BHEX Daily Crypto Watch, Perpetual Contract Strategy & Big Data(Feb 12, 2020)

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What is Perpetual Contract?
Perpetual contract is a derivative product that is settled in digital tokens such as Bitcoins (BTC). Traders enter either into a long (profit from upward trend) or short (profit from downward trend) position. Available leverage ranges from 1–100x.

Find out more about BHEX Perpetual Contract

BHEX Daily Crypto Watch

As of February 101 the number of BTC active addresses was 783,200, an increase of 26.83%. The number of on-chain transactions was 365,400, an increase of 22.66%. There were 747 large on-chain transactions each holding over 100 BTC’s, a decrease of 3.23%.

Roger Ver, CEO of tweeted that the big-block Bitcoin was the consensus position of nearly everyone who participated in the early days.

Bitcoin mining difficulty has been raised to 15.55T on February 11th, setting a new record high.

Federal Reserve Chairman Jerome Powell said cryptocurrencies could pose systemic risks to the U.S. dollar. He also added that he supports private cryptocurrency transactions but the Fed has not yet made a decision on the use of US digital currencies.

Christine Lagarde, President of the European Central Bank said she wants to assess whether the central bank’s digital currency can provide a clear use for the public and support the European Central Bank’s goals.

Market Situation:
The total cryptocurrency market capitalization is U.S. $ 293 billion U.S. dollars (+3.65%) and the 24h trading volume is U.S. $ 136 billion U.S. dollars (-6.12%). At 11pm yesterday, Bitcoin soared rapidly surpassing the $ 10,000 mark again. It is currently trading around $ 10,300.

EOS and ETH led the rise of leading cryptocurrencies. The performance of pre-halving currencies BCH, BSV, and DASH was performance relatively stable. Traders may start laying your positions. ETC hard fork has been postponed creating uncertainty. ETC traders pay attention to possible risks.

Bitcoin continues with its growth. The Kline moves towards the upper and mid Bollinger bands. The moving average maintained an upward pattern. In the 4H chart, MACD formed a golden cross above the zero axis.

Strategy: Long 10,200, Stop Loss 10,050, Target 10,500.

LTC has been trading within a tight zone and may enter into a breakout. The MACD forms a golden cross above the zero axis, which is a bullish sign. There is resistance near 80. Once LTC breaks through the resistance, it may push the price further up. It is recommended to go long after a slight correction occurs.

Strategy: Long 77.5, Stop Loss 75, Target 84.

(The above is an opinion, not financial advice)

BHEX BIG DATA: Long Dominates, Bullish Sentiment Increased
As of 12 February, 10.30 am (UTC+8), BHEX Big Data shows the ratio of Long & Short position is at 2.1.
Perpetual Contract Funding Rate is 0.0407%;
The total number of BTC Contracts is 83,793,402;
The total number of BTC USDT Contracts transacted is 49,378,299;
20,479,443 BTC Perpetual Contract active Buy orders, and 22,601,288 of Sell orders.

BHEX Perpetual Contract Big Data (Feb 12, 2020)

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