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Digital Currency Revolution Series: Crypto Arbitrage Opportunity For The Day
As the cryptocurrency avenue shows the spark of bullish pressure from the recent past, pricing disparities at different exchanges offer the luring arbitrage opportunities to exploit. As the potential yields may vary from exchange to exchange, Bitcoin and its peer group and counterparts have spiked off considerably since the beginning of this year, the previous bullish momentum has regained.
Bitcoin has gained on the short-term price charts as bulls managed to take control over the market again. At 21-DMA levels, Bitcoin is attempting to show strength in rallies, it seems that bulls have resumed to over the uptrend again, spiked from $10,118 to current $10,557 levels while articulating.
Well, the trading at different exchange could fetch us handsome returns owing to the pricing differences.
BTCUSD at Bitfinex and BTCUSD at Bittrex: Please be noted that the BTC pricing against the dollar at the same two different exchanges, BTCUSD at Bitfinex and BTCUSD at Bittrex. There exists a disparity in their respective prices $10,515 at Bitfinex and $10,460 at Bittrex. Thereby, buying Bitcoin on the Bittrex exchange with USD and transferring the bitcoin and converting it back into USD on Bitfinex likely to derive a profit of just over 0.525%.
Well, overall Bitcoin arbitrage is an opportunistic method of buying Bitcoins on one trading platform and selling them at another, where the price is higher. One can take the benefit of the price differentials existing in different exchanges.