After a challenging last year which saw the crypto markets tumble from a height of euphoria to oblivion with numerous skeptics writing obituaries about bitcoin and cryptocurrencies in general, we are seeing fresh signs of crypto-markets coming back to life. Here are some to the key indicators which shows that the traders are coming back to market:
Bitcoin Price rises almost 25% in month of Feb alone: The price of Bitcoin on Binance has gone from $3350 on 29th January 2019 to $4198 on 24 Feb 2019, rising almost 25% in less than one month.
BTC/USDT Price Chart. Source: Binance.com
Bitcoin Trading Volume is growing steadily: The number of bitcoins being traded has be steadily growing since last few months. The volume growth is not just on the crypto exchanges but also on peer-to-peer (P2P) platforms like local bitcoins. Also, the number of transactions being recorded on the Bitcoin blockchain are on a rise as well.
Trading Activity on Binance reaches all time high: Binance is one of the top exchanges for trading crypto currencies with very robust trading infrastructure. It experienced a system overload on Sunday when the trading activity hit an all time high. This is an indication of the fact that traders are coming back to market.
These 3 signs provide a comprehensive evidence of the fact that the traders are coming back to the market.
Opportunity for FX Brokers: Most of the exchanges where cryptocurrencies are traded are unregulated thus exposing traders to a lot of risk. Regulated FX brokers can bridge this gap by providing a trusted and regulated avenue to trade crypto currencies. FX brokers can further enhance the convenience for traders by offering trading in fiat currencies since most crypto exchanges only support crypto to crypto trading.
If you are a FX broker looking to capture the fast-growing market for cryptocurrency trading, we at Broctagon Nexus can help you do that with our comprehensive suite of award-winning liquidity and technology solutions. Here is what our partners have to say about our solutions.
To know more get in touch today on nirav.gala@broctagon.com