Using #BitMEX in bearish crypto markets
BitMEX is a great opportunity to turn bearish crypto markets into a profitable one. Those of you who are working in crypto should know about this BitMEX leverage trading opportunity but most of the alts market traders are still not in BitMEX
let me tell you guys when you know that btc is going to fall down then why not sell or short btc first and then let it fall as much as it wants, you just take a profit / close the position whenever you happy with profits..! Simple as that
and we know when btc goes into bear mode alts too dump heavy and its impossible to trade on alts when they go bearish
the global crypto market had reached 828 billion dollars on january 8th and then fell down to 243 billion dollars on april 1st (almost 70% dump)
and those who shorted their btc at peak price around 20k dollars they made their life outstanding
you can trade 1 bitcoin if you have only 0.1 bitcoin in your BitMEX initial capital (example of leverage 10x)
suppose you make a trade
you sell/ short at 7800 usd with 10x leverage and you traded with 1 bitcoin which is equal to 10 bitcoins as you have taken 10x leverage and now price comes down to 7500 usd and you close the position
now your profits would be 300 dollars but with 10x boost that would become 3000 dollars
this same thing goes with buy/ long position too but vice versa
those who have not been trading on BitMEX you guys are missing out this opportunity
#BitMEX ✌️