1. BITBILIHome
  2. Article

Bitget MD complains about the negative impact of copy trading

• 65 views

TL;DR Breakdown

  • Bitget MD Gracy Chen has complained about the negative impact that copy trading is having on the crypto market.
  • The firm continues its growth with a sojourn into the Middle East.

Description

Copy trading, a trading strategy that links a portion of a trader’s funds to the account of a copied investor has been making waves in the cryptocurrency industry. Gracy Chen, the managing director of Bitget, a crypto derivatives and copy trading platform, highlighted the strategy’s growing popularity among novice traders. Copy trading has not only … Read more

Copy trading, a trading strategy that links a portion of a trader’s funds to the account of a copied investor has been making waves in the cryptocurrency industry. Gracy Chen, the managing director of Bitget, a crypto derivatives and copy trading platform, highlighted the strategy’s growing popularity among novice traders. Copy trading has not only disrupted the crypto market but has also proven to be effective, especially during challenging times like the “crypto winter.”

Bitget MD backs up his complaints with market data

Chen referred to a report showcasing a remarkable 300% growth in copy trading adoption over the last 24 months. The report, based on Google search data, revealed that while copy trading enjoys global popularity, African traders and prospective users are particularly intrigued by this strategy. The concept of copy trading allows traders to replicate specific strategies employed by seasoned investors.

This approach is especially favored by risk-averse individuals seeking to benefit from the expertise of more experienced traders. Bitget, under Chen’s leadership, has experienced significant growth thanks to the adoption of copy trading. Since its launch in May 2020, over 400,000 traders have utilized this trading strategy on the platform. With the bear market persisting, more risk-averse traders are expected to pivot toward copy trading to leverage the knowledge of professional traders.

Chen shared that Bitget’s internal data indicates that 28% of traders have already resorted to copy trading in 2023. Furthermore, an impressive 109,000 followers of the platform’s professional traders have successfully generated profits. While copy trading is a key driver of Bitget’s market share growth, the platform’s partnership with football star Lionel Messi has also played a vital role in its success.

The platform continues its growth with a sojourn into the Middle East

Additionally, Bitget’s establishment of a protection fund and regular publication of proof-of-reserves have further bolstered user confidence. Bitget’s strategic decision to set up an office in the Middle East is attributed to the region’s crypto-friendly policies. Moreover, the presence of influential figures and strategic partnerships in the Middle East further validates the platform’s choice to expand its operations to the region.

As copy trading continues to gain momentum and attract a broader audience, it is reshaping the landscape of cryptocurrency trading. Novice traders can now access the insights and strategies of seasoned professionals, providing them with valuable learning opportunities and the potential for profitable investments.

The growth in copy trading adoption signals a shifting tide in the crypto market, as investors seek to navigate uncertainties with more confidence. The collaboration between seasoned traders and followers creates a mutually beneficial ecosystem, fostering a sense of community and knowledge-sharing within the crypto space.

With platforms like Bitget leading the way in copy trading, the future of this trading strategy appears promising. As the crypto market evolves, copy trading is likely to remain a prominent feature, empowering traders of all levels to participate in the dynamic world of cryptocurrency with enhanced knowledge and reduced risk. As more traders embrace this innovative approach, the crypto industry is set to witness further disruption and growth on its journey toward wider adoption and mainstream recognition.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Bitget MD complains about the negative impact of copy trading

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月24日 06:57
Next 2023年7月24日 07:45

Related articles

  • Japan ranks first in losses to North Korean hackers

    TL;DR Breakdown Japan takes first place in losses of funds to North Korean-linked hackers. The report shows that Japan and Vietnam have vulnerabilities in digital security. According to a recent study conducted by blockchain analytics firm Elliptic, Japan has emerged as the primary target of cryptocurrency-related cyberattacks by North Korean hackers. The study, commissioned and reported by the Japanese financial publication Nikkei, examined cryptocurrency losses resulting from North Korean cyberattacks between 2017 and 2022. Japan has lost $721 million to the hackers The report encompasses both hacking and ransomware incidents. Elliptic noted that these attacks are part of North Korea’s overarching national strategy. The study revealed that Japan incurred losses of $721 million, accounting for 30% of the global total of over $2.3 billion in losses. This estimate was based on the approximate loss of $640 million in cryptocurrency during 2022. The United Nations also reported that North Korean crypto theft reached record levels in 2022. The amount stolen from Japan alone exceeds the value of North Korea’s exports in 2021, according to the Japan External Trade Organization cited by…

