely underway.


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Source: https://ambcrypto.com/this-bitcoin-metric-may-be-key-to-golds-flippening-in-the-future

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Blockchain

Litecoin, NEM, IOTA Price Analysis: 26 February

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Litecoin dropped below $180 once more, a level of significant importance from earlier in the month. Since Bitcoin has room to go lower, the altcoin market is likely to slip alongside it. Finally, NEM and IOTA dropped under former levels of support as selling pressure rose on the charts.

Litecoin [LTC]

Litecoin, NEM, IOTA Price Analysis: 26 February

Source: LTC/USD on TradingView

Litecoin was unable to stay above $192, with the cryptocurrency slipping back under the $180-mark that LTC bulls labored throughout January to break above.

The next levels of importance were $163, $149, $135, and $123 as supports. A move that far south didn’t seem to be on the cards, but a test of the $149-level was a real possibility.

The RSI sank below 50 to indicate that bearish momentum was on the rise. A bounce near $163 can push the crypto to the $170-$175 region, before coming under further selling pressure.

NEM [XEM]

Litecoin, NEM, IOTA Price Analysis: 26 February

Source: XEM/USD on TradingView

The highlighted region at $0.5 represented a strong region of demand for XEM over the past week, with the bulls valiantly defending it. However, the losses over the past few hours were too much and the bulls were forced to withdraw.

The Directional Movement Index showed a strong bearish trend in progress, while the Chaikin Money Flow was moving under -0.05 to show net capital flow out of the market, a sign of sellers’ strength.

The next area of importance was the $0.42-$0.44 region as possible support.

IOTA

Litecoin, NEM, IOTA Price Analysis: 26 February

Source: IOTA/USD on TradingView

The drop from $1.55 to $1.07 at press time represented a drop of 34% for IOTA within a week. This followed BTC shedding value, with the rest of the altcoin market dropping too.

Important levels of support for IOTA lay at $0.97 and $0.79, while the $1.08-level saw strong momentum behind a bearish candle breakthrough to the downside.

The momentum seemed to be strongly in favor of the bears and the MACD showed the same, moving under the zero-line. Trading volume on any bounces can be expected to be light. Over the next few hours, a bearish retest of the $1.08-level can be used to enter a short position.


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Source: https://ambcrypto.com/litecoin-nem-iota-price-analysis-26-february

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Blockchain

Nasdaq-listed Ebang announces Litecoin, Dogecoin mining plans

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Ebang International Holdings Inc., the Nasdaq-listed blockchain technology and crypto-mining hardware manufacturing company, is in the news today after it passed a resolution to launch a Dogecoin and Litecoin mining business.

According to the company’s press release,

“…the Company plans to operate its Litecoin (“LTC”) and Dogecoin (“Doge”) mining business by adopting a combination of deploying self-manufactured mining machines and mining machines purchased from other manufacturers as well as leasing computing powers from other mining farms and allow LTC and Doge to be mined simultaneously.”

Ebang will be using its already established Bitcoin mining business to build its credentials in the Litecoin and Dogecoin mining sector. It is worth noting, however, that a fixed schedule for the same hasn’t been presented yet, with no immediate timeline set for launch.

Chairman and CEO of the company, Dong Hu, welcomed the development and commented,

“The development of the Business will further promote our related cryptocurrency-focused businesses and increase our revenue. We believe this move will accelerate the Company’s transformation from solely a hardware manufacturer to a diversified and vertically integrated blockchain company with comprehensive involvements in the blockchain industry value chain.”

The aforementioned announcement came a few weeks after a chip for simultaneous Litecoin and Dogecoin mining was successfully designed by Ebang. This new design is intended to allow an upgrade to the crypto-mining machines currently in the market.

With a focus on creating more crypto-mining machines, the Chairman added,

“We have made tremendous efforts to build up our R&D team and accelerate product iteration and innovation. In the future, we will focus on developing more mainstream cryptocurrency mining machines, and we are considering designing more mining chips compatible with multiple cryptocurrencies. We believe it will help increase our revenue from the cryptocurrency mining business and optimize our product offering structure along the blockchain industry value chain.”

Greater participation of the company in the cryptocurrency world has also provided a boost to its fortunes in the stock market. The share price for Ebang International [NASDAQ: EBON] surged by 20.9% on Thursday morning, despite the fact that most of the crypto and stock market was laying low.


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Source: https://ambcrypto.com/nasdaq-listed-ebang-announces-litecoin-dogecoin-mining-plans

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