BitOffer Institute
Recently, market released a cryptocurrency volatility report,
which pointed out that September was basically Bitcoin's worst month in history, that leading a negative return for investors. Historically, September was indeed the worst month for the Bitcoin market, with an average return around -7%. At this situation, only the Dual-Currency remain a satisfying perform.
Although the market report remains bearish on Bitcoin in the short term, the report also gives investors lit some glimmers of hope. From the point of data analysis, in the past twelve months of currency supply share not happen too big change, and according to the market analysis of first two halving from the historical data, this trend heralds a new bull market is coming.
Judging by past data, the cryptographic market is likely to face heavy volatility in the coming months, which will be generating huge gains for investors. However, September was the lowest month in history for equalization volatility,
which means Bitcoin won't see significant volatility until at least the fourth quarter of 2020.
However, the analysis is not an accurate predictor of the future, and
it has had its moments of misprediction. The market report had predicted a 50%-200% rebound in Bitcoin prices on August 10, with the price trading between $11,500 and $12,000, but it plunged to the $11,000 range that day, with a drop of nearly 20%.
The correlation between Bitcoin and Gold hit a record high of 0.97 in August, but then sharply fallen to 0.25.
According to the news of Bloomberg on September 9, the correlation between Bitcoin and Gold reached 0.8 at the highest level since 2010. If gold stays above $1,900, and Bitcoin is expected to stay above $10,000, then the investors can predict the price of Bitcoin based on the price of Gold.
The settlement comparison between the Gold(over-the-counter market) and Bitcoin proves that people have begun to regard Bitcoin as a store of value. Firstly, Bitcoin is a digital product with the highest return on investment in the past 10 years. Secondly, it has significant advantages over Gold, such as substitutability, liquidity, anonymity, non-tampering and more convenient to trade.
Throughout the first week of September, the Bitcoin had lower returns than other months, with investors generally earning negative returns in both futures and options. However, data from BitOffer Exchange showed that in September,
the trading volume of Bitcoin's derivative Dual-Currency got surged, and the quota linked to different prices every day was snapped up and sold out. It became the most popular Bitcoin product among investors and the only one among the Bitcoin products that brought positive income to users.
Lucian, the chief analyst at BitOffer, believes
the reason that Dual-Currency stood out from the broader market in September is related to the way it is settled. It uses USDT and BTC's dual-currency settlement method. Purchase today then the expiration follows on tomorrow, users can get about 1% of the income whether the Bitcoin goes up or down. When the Bitcoin goes up the investor will get USDT for return, when the Bitcoin goes down then the investor will get BTC for return. Especially in the sideways, there is a very low-profit rate at futures and contracts, the Dual-Currency shows its advantage. After all, 1% a day is so tempting to many investors, however, its daily quota is limited which need to snap it up.
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Topic: Bitcoin Average -7% Return, Dual-Currency the only profitable product this Month (Read 2463 times)