Since the end of May 2021 the price of Bitcoin has been difficult to reach US $ 40 thousand, even though there is a Bitcoin Miami 2021 event where the El Salvador effect is echoing. However, several signals thanks to the following indicators allow the price of Bitcoin to return to US $ 40 thousand.
Some good news from Miami and The Savior failed to help Bitcoin bounce back from $37,000. Over the past week, the selling pressure has remained strong and Bitcoin has fallen below $35,000.
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Many investors worry if Bitcoin fails to earn back US $ 40,000 in the coming weeks, the market could really turn into bearish.
However, hope need not be lost. Analyst William Clemente argues SOPR, which is the ratio of profit-taking in asset trading on a given day, appears to have found a local low on the weekly moving average.
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Analysts also point out that selling pressure from short-term holders outweighs buying pressure from long-term holders. But in the past 7 days, the situation has changed.
With short-term investors selling their Bitcoins at a gradual slowdown, long-term holders can pump up the market and send the cryptocurrency back up to $40,000.
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Analysts offer other data showing investors are accumulating more Bitcoin and investors should wait patiently for an upward breakout.
Another Strategy: Earn Passive Income
Extra patience and continuously monitoring technical data is one of the keys. Another thing is to earn passive income from crypto as well.
Passive income is a way to keep Bitcoin productive and generate profit through interest. One well-known company, namely Bexplus have that feature in its service.
“Using the Bexplus wallet, you can sit back and earn flower annual up to 21 percent from your Bitcoin deposit,” said the Bexplus Team in an emailed statement recently.
Bexplus is a cryptocurrency futures exchange which offers leverage up to 100x for a number of trade pairs BTC, ETH, LTC, EOS, XRP and others.
Those crypto and interest saving services are their added features in the application.
Bexplus can guarantee that the storage mechanism is very safe, because it uses technology menggunakan multi-signature.
That is, the transfer from cold wallet and hot wallet is processed manually and requires many digital signatures (signature) in agreement.
“For Bitcoin interest services, no KYC steps are required at all. So that the process is faster and user identity is more secure,” said Bexplus, adding that every user can benefit from their affiliate program. [red]
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