📉 BTC | $31,710 (-21, -0.1%)
📉 ETH | $1,894 (-31, -1.6%)
📈 XRP | $0.58 (+0.0, +0.0%)
📉 LTC | $119 (-2, -1.5%)
News on Binance continued coming in over the weekend, with the company stopping their much vaunted stock token products (customers could buy crypto tokens of stocks) after Hong Kong regulators explicitly banned the token.
A US Federal Reserve study has shown that the $1,200 stimulus checks last year only contributed to around a +3.8% rise in trading volume and +0.7% increase in price for Bitcoin. This was much less than expected for many, with the figure coming in less than Bitcoin’s daily ‘standard deviation of 4.6%
XRP appears to be approaching its own Death Cross, a few weeks after Bitcoin made its own. XRP’s previous death crosses have hardly guaranteed bearish impetus however, with XRP rallying particularly amidst oversold conditions. Investors should monitor buying momentum indicators such as the RSI in the coming days.
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.