After having a good year with enthusiastic feedback from the trading community, OctaFX has finally opened its crypto trading offer for the weekends.
The cryptosphere is rattling through a rough phase, to say it mildly.
Bitcoin reached its all-time high on 8 November with a price of 67,566 U.S. dollars and experienced a downtrend until recently. As of this writing, bitcoin has recovered to 42,020 U.S. dollars from a chilling 34,774 U.S. dollars (minus 48.53% from the previous all-time high), taking the entire altcoin market with it down this spiral. For some time, industry experts were beginning to expect a comprehensive bear market to unfold before turning bullish again.
Then again—from an investor’s mindset—this is exactly what most should be waiting for. The famous investor Warren Buffet made expert use of the bear market that unfolded in 1973–1974 by buying assets while most market participators were in fear of acting.
If one goes back even further in history, at the dawn of the 19th century, the prominent banker Baron Rothschild is reported to have said: ‘Buy when there’s blood in the streets, even if the blood is your own’.
For Forex trading, this is irrelevant since one can trade the up- as well as the downside of the fiat and cryptocurrency markets.
And up until recently, the global Forex broker offered its cryptocurrency trading only Mondays through Fridays.
The fintech company went a step further for 2022’s first quarter by launching its new weekend time frame option—it officially started on 5 February.
These are the current cryptocurrencies pairs—all paired with the world reserve currency—touched by this service upgrade.
- BCHUSD (Bitcoin Cash/U.S. dollar)
- BTCUSD (Bitcoin/U.S. dollar)
- ETHUSD (Ethereum/U.S. dollar)
- LTCUSD (Litecoin/U.S. dollar)
- XRPUSD (Ripple/U.S. dollar)
All of these pairs come with a ratio of 1:25 maximum leverage.
OctaFX is a global broker that provides online trading services worldwide since 2011. It offers a state-of-the-art trading experience and a top-notch service environment to over 7.5 million traders worldwide. In that sense, OctaFX has won more than 45 awards since its foundation, including the 2021 ‘Best Forex Broker Asia’ award and the 2020 ‘Most Transparent Broker’ award from Global Banking & Finance Review and Forex Awards, respectively. It’s also adamant in providing and upholding the best financial expertise, analytics, and educational programmes in the industry.