BHEX Daily Crypto Watch, Perpetual Contract Strategy & Big Data(Feb 7, 2020)
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What is Perpetual Contract?
Perpetual contract is a derivative product that is settled in digital tokens such as Bitcoin (BTC)s (BTC). Traders enter either into a long (profit from upward trend) or short (profit from downward trend) position. Available leverage ranges from 1–100x.
Find out more about BHEX Perpetual Contract
Former Deputy Chairman of the NASDAQ Exchange said the application of blockchain and tokens will replace both the securities depository trust and settlement companies. The situation clearly shows companies in this sector will begin to embrace the blockchain.
Takako Masai, member of the Bank of Japan said the Bank has no plans to issue digital currency at this point in time. Banks are doing well in the intermediary role.
Justin Sun the founder of Tron finally had dinner with Warren Buffett on January 23 after postponing it several times. During the dinner, Juntin presented a Samsung Galaxy Fold mobile phone with 1,930,830 Tron tokens in it to his idol Warren Buffett. The numbers represent Warren Buffett’s date of birth August 30, 1930. This has officially made Warren Buffett a holder of Tron tokens.
The Ethereum development team is expected to launch Ethereum 2.0 in July 2020. Ethereum developers are now working towards Ethereum’s fifth anniversary on July 30, 2020.
Market Situation:
The total cryptocurrency market capitalization is U.S. $ 275 billion U.S. dollars (+0.87%) and the 24h trading volume is U.S. $ 137 billion U.S. dollars (+3.62%).After BTC broke through the 9550 resistance, it started to accelerate and rose 3%. BTC is currently trading above 9800 and it might test the 10,000 mark very soon.
Leading cryptocurrencies have followed the rise of Bitcoin. ETH performed really well, moving up by US$20. ETC dipped 10% after landing on the US$13 mark. ETC is 40 days away from its halving. It is not recommended to continue chasing it for a breakout. Today’s focus will be on ETH and BCH.
BTC broke through the 9550 resistance, it continues to head upwards. BTC has gained 54% since its low in December at 6400. The three deviation Bollinger bands are heading upwards with the price almost touching the upper band and there might be a slight correction. After the correction, it may begin to test the 10,000 mark.
Strategy: Long 9700, Stop Loss 9550, Target 10000.
(The above is an opinion, not financial advice)
BHEX BIG DATA: The Number Of Long And Short Are Relatively Balance, The Number Of Active Buying Is Slightly Higher Than The Number Of Active Selling
As of 7 February, 10.30 am (UTC+8), BHEX Big Data shows the ratio of Long & Short position is at 1.85.
Perpetual Contract Funding Rate is -0.0038%;
The total number of BTC Contracts is 143,851,936;
The total number of BTC USDT Contracts transacted is 67,098,007;
62,657,997 BTC Perpetual Contract active Buy orders, and 61,165,682 of Sell orders.
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Published at Fri, 07 Feb 2020 06:15:51 +0000
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