BHEX Daily Crypto Watch, Perpetual Contract Strategy & BigData (Mar 10, 2020)
By: Hbtc Exchange
Tags: Bitcoin, Ethereum, Perpetual Contract, Bhex, Articles

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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

According to official news, Bitcoin Core 0.19.1 version has been launched.

Vitalik Buterin, founder of Ethereum said in a podcast that Proof of Stake (PoS) is more efficient compared to Proof of Work (PoW). PoW will eventually be phased out.

According to the news from TheBlock.com, the correlation between Bitcoin and gold has declined and data indicates that institutional investors are avoiding Bitcoin.

As of March 9, the number of BTC active addresses was 690,800, an increase of 32.99%. The number of ETH active addresses was 355,100, an increase of 16.43%.

The covid19 situation has worsened. Oil prices plunged with the market in full panic. The European and American stock markets plummeted on Monday. The US stock meltdown shows S&P 500 index falling over 7.6%, the biggest decline since December 2008.

Market Situation:

The total cryptocurrency market capitalization is U.S. $ 225 billion U.S. dollars (-3.45%) and the 24h trading volume is U.S. $ 173 billion U.S. dollars (+17.80%). Bitcoin plummeted to 7638 yesterday and rebounded slightly closing at -1.4%. Bitcoin is currently trading around 8000.

Leading cryptocurrencies rebounded with ETH rising 1.7% yesterday. BCH closed at 273, BSV rose 1.1%, XRP rose 2.7%, ETC rose 7.6%, LTC fell 1.1%.

BHEX Perpetual Contract Strategy (Mar 10, 2020)

BHEX BTC Perpetual Contract Strategy (Mar 10, 2020)

Bitcoin may begin a reversal trend. The 4H MACD falling below 6500, the same value as in last year November. There are signs of an oversold. The moving averages are still in shorts formation. The market may have an oversold rebound.

Strategy: Long 7750, Stop Loss 7650, Target 8000.

BHEX ETH Perpetual Contract Strategy (Mar 10, 2020)

Ethereum rebounded slightly. The K-line falling to the lower bollinger band. There was an oversold phenomenon. The 4H MACD histogram bar decayed. An oversold rebound may occur soon.

Strategy: Long 196, Stop Loss 190, Target 207.

(The above is an opinion, not financial advice)

BHEX Perpetual Contract Big Data (Mar 10, 2020)

BHEX BIG DATA: Contract Transactions Skyrocket, Active Buys Dominate

As of 10 March, 9.30 am (UTC+8), BHEX Big Data shows the ratio of Long & Short position is at 1.62.

Perpetual Contract Funding Rate is -0.0317%;

The total number of BTC Contracts is 91,745,347;

The total number of BTC USDT Contracts transacted is 57,644,747;

53,352,435 BTC Perpetual Contract active Buy orders, and 41,453,757 of Sell orders.

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