Friday, 2 August 2013

Attention All Active Traders: The Eagle has Landed...!

With the Bitcoin market still trading around the $104 support zone we identified back on Thursday, there is little more to say that we haven't already; if you didn't read Thursday's post yet, go do so and you'll know what to do!... and then come right back because we have something to say here that will be of interest.

Regular readers of our analysis you will know that much of it is centered on what we perceive, at the time we post, to be the underlying market sentiment; it is either bullish (buying mode), bearish (selling off) or neutral (range bound).  And by now you will also know that a trader - any trader - never wants to find himself on the wrong side of the prevailing market sentiment.

And this is all very well but until recently, aspiring active traders of bitcoin have not had a vehicle through which to express their changing view of prevailing sentiment - or profit from it - with any fidelity.  You either buy bitcoin, decide not to or sell what you hold back to fiat. Your leverage is strictly 1:1 which while workable from an investment perspective, represents a poor return when just a modicum of market analysis can put you on the right side of sentiment so often.  It also offers little hope to those aspiring to increase their bitcoin wealth if they don't have much in the way of fiat collateral to start with.

Well, we are thrilled to report that with the arrival of, this has changed.  Developed by a talented algorithmic arbitrage trader and bitcoin evangelist, is an online trading platform that allows a trader to express his or her prevailing view of bitcoin market sentiment and profit from being right to the tune of around 10:1...

Yes, you heard that right, around 10:1.


Let's put some figures on this to make it real.

If you had taken our advice back on the 24th and 27th July to buy, say, 5 bitcoin against technical support at $92 - and let's say your order was filled at $94 - you would currently be sitting on a tidy profit of $50, representing a return of around 10% for two weeks market exposure.

Had, on the other hand, you placed a trade of the equivalent size on, your profit would currently be in the order of $500, or 500%.

This is possible because at the moment of trade execution, the platform places a trade of 10 times the size on the MtGox exchange, using their own collateral.

But, there must be a downside, right? Well, no more than there is for anyone contemplating trading a leveraged product.  Five bitcoin bought outright would have to drop to zero to be, literally, worthless.  Whereas a movement in the bitcoin market of around $10 against your opening price is going to see your leveraged trade liquidated at the cost - in this example - of 5 bitcoin; will never let you lose more than you stake.

Now, margin trading isn't everyone's cup of tea and doing so on demands a trader employ exactly the same money management criteria as every other active trader on the planet, if you are to grow your capital safely over time, but when coupled with the quality of analysis offered by BitScan, it represents a truly mouthwatering prospect for traders determined to grow their bitcoin wealth regardless of the prevailing market sentiment.

Setting up an account with is simplicity itself. Submitting a username, email and password generates a confirmation email; follow the link from here and you are good to go.

No lengthy verification process, no need to divulge your inside leg measurement!  

You then fund your account with via QR code or copying their address into your e-wallet, send your bitcoins and 'hey-presto', you are ready to trade.


Beyond this, the trading platform is both straightforward and bombproof; believe us, we've tried to break it and failed.

Finally and with respect to security, holds all customer funds in a secure and segregated vault.  As we mentioned before, every trade is placed using's own collateral which is maintained at a ratio of 10:1 total customer funds at MtGox.  This means that your own bitcoin is never at risk beyond your own trading decisions.  If MtGox were to fail, close or run off with customer funds they would be's, not yours.  Secondly for to run off with your funds would be to gain 10% (total customer funds) while destroying their own reputation and business model - which is hardly a sensible strategy.

Simply put, represents the solution that active traders have been waiting for.  If you want to seriously profit from bitcoin go set up an account, follow our analysis and let it rip!