Bitcoins Transferred Increasing Considerably According to eToro

*Your capital is at risk.

Think about this for a moment…

During a rally of between May 4th and May 18th, the world’s largest cryptocurrency, Bitcoin price appreciated more than 50% against the US dollar, with a high of $7,946.01.

Markets were down across the board, with the Dow Jones Industrial Average falling 696 points, and the U.S. equity markets down.

That’s not all

According to Mati Greenspan, chief market analyst at eToro, there was a dramatic rise in the amount of Bitcoin deposited surging 13% between 4th and 18th May when Bitcoin surged against the US dollar.

Do you want to know why?

Growing concerns about a bond market recession by investors and the US-China trade war has people moving their assets out of traditional markets.

An escalation in the tit-for-tat trade war between the world’s two biggest economies and news that China was going to add tariffs on around $60 billion U.S. goods saw a sharp decline in stocks.

The Chinese yuan declined to a four-month low while stocks in mainland China fell to four-month lows as well.

A correlation

According to the head of research at Garrick Hileman, who was interviewed by the South China Morning Post, Bitcoin and China’s official currency, Renminbi has formed a correlation when the Renminbi plunged to a six month low in May.

There’s more

He said that they observed the rise of Bitcoin closely correlated with the decline in the RMB during the trade tensions.


This suggests that during potential economic crises, Bitcoin is being treated as a hedge by investors which explains the dramatic increase in bitcoin holdings by investors on the eToro platform.

Hileman is not the only one to make a correlation with Bitcoin.

Managing partner at NobleBridge Wealth Management, Tyrone Ross also believes that people are looking at bitcoin as a credible asset, as a type of digital gold.

Still not convinced?

Andy Brenner, Head of International fixed income at National Alliance Securities, also made a correlation between the rise of Bitcoin and the divergence in Chinese currency prices.

He observed the latest run of Bitcoin coincided with the fall in the value of the Chinese Yuan vs the dollar.

Bitcoin's YTD rally

Bitcoin’s YTD rally

He thinks it is logical that Bitcoin would be a short term alternative if you were in China and wanted to diversify.

In addition to that, after starting the year around $3,700, Bitcoin has more than doubled.

Compare it to the S&P 500 which is only up around 12% for the same period.

Astonishing, isn’t it?

Unfortunately, Bitcoin is also faced with negative news.

Just a month ago, one of the world largest cryptocurrency exchanges was hacked with 7,000 bitcoin worth $40 million being stolen from Binance.

The simple truth is that…

It just goes to show the importance of trading with a reliable and honest broker like eToro.

In addition to that

In a study that was published by Bitwise, it showed that 95% of Bitcoin spot trading is faked by unregulated exchanges, making it ripe for manipulation.

But one thing’s for sure, Bitcoin is becoming a safe haven or the ‘digital gold’ when markets hit headwinds.

The best part?

Is that you have the opportunity to trade with the leading social networking provider eToro who provide a unique trading platform where you can invest in over 1,000 trading instruments CFDs or contracts for difference, which includes:

  • Stocks
  • Commodities
  • Indices
  • Currencies

And here’s the extra good news:

You have a choice of the most popular cryptocurrencies like Bitcoin, Ether (digital currency for the Ethereum blockchain), Bitcoin Cash, Ripple, Dash, Litecoin, Ethereum Classic, Stellar Lumens and NEO to choose from.

Cryptocurrency CFD trading on eToro

Cryptocurrency CFD trading on eToro

By trading cryptocurrencies at eToro, you won’t get left behind especially with Bitcoin and other cryptocurrencies making a comeback.

Allow us to explain

eToro recently launched the eToroX exchange with the addition of new instruments:

  • 2 commodity-stablecoins: eToro Gold (GOLDX) and eToro Silver (SLVX)
  • 2 new fiat-stablecoins: eToro Ruble (RUBX) and eToro Yuan (CNYX)

A unique and innovative platform

eToro has emerged as the leading social network provider because of its unique and innovative trading platform which has over 10 million users worldwide.



Here, you can mimic another trader’s portfolio and interact and connect with other traders through social media platforms like LinkedIn, Facebook and others.

To top it off…

You also can store, send and receive multiple coins on eToro’s digital multi-signature wallet which makes it convenient and easy to convert between them.

Perks galore!

Here are just some of the many perks you get to enjoy when you sign-up:

  • Intuitive and easy to use platform
  • Learn about trading strategies, risk management tools and lots more in the education program, with video’s, e-books and more
  • Low minimum deposit of only $200
  • No hidden fees or commissions
  • Exclusive trader programs and frequent financial news updates
  • Powerful, advanced financial trading tools
  • Free demo account with $100,000 virtual money to practice trades

Bottom line?

As the global markets react negatively to the ongoing trade war, Bitcoin is becoming a safe haven or ‘new gold’ for traders.

Tick-tock and climbing, so go ahead and start trading with eToro, the leading and fully authorized and regulated social networking provider that offers the best trading conditions.


Visit eToro Site

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.



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