📉 BTC | $29,807 (-1,118, -3.3%)
📉 ETH | $1,791 (-41, -2.2%)
📉 XRP | $0.53 (-0.04, -6.3%)
📉 LTC | $107 (-8, -6.6%)
Stablecoin Tether has not “printed” new USDT in over 3 weeks, which has served as a major cause of Bitcoin price rallies in the past. USDT was said to be experiencing less demand thanks to the evisceration of cryptocurrencies in China, where USDT was the dominant method for Chinese traders to access crypto markets.
Texas is emerging as a relatively Bitcoin-friendly location, with some calling it the new “Bitcoin Mining Capital”. Governor Greg Abbott is a known supporter of cryptocurrencies, and is planning to release a master plan for a new “blockchain industry” in the state.
The Grayscale Bitcoin Trust continues to trade at a heavy discount of over -11% to spot prices, which has tended to draw capital away from the spot BTC market in the past.
Cryptocurrency CFD is available for trading on Phillip MetaTrader 5 (MT5).
Features of trading CFD:
- Trade in both the bull and the bear markets
The ability to enter a long and/or short position allow traders to take advantage of both rising and falling markets.
- Smaller barrier to entry
CFDs typically have flexible and smaller contract sizes. This means that traders will be able to enter into a CFD contract with a modest amount of capital.
- No expiration date or risk of delivery
Unlike futures which commonly have a fixed expiration date, CFDs allow traders to perpetually hold the position(s). CFDs are cash settled, no need to worry about the delivery of the underlying asset.
Benefits of using Phillip MT5:
Trade at zero commission on a dynamic platform that offers low spreads. Integrated with Autochartist and Trading Central Indicators, and available on mobile, web and desktop app, you will never miss a trading opportunity with Phillip MT5.