The Crucial Silver Lining to Bitcoin’s Recent $1,000 Drawdown

  • Bitcoin has faced a strong correction over the past few days after peaking at $11,200 last week.
  • At the recent lows, BTC traded for $10,200, meaning it had dropped over $1,000 from those highs.
  • The coin now trades at $10,500 as of this article’s writing, technically in no man’s land.
  • A trader thinks that the prevailing trend is still bullish because the cryptocurrency held a pivotal support level during the drop.
  • Other signs also show that BTC is primed to continue its ascent as opposed to moving lower.
  • There is the wild card of legacy markets throwing a wrench into Bitcoin’s trend, though.

The Silver Lining of the Recent Bitcoin Drop

Bitcoin has faced a strong drop over the past few weeks as legacy markets have also slowed their ascent. The coin is now down $1,000 from its local highs (set last week) and $2,000 below the year-to-date highs set in late August.

Despite the drop, an analyst thinks that Bitcoin remains in a structurally positive position from a medium-term timeframe. He shared the chart below on September 23rd, which shows that BTC has held the weekly support and 0.618 Fib level during the recent drop:

“$BTC #Bitcoin: Another bullish argument we can make here is the fact that we have held the weekly support at $10150 fairly well and is also confluent with the 0.618 Fib level where we bounced off strongly. Things don’t look too bad for now.”


Chart of BTC's price action over the past few months with a Fib level analysis by crypto trader Steve (@TheTradingTramp on Twitter).
Chart from

If this trader is to be believed, Bitcoin’s medium-term future is dependent on how it interacts with the low-$10,000s moving forward.

Stock Market Wild Card Could Throw Crypto Out of Wack

While the trader noted that Bitcoin’s technicals in and of themselves are not “too bad,” he added that a drop in legacy markets could send cryptocurrencies reeling:

“Obviously, if the whole world decides to take a dump again, we gonna dump too.”

Another commentator suggested that there are a number of reasons why legacy markets could continue trending lower after their strong rallies over the past few months. These include but are not limited to:

  • A risk-off environment forming as the election nears due to uncertainity about who the victor may be and what policies they may impose.
  • COVID is still not better, sparking fears of a further collapse in businesses as stimulus slows down.

Willy Woo, a prominent Bitcoin analyst, though, thinks that BTC’s correlation will soon begin to break with legacy markets. He did not give an exact timeline on this but noted that it could happen within the next few months.

Photo by Alex Azabache on Unsplash
Price tags: xbtusd, btcusd, btcusdt
Charts from
The Crucial Silver Lining to Bitcoin's Recent $1,000 Drawdown

Source: Bitcoininst

NEM Brings Together the Best of a Community-Led Public Chain and an Enterprise-Focused Private Network

The massively popular public blockchain network NEM has been diligently working to expand into the enterprise solutions ecosystem since 2017. Soon this year, NEM will release Symbol, an enterprise-ready blockchain network. This is a significant move on NEM’s part as the team has always focussed on the utility-centric aspect of blockchain technology.

NEM’s NIS1 blockchain has many firsts to its credit. It was one of the distributed ledgers to enable the proof-of-stake consensus mechanism. NIS1 also introduced the concept of non-fungible assets, supply chain applications for luxury products, and in-built multi-sig features.

Also amongst other utilities introduced were simplified multi-sig, in conjunction with compliant tokenization, that enabled advanced asset management. The NIS1’s community-led early involvement with supply chain solutions paved the way for the popularity of the NEM brand in logistics. From what it appears, NIS1’s most amazing, ingenious solutions, have always had something to do with enterprise use cases.

NEM came out as a result of a  grass-roots movement that originated from a Bitcointalk thread. And the NIS1 chain has acquired a dedicated and globally distributed community which has been the key driver of NEM’s network expansion. Symbol network is a composition of enterprise-ready solutions that have been built over the top of NIS1’s features, with dedicated improvements for commercial use cases. Symbol creates a focused utility for some of the most successful milestones of NIS1’s timeline.

Even though Symbol is indirectly pushing NEM to gain more exposure in the commercial world, the NEM community remains at the epicenter of a wider ecosystem. That’s why Symbol will be launched with NEM Hub, a social media-like ecosystem that can be exclusively accessed by a trustless proof of XEM ownership.

