What Is Behind Bitcoin’s Recent Rally To $40,000?

The crypto market continues its upward trend after several days’ rallies. Bitcoin has gained over 20% and has tested the $40,000 crucial resistance a couple of times, indicating buyers are in profit-taking mode.

With the latest round of interest from traditional companies, crypto trading has come to a revival. The recent rally is believed to be sparked by the rumor that Amazon will accept Bitcoin payment soon. But the rumor was soon denied by Amazon, which caused Bitcoin to drop 5% to $36k.

“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.”

Although Amazon has denied the claims of accepting bitcoin payments and issuing cryptocurrencies recently, Amazon also said it will continue to explore cryptocurrencies.

In addition, JPMorgan Chase started to provide bitcoin services to retail customers. Previously, the bank only provided bitcoin services to institutional customers or high-net-worth customers. Meanwhile, MicroStrategy plans to amass more Bitcoin. MicroStrategy now owns more than 105,000 bitcoins and the company reported $125.4 million in revenue for the quarter, up 13.4% on a year-on-year basis. Another bullish news is from Paypal, which announced that it is planning to launch crypto services in the U.K., as soon as August.

100x Futures Trading – The Best Strategic For Bull Market

Futures trading is an instrument tailored-made for the undulant market. Traders can short or long bitcoin and use leverage to open contracts far greater than their initial investment.

For example, if we use 0.1 BTC to open a long contract at the price of $30,000 and close it when bitcoin is trading at $35,000, our profit will be ($35,000 – $30,000) * 10 BTC/$35,000 = 1.428 BTC. Without 100x leverage, our profit will only amount to 0.014 BTC.

OK, now this sounds like an amazing deal, but do you know there is one way to double your profit?

The answer is actually very simple: we double our initial capital. Bexplus Exchange offers every user a 100% deposit bonus to maximize profit. Deposit 1 BTC and 2 BTC will be credited to your account. More margin also means your positions will be less likely to get liquidated.

 Why choose Bexplus?

 Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on a variety of trading pairs – BTC, ETH, LTC, Dogecoin, XRP, etc. Demo account, 100% bonus and mobile apps are available on Bexplus. Bexplus doesn’t require KYC and is trusted by over 800k traders from 0ver 200 countries/regions. Bexplus is accredited by MSB (Money Services Business).

• 10 Free BTC for Simulated Trading

Bexplus users can get a demo account to simulate the real trading environment and strategy with 10 BTC. You can practice trading skills and learn about how to analyze the market trend with the trading simulator. Even if you make wrong predictions and analyses, you will not lose a penny.

• BTC Wallet: up to 21% Annualized Interest Without Any Risks

Bexplus users can gain profits not only from trading. Join the Bexplus wallet, you can earn up to 21% annualized interest without taking risks. With up to 21% annualized interest, it is no doubt one of the most profitable rates in the industry. While most lending platforms require traders to deposit at least 1 BTC, traders can make a deposit starting from 0.05 BTC on Bexplus.

• Trade Freely on Android & iOS

The top-ranking Bexplus app integrates all the necessary functions and tools (real-time charts, a variety of indicators, news alerts, etc.) while keeping a minimalist and intuitive interface. With the Bexplus app, you can manage your account anywhere and anytime you want. Furthermore, the 24/7 notification could keep you updated with big price movements, making it easier to secure your positions.

Download the Bexplus APP on the Apple Store and Google Play.

Another bull run is brewing. If you miss the time to invest in bitcoin when it was trading at double-digit, don’t miss the opportunities to make handsome profits now.

Join Bexplus and start to accumulate BTC!

Image by Lukas Prudil from Pixabay