You are here: Home > articles > Forex > Bitcoin is currently priced at 8000 USD. This is how are some people buying it for 800 USD
Bitcoin is currently priced at 8000 USD. This is how are some people buying it for 800 USD
November 20, 2017 3:43 pmVideo
Latest News
- EUR/USD and GBP/USD: Technical analysis on April 23 April 23, 2024
- Forecast for EUR/USD on April 23, 2024 April 23, 2024
- Forecast for GBP/USD on April 23, 2024 April 23, 2024
- Forecast for USD/JPY on April 23, 2024 April 23, 2024
- Outlook for GBP/USD on April 23. The pound resumed its decline without delay April 23, 2024
- Outlook for EUR/USD on April 23. Boring Monday went off without a hitch April 23, 2024
- Less reason to expect the dollar to weaken April 23, 2024
- The dollar is armed April 23, 2024
- GBP/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
- EUR/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
- GBP/USD: trading plan for the US session on April 22nd (analysis of morning deals). The pound continues to fall April 22, 2024
- EUR/USD: trading plan for the US session on April 22nd (analysis of morning deals). The euro will continue trading within April 22, 2024
- EUR/USD. April 22nd. Christine Lagarde’s speech will set the tone for the week April 22, 2024
- Technical Analysis – EURGBP brings bullish scenario back to the table April 22, 2024
- GBP/USD. April 22nd. The bulls continue to retreat April 22, 2024
- Can Australian CPI data lift the struggling aussie? – Preview April 22, 2024
- Meta reports Q1 earnings after new AI model – Stock markets April 22, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and US dollar index on April 22, 2024
- Technical Analysis – GBPUSD tumbles to 5-month low April 22, 2024
- Weekly forecast based on simplified wave analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 22nd April 22, 2024
Owning or trading bitcoin might seem like a dream for most people, especially since the cryptocurrency reached an unprecedented high – breaking through the $8000 level today on November 20th. And each time it inches up a little more – another person out there mutters “If only I had…”.
What if I told you there are tons of ways to trade bitcoin. What if I told you that there is a way to increase the size of your trade, without the need to increase your initial investment? Allow me to introduce you to CFD bitcoin trading, which you might not be familiar with, but it comes with a lot of robust features. Trading CFD bitcoin allows anyone to buy or sell with a predetermined price to exit the trade, which can help them manage their profit and risk (known as stop-loss and take-profit). It also allows traders to use leverage. For most people this is one of the biggest appeals of trading CFDs.
What is leverage you ask? Leverage is exactly what the name indicates – it leverages (A.K.A. increases) your trade, like a lever increases your strength – this means someone can enter a trade that is worth a little more than their initial investment. To keep the example simple; if a person has 1:10 leverage – which is what easyMarkets offers on bitcoin with an initial investment of $800 (these are the indicative prices at the time of writing this article) someone could purchase one bitcoin worth ten times their initial investment: $8000 (the indicative price at the time of writing this article). Of course, caution is necessary when trading, markets move in both directions.
In a completely hypothetical scenario, with a 1:10 leverage you could have purchased one bitcoin worth $2730 back in August for $273. Today, in ideal circumstances, your $273 dollars would be worth $8000 – a profit of $5270. If we go back even further, not that far though – 2010 10,000 bitcoin was valued at around $30 dollars (this is practically common knowledge due to the infamous Bitcoin Pizza Day), today that same amount would be worth around a staggering $80,000,000.
The post Bitcoin is currently priced at 8000 USD. This is how are some people buying it for 800 USD appeared first on Forex.Info.
Related Posts: