New perspectives in crypto amid the BTC bull market according to OctaFX
KUALA LUMPUR, MALAYSIA - Media
OutReach - 15 December 2021 - Much speculation has been uttered about the
expiration date of the current crypto bull market, driven by bitcoin.
International Forex broker OctaFX
summarises what has happened so far and highlights the fresh innovations to pay
Firstly, let's ascertain the state
of the market with some basic, recent statistics. The date 10 November 2021
stands out. That's when the first cryptocurrency in the world reached its
historic all-time high so far: 69,000 USD.
In the course of the
following month, the price steeply moved down to about 46,500 USD on 4
December—a correction of over 32 per cent. As of this writing, BTC hovers
slightly above 48,800 USD.
But according to measured social
media sentiment, everything still is on track for a further uptrend. Although,
this can be an indicator for the possibility of the opposite, at least
short-term. Therefore, before the general uptrend visibly resumes, another leg
down from here wouldn't shock the more experienced observers and participants
of the cryptosphere.
In addition, a combined expert
opinion paints a rather bullish midterm outlook on the next few months and
further into 2022. Some seasoned influencers speculate about a definitive
bitcoin all-time high peaking at around 100,000-150,000 USD before the current
cycle would cease and pave the way for the bears.
In October, Mark Zuckerberg
announced renaming his famous social media monolith Facebook Inc. into 'Meta
Inc.', thereby paving the way for the so-called 'Metaverse'. South Korea
appears to be by far the first country to launch the adoption of this new
blockchain-driven digital sphere on a massive scale. Any crypto projects
associated with the 'Metaverse', especially video gaming tokens, are worth
being researched for potential investment opportunities, as they might bring
The OctaFX team takes the opportunity
to contribute to this unique period of new investments and favourable trading
circumstances by reminding the community of its constantly evolving crypto
offers this year.
As of this writing, the fintech
company has five cryptocurrencies, all paired with the U.S. dollar as the quote
currency, listed in its trading pool.
(Bitcoin vs U.S. dollar)
(Ethereum vs U.S. dollar)
(Bitcoin Cash vs U.S. dollar)
(Litecoin vs U.S. dollar)
(Ripple vs U.S. dollar)
The broker maintains competitive
leverage with a ratio of 1:25.
Clients can make deposits in
bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), and the U.S.
dollar stablecoin called Tether (USDT). The latter can be deposited as an
ERC-20 and TRC-20 token—meaning, a client can use the Tron or the Ethereum
network for their deposits.
OctaFX plans to enable trading
cryptocurrencies on the weekends, which the company could implement as soon as
January, possibly February 2022. In the first quarter of 2022, new crypto
assets will join the trading pool.
OctaFX is a global broker that provides online trading services worldwide
since 2011. It offers a state-of-the-art trading experience to over 7.5 million
traders worldwide. In addition, the company is well-known for its promotions
and high service standards. OctaFX has won more than 45 awards since its
foundation, including the 'Best ECN Broker 2020' award from World Finance and
more recently the 2021 'Best
Forex Broker Asia' award and the 2020 'Most Transparent Broker' award
from Global Banking &
Finance Review and Forex Awards, respectively. The company is well-known
for its social and charity activity.