    Article 2023年5月17日

  • Bank of England clears path for digital pound backed by Project Rosalind study

    TL;DR Breakdown BOE is advancing towards the launch of the digital pound following Project Rosalind’s positive reinforcement. Gilbert Verdian, CEO and founder of Quant, calls Britain an “epicenter of the next generation of financial systems” The Bank of England(BOE) is advancing towards the launch of the digital pound following Project Rosalind’s positive reinforcement. The project, conducted over the past year, revealed that the technology can support a “diverse range” of new money uses. Positive feedback received on the digital pound Project Rosalind was started last year and was managed by the UK institution in conjunction with the Bank for International Settlements, to identify the workings and benefits of a central bank digital currency(CBDC), particularly the digital pound. According to a report published by the BIS, the first phase of the project found that a CBDC could fasten individual payments and make transactions easier. Firms could also introduce the latest financial products with the additional benefit of lower fraud rates using a “digital pound” CBDC. In addition, it brings about the concept of money “programmability,” allowing payments, for example, to settle…

    Article 2023年6月19日

  • Mastering China: UBS reveals winning strategy amid tensions

    TL;DR Breakdown UBS provides a strategy for navigating China’s volatile economic landscape. Emphasis on key policy areas like property easing, private sector support, and local government debt solutions. Description With the looming unpredictable clouds over China’s economic landscape, UBS has recently shed some light on how to navigate this turbulent financial storm. Drawing upon their insights and expertise, they’ve carved a roadmap for investors who are brave enough to venture into this complex territory. UBS: Finding Opportunity amidst the Chaos UBS doesn’t shy away … Read more With the looming unpredictable clouds over China’s economic landscape, UBS has recently shed some light on how to navigate this turbulent financial storm. Drawing upon their insights and expertise, they’ve carved a roadmap for investors who are brave enough to venture into this complex territory. UBS: Finding Opportunity amidst the Chaos UBS doesn’t shy away from acknowledging the dynamic and volatile nature of the Chinese market. Their recent directives to investors revolve around anticipating and leveraging key policy-related measures. These encompass areas such as property easing, private sector aid, consumption incentives, and resolving…

    Article 2023年9月4日

  • Alibaba makes a play in Apple-China beef – How?

    TL;DR Breakdown Apple’s iPhone 15 launch overshadowed by China’s unofficial discouragement of using foreign tech. Huawei tries to reclaim market share with new 5G smartphone releases. Alibaba’s strategic silence amidst the tech conflict draws attention. Daniel Zhang’s resignation from Alibaba suggests Jack Ma still influences the company’s direction. Description Tech magnate Apple recently unveiled the iPhone 15, boasting of its cutting-edge 3-nanometer mobile processors crafted by the Taiwan Semiconductor Manufacturing Co. This release, however, was shrouded in whispers and wary eyes, given China’s veiled admonishments towards the tech giant. Notably absent from this tussle? Alibaba, one of China’s leading tech behemoths. Their conspicuous silence … Read more Tech magnate Apple recently unveiled the iPhone 15, boasting of its cutting-edge 3-nanometer mobile processors crafted by the Taiwan Semiconductor Manufacturing Co. This release, however, was shrouded in whispers and wary eyes, given China’s veiled admonishments towards the tech giant. Notably absent from this tussle? Alibaba, one of China’s leading tech behemoths. Their conspicuous silence is a game-changer and deserves attention. Apple and the Chinese Quandary Despite launching their state-of-the-art iPhone 15 series,…

    Article 2023年9月14日

  • Hong Kong authorities crack down on unlicensed crypto exchange JPEX

    TL;DR Breakdown Hong Kong authorities arrested eight individuals, including social media influencers, connected to JPEX, an unlicensed cryptocurrency exchange, following complaints from over 1,600 investors who lost more than $150 million in assets. The Securities and Futures Commission (SFC) is intensifying regulatory oversight, with Chief Executive John Lee emphasizing the need for investors to use only licensed platforms. The SFC is also investigating JPEX for potential violations of anti-money laundering ordinances. Description Hong Kong authorities arrested eight individuals linked to JPEX, an unlicensed cryptocurrency exchange. The arrests included social media influencers who had promoted the platform and employees of JPEX. The crackdown followed complaints from more than 1,600 investors who claimed to have lost over $150 million in assets. Hong Kong police have since frozen bank accounts … Read more Hong Kong authorities arrested eight individuals linked to JPEX, an unlicensed cryptocurrency exchange. The arrests included social media influencers who had promoted the platform and employees of JPEX. The crackdown followed complaints from more than 1,600 investors who claimed to have lost over $150 million in assets. Hong Kong police…

    Article 2023年9月20日
TOP