New Bitcoin Trading At BDSwiss
I’ve often wondered why BDSwiss was not a higher profile broker. Over the years I’ve run across them quite a few times, have always liked what I found but nonetheless the broker flew under the radar. In hindsight I can see the reason is because they’ve always been a respectful broker; respectful of their clients, respectful of the public and respectful of the regulators. This means they aren’t featured prominently as a broker favored by scam artists, they don’t use pushy call centers and they offer a high quality and trustworthy binary options trading experience.
The broker uses the Spot2 platform for binary options, has a built in web trader for forex and CFD’s and is compatible with MT4. Always a part of the binary options platform, BDSwiss now offers Bitcoin pairs for forex and CFD trading. The binary options platform supports standard Bitcoin/USD pairing with intraday expiry only. The new CFD and forex pairs will include BIT/USD and BIT/EUR with open-ended spot positions and leverage to allow traders to take full advantage of this volatile market.
Outlook For Bitcoin Is Bullish
The outlook for Bitcoin is bullish. Inflows to the cryptocurrency have caused its value to skyrocket more than 250% since the beginning of the year. Now in a consolidation pattern Bitcoin is gaining acceptance around the world and attracting new money each day. Once consolidation and profit taking are through the potential for gains virtually unlimited. On a technical basis a break of the near term consolidation range could lead to $1,500 or 60% of upside with a near to short term time horizon.
The caveat is that Bitcoing and crypto currencies are still in their infancy. Even Bitcoin, the first and most famous, is not widely accepted by merchants and therefore not a viable form of payment. At the same time world governments have a lot at stake and may choose to curb the spread of crypto-currencies before the value of their own monies are undermined.
Euro outlook is hawkish. By all accounts the ECB is shifting gears to one of tightening rather than easy policy although easy money policy is expected to continue for some time to come. Regardless the level of policy looseness the fact the bank has shifted from loosening to tightening is Euro strong and likely to provide support against the dollar and other world currencies. Dollar outlook is also hawkish although the degree has slackened over the past few weeks. While the dollar is supported by FOMC rate hike expectations that support has been slipping in the face of hawkishness from a number of other central banks.
While the future of Bitcoin is a little cloudy the near term is clear. Bitcoin is wildly popular, it attracts a lot of attention and a lot of traders. This combination makes it a perfect asset for day trading and that makes it perfect for binary options, forex and CFD traders.
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