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FxWirePro: Crypto arbitrage opportunity for the day
The pioneer cryptocurrency (BTC) and its peers have surged by more than 110% in H1 of 2019. The May month has been a remarkable trading session for bulls as it established a year-to-date high of $9,090 mark. The prices have corrected a bit later on by sliding more than $1,000.
Amid such volatility, the cryptocurrency avenue shows a spark of bullish pressure from the recent past, pricing disparities at the various exchanges offer to lure arbitrage opportunities to exploit, this could be because of various reasons.
But as the trader or a scalper seeks the potential yields that should vary from exchange to exchange, well, the triangular trading options could fetch us a handsome sum of returns, the following instances would bring-in such opportunities 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 $8,140 at Bitfinex and $8,156 at Bittrex. Thereby, buying Bitcoin on the Bitfinex exchange with USD and transferring the bitcoin and converting it back into USD on Bittrex likely to derive a profit of just over 0.20%.
XRPUSD at Bitfinex and XRPUSD at Bittrex:
As you could observe the XRP pricing against the dollar at two different exchanges, namely, XRPUSD at Bitfinex and XRPUSD at Bittrex. Please be noted that the existence of a disparity in their respective prices 0.39977 at Bitfinex and 0.40060 at Bittrex. Buying XRP on the Bittrex exchange with USD and transferring the same and translating it back into USD on Bitfinex allows us to derive considerable returns, Likewise, ETH also renders similar results. 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 0.50%.
Same has been the case with ETHUSD at Bitfinex and ETHUSD at Bittrex:
ETHUSD on Bitfinex and ETHUSD on Bittrex is at $260.50 and $258.9890 respectively (while articulating). Thus, procuring Ethereum on the Bittrex exchange using USD and transferring the same and converting it back to USD on Bitfinex would lead to a profit of just over 0.60%.
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.
Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 123 levels (which is highly bullish), and hourly USD spot index has bearish index is creeping at 144 (highly bullish) while articulating (at 14:03 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex