Bitcoin is up approximately 15% from recent lows, while Ethereum has recovered by 85% due to the upcoming Merge. The market is once again starting to heat up after a prolonged crypto winter. Is it time to go long, or will you risk having to FOMO in later? Is it still time to go short, with recession fears and an aggressive Fed too much for bulls to compete with?
Using PrimeXBT, traders can take advantage of the crypto market recovery while still staying safe with hedge positions and a well-diversified trading portfolio. Here’s how.
How To Be A Genius During Crypto Winter
When the crypto market was bullish alongside stocks and other risk assets following the pandemic, going long Bitcoin or Ethereum, or just about any shitcoin, could have resulted in a big win. But as they say, everyone is a genius in a bull market.
When the market is rising, making money is a lot easier because the trend is your friend. When markets turn bearish in crypto, the trend can become your worst enemy unless you have the right trading tools at your disposal.
HODL Your Crypto, Hedge, And Trade
With PrimeXBT, you never have to sell your precious crypto assets. Using BTC, ETH, USDT, USDC, or COV as collateral, PrimeXBT enables up to 200x leverage on long and short positions in cryptocurrencies. By going short, you can hedge spot crypto positions or play it safe before committing to a fully long position to profit from a bullish reversal.
The award-winning margin trading platform also provides exposure to traditional market alternatives to crypto trading. The global financial landscape is vast, and cryptocurrencies only represent a fraction of what is possible. PrimeXBT offers more than 100 different trading instruments across forex currencies, commodities, stock indices, and more. All of the hottest macro markets are included, such as oil, gold, and the S&P 500.
Why PrimeXBT Stands Out From The Competition
Prior to PrimeXBT, this was never possible. Traditional brokers wouldn’t trust cryptocurrencies, and crypto exchanges lack the expertise to handle traditional assets and the professional tools necessary to maximize profitability and minimize risk.
Reducing risk during a crypto winter is always a wise choice. A portfolio too heavy in crypto can lead to significant losses. Diversifying long and short positions in an abundance of markets exposes traders to more opportunities, and risk is spread across all positions. If one asset class underperforms, others can pick up the slack.
Stay Connected With Updates On Macro Conditions
PrimeXBT also provides a weekly Market Research Report with important macro information and market news related to traditional assets and crypto. Traders can utilize the intel to make informed decisions about what positions to take or what portfolio adjustments to make. PrimeXBT Market Research Reports include CPI data, updates on Fed interest rates, monetary policy, and other economic data that could have a significant impact on asset prices.
The platform also offers a complete educational website called PrimeXBT Trading Academy, where users can access tips, videos, and trading strategies designed by expert trader Dirk Hartig. The PrimeXBT Contests section of the platform lets users take the knowledge and test their skills using risk-free virtual funds. Because there is no risk of loss, traders can backtest trading indicators and other strategies or simply compete in weekly competitions for a chance to win crypto rewards and fame.
Covesting Makes Making Money Off Markets Easier
If you still aren’t sure how to approach markets with all the above at your disposal, there is also the Covesting copy trading module. In today’s harsh crypto winter, making smart investment decisions is a must. With Covesting copy trading, followers can follow top strategy managers who rank highly on the Covesting leaderboards.
Strategy managers compete against one another for the highest profits to rise the ranks and attract the most followers. Followers copy the trades of these highly skilled traders and make money each time they do, without having to do all the hard work associated with trading, such as technical analysis.
Focus On Smart Passive Investing For The Safest Option
Covesting lets you browse through hundreds of strategies created by some of the most experienced traders in the business. But that isn’t the only way Covesting keeps capital safer and profits flowing. Covesting yield accounts connect to top DeFi applications without all the fuss, earning a variable APY on idle crypto assets through staking.
Covesting yield account staking rates can reach up to 14% during peak market conditions, require no active trading whatsoever, and can be done right from the comfort and convenience of the PrimeXBT account dashboard. Yield account staking APYs can be increased by up to 2x by activating COV token memberships. Covesting users can also get COV tokens or buy cryptocurrencies from the PrimeXBT platform or mobile app.
Get It All With The Full Suite Of PrimeXBT Trading Tools
Crypto is heating up but hasn’t caught fire entirely and set a new bull trend ablaze. Until that happens, playing it safe and proceeding with caution is recommended. With PrimeXBT, you can take advantage of the crypto recovery while still being calculated through careful portfolio diversification and hedge positions.
The browser-based platform is ultra-reliable, secure, and packed with incredibly powerful trading tools. The PrimeXBT mobile app for Android and iOS is free yet still offers on-the-go access to the full suite of trading tools, products, and services. If you haven’t yet experienced the advanced platform for yourself, check out PrimeXBT today.
