To bring you the best content on bitcoin peak price sites and applications, Meredith partners with third party advertisers to serve digital ads, including personalized digital ads. Those advertisers use tracking technologies to collect information about your activity on our sites and applications and across the Internet and your other apps and devices. Bitcoin cash is surging Thursday morning.
1,216 a coin, according to Markets Insider data. Bitcoin cash’s gains are steep, but the digital currency still has plenty of room to go in order to get back to its 2017 levels. All major cryptocurrencies have had a rough start to the year. That anxiety has mostly cooled thanks to an announcement from the country’s secretary of economic affairs saying the country will set up a panel to examine trading of crypto assets that will report its findings next month. The tight correlation between most cryptocurrencies is a big worry for Goldman Sachs’ head of investment research. The price of bitcoin cash has risen and fallen as dramatically as bitcoin in recent months.
Because of the leveraged exposure, our return on deposit was magnified. As the price of Bitcoin kept falling, the profit on our short trade grew. Plus500 allows us to trade on our unsettled balances. This means that as our trade became more profitable, we had more and more funds available to trade again.
We decided to open another short trade on Bitcoin. As the price kept falling we kept opening new contracts. 150 of our own funds on deposit. Today we continued to short Bitcoin as shown from the below screenshot from the plus500 web app. As you can see, we have also opened a long trade on the Euro.
You are able to trade a large range of forex, stocks, commodities and cryptocurrencies. Plus500 does not give any advice, they are purely a trading platform. If you are interested in learning to trade Bitcoin or one of many other instruments including foreign exchange, stocks and commodities, then it’s worth having a look at the plus500 free demo account. You do not own or have any rights to the underlying assets. Plus500 is a publicly listed company traded on the AIM section of the London Stock Exchange, and the Stuttgart Stock Exchange. This means that they are legally required to provide fully audited financials. Unfortunately we did not close our trades at the peak.
The price of Bitcoin cash turned and the upward market turned volatile. Our trades automatically closed because we had placed trailing stop orders on them. A trailing stop order allows you to automatically close your trades if the market moves against you by a certain amount. Plus500 suggests the size of your trailing stops, but you can adjust them yourself. Plus500 also allows you to place stop loss orders.
These will automatically close your trade if the market moves backward to a certain price. They will suggest a price, but you can adjust it yourself. You can use a combination of stop losses and trailing stop orders to manage your losses. In the trade shown above, we have decided to sell Bitcoin and go short on a CFD. 29 of our own funds for this trade. As we can’t predict the future, we don’t know if the price will keep falling or if it will turn around.
We will make a profit of 30. At this time the original stop loss will close our trade before the trailing stop. If luck is on our side, and the price continues to fall, then the trailing stop will follow it down. 75 stop is set by the lowest price Bitcoin reaches while the trade is active.