Bitcoin has had a rollercoaster 12 months to date. One year ago, cryptocurrency fever was sweeping the land. This is in stark contrast to the market sentiment of today which has seen bitcoins value fall further. Now below $3,500, analysts are uncertain over the future in Bitcoin trading. It is important though to examine the bigger picture, taking into account not just the current position, but the future possibilities and other Bitcoin trading options such as trading CFDs on forex platforms like TradeFW.com.
The Current Bitcoin Market
The bitcoin market at the present moment is in a noticeable downward trend. This has been heavily influenced by the mass market sentiment which has displayed consistently negative signs. That said, many professionals within the industry, and certainly a trusted bitcoin broker such as TradeFW, have firm faith in the markets capability to rebound from its current position.
Presently, the market is experiencing a low below $3,500, something which bitcoin trading sites have not seen in 12-months. That said, for those who have recently joined the industry and learned how to trade bitcoin, there are other opportunities. These opportunities currently reside with bitcoin options trading, or CFDs.
Bitcoins Short and Long-Term Future
Bitcoins short-term future may well see a further slump prior to any bounce back, however if you are desiring to open a bitcoin account, this should not hold you back. There are many leading forex brokers who are now offering varied bitcoin trading strategies such as the CFD trading from TradeFW where BTC is paired with the USD. If you are wondering where to trade bitcoin in the current market, this may well be the best choice, since, with CFD trading, you can easily capitalize even in times of a slump in the market.
As for the long-term future of Bitcoin, this would still appear to be bright. We should remember that in the bigger market picture, the current price level is still comparatively very strong, and the cryptocurrency remains in its number one position. The long-term currency future is further bolstered by the emergence of new trading opportunities such as CFDs and Options trading on Bitcoin.
At the present moment, it may be a very advisable strategy to partner with a strong bitcoin trading platform which offers some of these more diversified financial trading instruments, and attempt to utilize any market conditions to your benefit. The best bitcoin trading platforms will certainly have extensive learning resources available. Continuing to utilize these resources to further learn about bitcoin is a surefire way to help improve your trading skill no matter the market conditions.
Pros and Cons of Investing in Bitcoin
Stepping back from the current market situation, there are still a number of positives to be drawn from when it comes to potential future investment in Bitcoin and the cryptocurrency market in general.
- The potential growth levels in Bitcoin have already been demonstrated by the huge gains shown within the past year up to almost $20,000.
- The nature of Blockchain technology means investing in Bitcoin can be both anonymous and highly secure.
- As society continues its technological advancement, there is little doubt that Bitcoin can show its true potential further as it becomes more integrated as a payment method in everyday life.
- With new investment options such as CFDs and options trading in BTC markets becoming available, there is potential for traders in both an upward and downward trending market.
- Bitcoin investment remains innately risky, particularly in the current market where a negative sentiment is quite clear.
- It still remains to be seen if the currency will be adopted or has the technical capabilities to function as an everyday payment method in society.
- Security of your bitcoin holdings and intrinsic value of cryptocurrency are always contentious points.
Overall, it is quite clear that whilst the bitcoin market is in times of some difficulty, opportunities still exist for both new and existing investors in the cryptocurrency. Bitcoin now has more trading options than ever with the ability to trade CFDs through many leading and trusted forex platforms. Regardless of the current market price, there is still clear potential in trading and the future of Bitcoin.
TradeFW provides top quality forex broker services and trading in cryptocurrency CFDs including Bitcoin. For the best opportunity to capitalize on the current Bitcoin market along with all major forex and other markets, open an account today.
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