It has been launched through the use of Social Mining, a software product by DAO Maker, a leading European blockchain accelerator. The hub plays a pivotal role in ensuring that the enterprise-focused growth of NEM, via Symbol, does not interfere with the voice and power the community has had.

Rather, the NEM Hub has empowered the community to easily organize its efforts, voice and validate its perceptions in the community, and achieve an eased consensus towards the direction and growth of the NIS1 chain.

Symbol’s purpose is to create a public-private hybrid deployment by syncing with the NIS1 publish chain. While Symbol, the enterprise-ready network, will function as the private plugin, the community-led and -validated NIS1 chain will operate as an ever-strong public network.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.


Source: Bitcoininst

Why Bitcoin Just Surged to $13K in Belarus Amid Massive Protests

Belarus has become a hot ground of the great Bitcoin experiment as the country dwells into one of its most disturbing civil crisis.

Ask prices for the world’s leading cryptocurrency by market capitalization are going higher across peer-to-peer platforms. Data fetched from Paxful, a Bitcoin marketplace, show people demanding a $2,500 premium for one unit of the cryptocurrency. While the rates differ from one seller to another, the average Bitcoin price as on Friday stands near $13,000.

paxful, bitcoin price, belarus protests, btcusd

Bitcoin bids in Belarus and their dollar equivalent rates. Source: Paxful, Google

In contrast, the cryptocurrency is trading in the $10,500-$10,800 area in the US.


Belarus is now in the middle of a severe political and civil unrest. The country’s armed strongman Alexander Lukashenko has been sworn in as a recurring president amid ongoing mass protests against his 26-year dictate.

The 66-year old politician took the oath this Wednesday in a secret ceremony even as the people of Belarus and a section of global leaders called the elections that voted him to power “fraudulent.” Since then, hundreds and thousands of citizens have joined voices on the streets for his resignation.

Meanwhile, the ongoing political turmoil has left the Belarusian economy in a sad state. According to local reports, people have started withdrawing money from their bank accounts en masse. Meanwhile, blue-collar workers are going on strikes and IT companies are planning to migrate elsewhere.

“In the weeks since the 9 August presidential election, Belarusians have flocked to banks to withdraw their ruble deposits and convert them into dollars and other hard currencies,” reported Belarus Digest, a local daily.

The future looks meager, as well. Economists anticipate the Belarusian economy to suffer further as its central bank runs out of liquidity to support the national banks. Meanwhile, a lack of trust in the government would keep downside pressure on the Belarusian Ruble. It could happen as more and more people move out of the country or park their capital elsewhere.

Bitcoin Grows

It is the same period that has seen Bitcoin growing against the Belarusian Ruble, that too, by premium rates. That signals a massive shift towards the cryptocurrency as the civil unrest grows.

Pieces of evidence also come in the form of new Bitcoin-enabled initiatives in Belarus. A local nonprofit, BYSOL​, for instance, is currently helping people who were expelled from duties for protesting against the Lukashenko regime by paying them in Bitcoin. The group has raised about $2 million in donations so far.

Cases such as these also hope to alert other protestors about Bitcoin and its significant role in protecting themselves against any form of government-led crackdowns. That partially explains why its rates on Belaurisan p2p marketplaces went higher this week.

Bitcoin, cryptocurrency, btcusd, btcusdt, xbtusd

Bitcoin is up 50 percent on a year-to-date timeframe against the dollar. Source:

BTC/USD was trading at $10,694 at the time of this writing in the US markets.

Source: Bitcoininst

A Lifelong US Dollar Downtrend Paints Bullish Outlook for Bitcoin

The US dollar is on track for its most significant monthly performance since July 2019. But it continues to feel the pressure from its all-time bearish outlook.


A monthly chart of the US dollar index (DXY), a barometer to gauge its performance against a basket of top foreign currencies, shows the greenback in a lifelong downtrend. So it appears, the index has been trending lower inside a Descending Channel, as confirmed by more than two lower highs and lower lows.

us dollar, dxy, greenback, us dollar etf

DXY pulls back after testing the upper trendline of the giant Descending Channel. Source:

The purpled area shows a retest of the upper trendline for a breakout in March 2020, followed by a strong rejection.

It was not the US dollar’s first attempt to break over the Channel resistance; the greenback has been seeking a bullish move since 1985. Nevertheless, it has failed every time, with a few successful breakouts turning out to be fake.

The technical fractals alone leave the US dollar in a very bearish state.

It is also because of the greenback’s medium-term outlook. As the chart shows, DXY lately broke out of its prevailing Ascending Channel (black) to the downside. The index invalidated the support trendline that had helped it maintain its bullish bias since April 2011.

DXY pulled back by 2.38 percent so far into the September 2020 trading session. Nevertheless, the index showed signs of weakness near the Ascending Channel support, hinting that it could either consolidate ahead or move lower towards the ‘purple support’ as it has done in its 25 years of trading.

Bitcoin vs the US Dollar

A Bitcoin price chart (BTC/USD) looks an exact opposite of the one of the US dollar index.

Bitcoin, cryptocurrency, btcusd, btcusdt, xbtusd

BTCUSD looks prepared to continue its cyclical patterns upward. Source:

A younger asset, nevertheless, the world’s first decentralized cryptocurrency has logged two bullish cycles in the past, returning exponential gains of up to circa 886,000 percent. After setting a top near $20,000, BTC/USD has undergone a long consolidation trend but has traded near the upper trendline of its sideways channel.

Bitcoin’s relevance as an investable asset grows because of its scarcity. Speculators look at the cryptocurrency as their backup plan against the US dollar’s long-term bearish outlook. A majority of them are retail traders/investors whose savings have gone down due to the unlimited supply of the greenback.

The same trend is brewing after this year’s COVID pandemic. As the economic recovery slows down to dangerous levels, the Federal Reserve has committed to maintain ultralow lending rates and raise their inflation targets beyond their 2 percent benchmark.

The fundamentals ensure the US dollar will find it difficult to break above its purple resistance trendline in the months ahead. Meanwhile, flight to safety into Bitcoin could help it continue its long-term uptrend.

Source: Bitcoininst

Bitcoin Shoots To $10,800: Here’s What Analysts Think Comes Next

  • Bitcoin has recovered after a strong decline earlier this week.
  • After dropping under $10,200 just over a day ago, the cryptocurrency has sprung back above $10,500.
  • The coin now trades at $10,800, having undergone a strong rally just a few hours ago.
  • The coin is up around 5% in the past 24 hours, rising as the U.S. dollar’s rally begins to taper off.
  • Some pin the rally on an ongoing expiry in the futures and options markets, which are likely causing traders to open and close positions.
  • Whatever the case, analysts are attempting to determine what comes next for Bitcoin.

Move Liquidates Millions in Bitcoin Positions

Bitcoin’s recent move to the upside has resulted in millions of dollars worth of liquidations in the futures market for BTC.

According to, around $12-15 million has been liquidated in the past 24 hours due to the move higher. Those are statistics for BitMEX’s Bitcoin futures market only. This suggests that there were likely dozens of millions more liquidated on other futures platforms and with other cryptocurrencies like Ethereum.

Data from ByBt suggests that the pump has not resulted in overleveraging on either side of the futures markets.

All leading Bitcoin futures markets, including BitMEX, OKEx, Huobi, and ByBit, all have neutral funding rates at the moment. This suggests that the price of the future is trading around the spot price, further cementing the idea that neither side is overleveraged.

This means that Bitcoin could continue to move higher sustainably, as long as the move is largely spot driven.

Bullish as BTC Retakes Key Levels

Analysts say the recent move higher was a bullish breakout as opposed to a bearish retest of resistance.

One analyst shared the chart below, pointing to how the recent rally may take Bitcoin above a crucial trend level around $10,550. Bitcoin retaking this level on a daily basis may suggest that the prevailing trend is bullish.

The chart shows that the cryptocurrency topped at that exact level on two occasions over the past year, suggesting it is a point to watch out for.

Bitcoin is primed to retake that level because as of the time of this article’s writing, one hour before the daily close, the cryptocurrency is sitting nearly $300 above that support.


Chart of BTC's price action over the past few months with analysis by crypto trader TraderKoz (@TraderKoz on Twitter). Chart from
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from
Bitcoin Shoots To $10,800: Here's What Analysts Think Comes Next

Source: Bitcoininst

One of Bitcoin’s Bull-Scenarios Was Invalidated by Selloff; Factors to Consider

  • Bitcoin has been caught in the throes of immense volatility throughout the past few days, with the cryptocurrency being unable to form a sustainable trend
  • This has led investors to question what could come next for BTC, as it is still caught within the long-held trading range between $10,000 and $11,000
  • That being said, the latest decline that sent the crypto reeling down from its $10,500 daily highs struck a blow to its technical outlook
  • One analyst observed that this latest decline invalidated a key support that was previously bolstering one of his bull-scenarios
  • Now that this level is broken, buyers have some serious work cut out for them if they want to catalyze further upside

Bitcoin and the aggregated cryptocurrency market have witnessed immense turbulence as of late, with BTC’s indecisive price action creating some chaos amongst altcoins.

