Why Bitcoin Prices Soared by 24% in 5 Days – and How to Maximize Your Profits

Bitcoin (BTC), the world’s most prominent digital currency, reached $45K on February 8, 2022 and rose to its loftiest value since January 5. The digital asset increased by 24% from Feb. 3 to Feb. 8, and is up more than 30% from its recent low of around $33,000 it hit late last month.

What Contributed to the Skyrocketing Bitcoin Price?

Organizations are Embracing Bitcoin

One factor behind these latest price movements is that organizations are embracing Bitcoin. On February 7, KPMG Canada, the Toronto-based branch of professional services firm KPMG, announced that it had purchased Bitcoin for its treasury, as well as its digital sibling Ether, CoinDesk reported. Further, automaker Tesla Inc. revealed in a recently filed 10-K that it held almost $2 billion in bitcoin at the end of last year.

CashApp integrated Lightning Network Payments

CashApp integrated Lightning Network payments for most of its customers in the United States on February 8th. The Lightning Network being available on the Cash App mayprove to be monumental for the Bitcoin network. "It’s the fastest, free way to pay anyone in bitcoin,” tweeted the company.

What Can We Expect for BTC?

Dormancy flow indicates that Bitcoin has reached the fourth oversold point since July 2021. Its value increases when long-term holders move or possibly sell their coins indicating a possible price drop. Now it reached its lowest point of correction, which means their is a high likelihood of a rapid Bitcoin price increase in the following weeks and months.

As the above analysis shows, we can expect more upward price movement in the forthcoming days. Based on the positive price prediction on BTC, some investors might switch their investments and put money in BTC. If traders want to maximize their profit, 100 times leverage trading could be considered.

How to Utilize 100x Leverage to Maximize the Profit in Trading?

With 100 times leverage, traders can use 1 BTC to open a position of 100 BTC by going long (predicting the BTC price will be up) or going short (predicting the BTC price will be down). Assume we use 1 BTC to open a long contract when Bitcoin is trading at $38,000. With 100x leverage, we can open a position worth 100 BTC using funds borrowed from the trading platform. When the price of Bitcoin increases to $43,000. The profit will be ($43,000 – $38,000) * 100 BTC/$43,000 = 11.6 BTC, making the ROI of more than 1000%!

Recommended Exchanges with 100x Leverage

Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on various trading pairs: BTC, ETH, ADA, DOGE, XRP, etc. Bexplus doesn’t require KYC and is popular among over one million traders worldwide. Users can enjoy 24*7 customer support here. In addition, it is safe as it is accredited as an MSB (Money Services Business).

What Else can Traders Get from Bexplus?

100% Bonus to Double Profit

Users can get a 100% deposit bonus for every deposit on Bexplus. If you deposit 1 BTC, 2 BTC will be credited to your account. Bonuses are not withdrawable while the profits gained with the bonus are withdrawable.

Interest Wallet with 21% Annualized Rate

When you are not trading, you can put BTC in the Bexplus wallet and enjoy an annualized rate of up to 21%. Interest is calculated on a daily basis, and there is no lock-in date. You can withdraw cash at any time.

Demo Account with 10 Free BTC

When you successfully sign up, you can get the 10 free BTC in the trading simulator which enables you to practice trading futures contracts without losing money.

Mobile Support

Download a fully functional and intuitive APP on the Apple Store or Google Play, and trade anytime, anywhere.

Now the Bitcoin market is full of opportunities. Don’t hesitate to join and claim your profit! Sign up now to get 100% Bonus!

Editorial Note: This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.