bitscanner.blogspot.com / by Rob Wilson / Friday, 2 August 2013
With the Bitcoin market still trading around the $104 support zone we identified back on Thursday, there is little more to say that we haven’t already; if you didn’t read Thursday’s post yet, go do so and you’ll know what to do!… and then come right back because we have something to say here that will be of interest.
Regular readers of our analysis you will know that much of it is centered on what we perceive, at the time we post, to be the underlying market sentiment; it is either bullish (buying mode), bearish (selling off) or neutral (range bound). And by now you will also know that a trader – any trader – never wants to find himself on the wrong side of the prevailing market sentiment.
And this is all very well but until recently, aspiring active traders of bitcoin have not had a vehicle through which to express their changing view of prevailing sentiment – or profit from it – with any fidelity. You either buy bitcoin, decide not to or sell what you hold back to fiat. Your leverage is strictly 1:1 which while workable from an investment perspective, represents a poor return when just a modicum of market analysis can put you on the right side of sentiment so often. It also offers little hope to those aspiring to increase their bitcoin wealth if they don’t have much in the way of fiat collateral to start with.
Well, we are thrilled to report that with the arrival of BTC.sx, this has changed. Developed by a talented algorithmic arbitrage trader and bitcoin evangelist, BTC.sx is an online trading platform that allows a trader to express his or her prevailing view of bitcoin market sentiment and profit from being right to the tune of around 10:1…
Yes, you heard that right, around 10:1.