The benchmark cryptocurrency may continue to lack a trend in the near-term, as its inability to find any stability seems to indicate that it will soon make a large movement in one direction or another.

While speaking about this possibility, one trader explained that he believes that the next move is likely to favor bears.

He specifically notes that one of the primary bullish scenarios he was watching was invalidated by Bitcoin’s latest decline. This is a grave sign that suggests downside could be imminent.

Bitcoin Continues Lacking a Trend as Bears Try to Take Control

At the time of writing, Bitcoin is trading up marginally at its current price of $10,350. This is around the price at which it has been trading at throughout in the time following its rebound from daily lows of $10,200.

Bears have been slowly pushing BTC lower over the past several days, but it has yet to test its critical support region between $9,900 and $10,000.

A continued defense of this area would be a bullish sign. Because of its firm downtrend sparked by its $11,200 rejection, a visit to this level may take place in the near-term.

Trader: One of BTC’s Main “Bullish Scenarios” has Been Invalidated

A popular cryptocurrency analyst offered a grim outlook on Bitcoin, noting that the recent price decline pushed its daily candle below $10,500 – which was a key support.

He said that this decline could indicate that further losses are imminent.

“BTC: I’ve had possible bullish scenarios on 3 timeframes going into this week: monthly, weekly, and daily. This invalidates the daily, I’ll still just chill and wait for the other two (due to them being more important) but that’s not necessarily a sign you wanna see as a bull.”


Image Courtesy of DonAlt. Chart via TradingView.

Unless Bitcoin rallies higher and recaptures this support, further downside could be imminent in the days ahead.

Featured image from Unsplash.
Charts from TradingView.

Source: Bitcoininst

Ethereum has Yet to Reach a Critical Support Zone; Will It Tap $300?

  • Ethereum’s price action has been nearly identical to that of Bitcoin throughout the past couple of days
  • This caused the crypto to dip as low as $318 yesterday, at which point buyers stepped up and catalyzed from strong momentum
  • This pushed the cryptocurrency up to highs of $340, which is where it found some resistance
  • ETH is now caught within a bout of sideways trading, and its price is offering few signs of clarity to investors
  • One trader is noting that Ethereum is yet to visit one key liquidity region. This could indicate that it will soon see further losses

Ethereum and the entire crypto market have been put in a precarious situation throughout the past few days and weeks, with buyers being unable to maintain control following Bitcoin’s rejection at $11,200.

The intense selling pressure seen here slowed its ascent and caused it to reel down towards $10,200, taking Ethereum and other altcoins down with it.

Much like BTC, ETH was able to post a notable rebound from its recent lows and is now trading around the level at which it has been at throughout the past few days.

One analyst is noting that it has yet to tap a critical support region. This could indicate that further downside is imminent before a macro bottom is formed.

Ethereum Consolidates Following Overnight Rebound

At the time of writing, Ethereum is trading up nearly 5% at its current price of $335. This is around the price at which it was trading at prior to the recent selloff that led it to lows of $318.

The cryptocurrency has primarily been caught within a bout of sideways trading for the past few days, with bulls trying to figure out what comes next following the intense decline from its $390 highs.

Where it trends next will likely depend on Bitcoin, which is also caught within a consolidation phase.

Analyst: ETH has Yet to Reach Critical Support 

One analyst observed that Ethereum’s bedrock support exists within the lower-$300 region, and has yet to be tapped by the cryptocurrency.

As such, a visit to this level may be vital for the crypto to form a sustainable bottom that kicks off an uptrend.

“ETH / USD: We didn’t even get a chance to see this major buy zone before buyers once again step in a aggressively and defend price action, anything sub $320 and buys are confident. Would love to see a retest of $360 over the weekend,” he said.


Image Courtesy of Cactus. Chart via TradingView.

The coming few days should provide some insights into whether or not this level will be visited in the near-term.

Featured image from Unsplash.
Chart from TradingView.

Source: Bitcoininst

Analyst: Bitcoin is Likely to Slowly Bleed Towards $8,550 Before Rebounding

  • It has once again been a turbulent overnight trading session for Bitcoin
  • The benchmark cryptocurrency plunged as low as $10,200 yesterday afternoon before bulls stepped up and slowed its descent
  • The rebound from these lows led it to kick off a slight uptrend that has reversed the majority of yesterday’s losses
  • Analysts are now noting that its near-term trend may depend largely a few key factors
  • It is important to note that the majority of these factors are not currently working in BTC’s favor
  • This could indicate that it will see a slow bleed down to its crucial support in the $8,000 region before it can rebound

Bitcoin is currently stuck within another consolidation phase, with bulls gaining control over its near-term trend following a sharp dip seen yesterday.

This dip led the crypto from highs of over $10,500 down to lows of $10,200, which is where bulls began providing BTC with some serious buying pressure.

The rebound from here has been promising, with its price now sitting around $10,400 as buyers take aim at recapturing its daily highs.

Despite the bullish response to yesterday’s dip, Bitcoin may still be in a precarious position.

One analyst observed that there are several factors currently counting against bulls. He specifically noted that a slow bleed down towards $8,500 could be imminent.

Bitcoin Struggles to Maintain Momentum as Bulls Gaurd Against Downside 

At the time of writing, Bitcoin is trading up just over 1% at its current price of $10,400. This is around the price at which it has been trading at throughout the past few days.

The cryptocurrency has been unable to garner any decisive momentum in recent weeks, with sellers being in firm control in the time following the $11,200 rejection.

Although the lower-$10,000 region is acting as strong support – as indicated by yesterday’s dip, there’s still a chance that further downside is imminent.

Analyst: These Simple Factors Spell Trouble for BTC 

While speaking about Bitcoin’s near-term outlook, one analyst explained that while Bitcoin’s funding/premium is negative, its MFI is drying down, the US Dollar Currency Index is trending higher, and there’s unswept liquidity below.

He notes that the latter of these three factors indicates that serious downside could be imminent in the days and weeks ahead.

“Bitcoin: Funding + premium negative [check] MFI drying down [x] DXY up [x] Unswept liquidity below [x]. Simple: Historically no big nukes on negative funding but BTC is likely to bleed down with traditional markets. $8800-$8550 is get 10 loans and all in area.”


Image Courtesy of Mac. Chart via TradingView.

Unless bulls step up and catalyze a sharp move higher that invalidates Bitcoin’s current weakness, further downside may be imminent.

Featured image from Deposit Photos.
Charts from TradingView.

Source: Bitcoininst

Max Keiser Reports Bitcoin “Relative Strength” Is Good As Gold

Bitcoin price may have snapped back below $11,000 and is struggling to maintain the all-important support level of $10,000, however, its showing more “relative strength” than gold currently. That statement is from outspoken crypto bull Max Keiser, who in the past has predicted the leading cryptocurrency by market cap will reach prices of $400,000 or more. 

Is Keiser correct, or is the Bitcoin backer simply wearing rose-colored glasses when it comes to the cryptocurrency?

Max Keiser Says Crypto Is Showing Solid “Relative Strength” Versus Gold

This year has been a wild rollercoaster ride across all markets. After an enormous drop on Black Thursday, markets have been steadily climbing higher, but have recently started to slow and chug along. What typically comes next in any form of the popular amusement park ride, would be the final shocking drop before the ride starts again.

The fall has started but most assets have taken a pause. Bitcoin is thus far holding above $10,000, while the safe haven asset it is said to share similarities with has struggled comparatively.

Both Bitcoin and gold have since pulled back significantly from local 2020 highs, but one asset is showing more “relative strength” than the other, according to Max Keiser.


Keiser, from The Keiser Report, is a staunch Bitcoin believer and one of its most outspoken supporters. He regularly comments on his beliefs related to the cryptocurrency industry and the rest of the world of finance.

Keiser, expects Bitcoin to ultimately reach prices of $400,000 or more, but is he right about the crypto asset holding stronger in current market conditions compared to the precious metal?

Relative Strength Index Proves Bitcoin Is Beating The Precious Metal At Its Own Game

Thanks to technical analysis, Keiser’s theory can be put to the test. Keiser claims Bitcoin’s “relative strength” is good compared to gold’s, and he is right.

