BW margin trading officially opens the two-way borrow function, magnifying your operating space
Bitcoin rushed up to around 7630 yesterday, and then retreated to around 7450 to form a support. The subsequent shocks went upward until the midnight the long position was very strong, pulling the market down near the 7680 line, and then began to fall. After dropping to the 7270 line, it rebounded. The price before the publication was at 7299.
Looking at the hourly chart of the Bollinger Bands in the morning today, the state of the Bollinger Bands has gradually been under pressure. The MACDindicator continues to rise downward in the middle and lower parts of the Bollinger Bands, and the RSI indicator is still pointing downward.
The ups and downs of the currency price dragged the trend to the lower and middle areas of the Bollinger Bands, with each moving average below forming a layer of support network. The current price is near the 7310 position, and the situation is hindered from falling upward, and it is in a mid-down posture. The upper area has been blocked. On the whole, the overall trend is still likely to continue to rise downward, while the moving average indicators are running downward, and are currently in a bullish posture.
In the four-hour chart, MACD is about to form a dead fork above the 0 axis, and the K line is running near the Bollinger middle rail. From these indicators, the downward space below is not too small, and personal recommendations in the market outlook are mainly high altitude. In the short-term, the top focus is on the suppression position of 7300–7400, the defensive suppression of 7500–7600, the lower focus on the small support near 7200, and the defensive support is near 7000 and 6800.
According to the official news from BW.io, BW digital currency financial derivatives margin trading has launched a two-way borrowing function, today I will introduce this feature to everyone。
What is two-way loan?
Users holding base token can borrow both quote token and base token. Take BTC/USDT for example, users can borrow USDT with BTC or BTC with USDT, saying goodbye to the one-way loan mode like with BTC borrowing BTC, or with USDT borrowing USDT.
1. The amount of base token that can be borrowed = (the amount of base token + the amount of quote token * market price) * (Max. 20–1)-the amount of borrowed base token-the amount of borrowed quote token * market price
2. The amount of quote token that can be borrowed = (the amount of quote token + the amount of base token / market price) * (Max. 20–1)- the amount of borrowed quote token — the amount of borrowed base token / market price
Take BTC / USDT for example
1. Tom wants to borrow BTC, but only has 10,000 USDT, 0 BTC. The current BTC price is 10,000 USDT. The USDT Tom has is converted into 1 BTC. At this time, according to the formula 2 above, Tom can borrow up to (0 + 1) X (20–1) -0–0 = 19 BTC.
2. Jerry wants to borrow USDT, but only has 1 BTC, 0 USDT. The current BTC price is 10,000 USDT. The BTC Jerry has is converted into 10,000 USDT. According to formula 1 above, Jerry can borrow up to (0 + 1x10,000) X (20–1) -0–0 = 190,000 USDT
1. Every day, the first 20 users who participate in margin trading and two-way borrow can receive 10 USDT trial bonus with screenshots after adding customer service telegram (https://t.me/IvonLiu)
2. The trial bonus cannot be withdrawn, but the profit part can be withdrawn in full.
3. Event time: 9AM on December 24, 2019 (UTC+8) — 9AM on December 27, 2019 (UTC+8)
Finally, the cryptocurrency derivatives market will double in size by 2020. With increasing interest from professional investors, halving Bitcoin, and increasing regulatory transparency, the market size will jump from the current $ 5–10 billion per day to $ 10–20 billion. As has been proven many times in traditional markets, as markets become more complex and the need to find protections against price fluctuations, derivatives play an extremely important role, and they will be even more popular in 2020 than in 2019.