The Relative Strength Index is a trend strength measuring tool created by J. Welles Wilder Jr. Wilder also created several other of the most popular trading tools used today, including the Parabolic SAR, and Average Directional Index.


The RSI, for short, can signal when an asset is oversold or overbought. According to the charts below, Bitcoin has recovered from oversold conditions far more sharply than gold has. Gold also reached significantly more overbought and oversold conditions that Bitcoin did.

bitcoin btcusd gold xauusd relative strength index

BTCUSD Versus XAUUSD Relative Strength Index Comparison Chart | Source: TradingView

The leading cryptocurrency by market cap’s price action also shows consecutive higher lows, while XAUUSD has set a lower low on daily timeframes.

Charts don’t lie, and while Keiser is undeniably a Bitcoin bull through and through, he’s 100% correct about the crypto asset holding strong a lot better than gold, the original safe haven asset.

Featured image from DepositPhotos, Charts from TradingView

Source: Bitcoininst

Can DeFi Survive Without CeFi? Bitrue’s Hybrid Solution Might Be The Middleground

Decentralized finance has been crypto’s defining motif this year, thanks in no small part to the ascendance of token mining solutions popularly known as yield farming. However, despite billions of dollars of crypto assets being locked into DeFi protocols, it has still to be determined whether decentralized finance can realize the lofty goals that inspired its creation, like banking the unbanked and providing greater financial inclusion.

What’s beyond dispute is that the legacy financial system crippled by excessive regulations and distorted by extremely loose central banks’ monetary policies is badly in need of disruption. And this is where hybrid solutions that leverage the best aspects of the centralized and decentralized worlds can play an important role. One such provider that straddles both domains, CeFi and DeFi, is Bitrue.

Enter Bitrue

Bitrue is a reputable financial management platform with a solid user base in Europe and Southeast Asia. Founded in 2018 by a group of crypto enthusiasts led by current CEO Curis Wang, Bitrue started out as a cryptocurrency trading platform initially focused on Ripple’s XRP as one of their base currencies, and the platform still plays a prominent role in the XRP ecosystem. At the moment, it processes the second-highest volume of trades in XRP, more than 15%, and supports a wide range of XRP-denominated trading pairs.

Curis Wang, Bitrue’s CEO believes that Bitrue’s hybrid solution can create a balanced DeFi/CeFi paradigm

Bitrue’s exchange also features a range of other trading pairs in carefully selected assets with a total daily trading volume of around $300 million. The Bitrue platform has 543,000 active traders and 1.62 million registered users. In year-to-year terms, Bitrue’s community has grown by 330% and its daily trading volume by 620%.

Importantly, while trading remains a core functionality of the platform, it has been rapidly expanding to the world of crypto finance. In particular, Bitrue has for some time allowed users to take collateralized crypto loans and earn interest on their crypto via the pioneering PowerPiggy program. The latter currently supports 26 different coins and loans can currently be taken in USDT, BTC, XRP, or ETH.

Bitrue Makes Its DeFi Play

Recently, Bitrue has revealed that the platform will switch from a purely centralized (CeFi) model of crypto lending and investment to a hybrid model containing both centralized and decentralized components. The first DeFi component that is planned for rollout in Q1 2021 is a peer-to-peer matching engine for borrowers and lenders. Bitrue’s DeFi ecosystem will be powered by the recently created Bitrue Finance (BFT) token. The first round of the token distribution has already taken place via a pre-sale and public sale and the token is now trading on Bitrue. The platform’s original native token (BTR) will continue to be used for its current purposes, such as allowing traders to pay less in exchange fees and receive higher interest rates in PowerPiggy, etc. 

Bitrue is also planning to launch its liquidity mining program by the end of October. It will make it possible for users to earn rewards in BFT and other tokens for providing liquidity to the relevant liquidity pools. In contrast to pure DeFi yield farming, Bitrue Liquidity Mining will be much easier to use and accessible even to newcomers to crypto finance. Users will be able to just deposit their coins for a certain period and receive rewards without the need to interact with several different protocols themselves.

Whether you are interested in highly secure and easy-to-use crypto trading and financial services, or a battle-hardened yield farmer, you will find options to explore within the Bitrue ecosystem. The platform is proof that DeFi’s growth doesn’t have to come at the expense of CeFi and vice-versa: the two can co-exist via hybrid solutions that combine the best of both worlds.

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.



Source: Bitcoininst