HomeHow to Trade Tesla and Bitcoin

How to Trade Tesla and Bitcoin

Bitcoin investors are almost certainly feeling quite pleased with themselves today. Investors
in Tesla stock have also likely been reaping the benefits of their smart decision-taking. And
those who’ve invested in both assets? Well, they sure have a good enough reason to feel
smug.

It’s a match made in trading heaven. The two assets – Bitcoin and Tesla – have been
dominating the markets lately, with their price value skyrocketing higher than ever before.
Arguably, the two assets have been shaking up the traditional trading landscape for months,
years even. But while both Bitcoin and Tesla could have previously been dismissed as
‘trendy’ trades with volatile tendencies – it’s safe to say that they have proved critics wrong.
Now, Tesla – the bright, buzzy electric vehicle company headed by CEO Elon Musk – has
taken the decision to invest $1.5 billion in the digital currency and will reportedly be
accepting BTC payments for its products in the near future. The result? Bitcoin’s price
climbed up to almost $50,000.

While both assets had a remarkable 2020, with Tesla’s share price increasing over 700% and
Bitcoin jumping from $10k to over $40k in a matter of weeks, the future seems bright for
traders and investors. But what else do these two assets have in common other than a wild
bull run? Tesla and Bitcoin represent a shift in society and the way we live – how we
conduct our finances, how we manage our wealth and how we think about transportation.
Meanwhile, Bitcoin continued its bull run as the US Dollar slipped again amid criticism of a
loose monetary and fiscal policy. The popular cryptocurrency, however, fell short of the
$50k mark, dropping by around $3,000 instead. This decline came as a surprise to many who
expected the asset to break the resistance level, but traders are not too concerned.

Tips for Trading Bitcoin and Tesla Stock

Learning how to read market charts and apply technical analysis indicators to get a better
understanding of price movements is indispensable for traders, especially when trading
assets that are more prone to volatility. Breakout patterns, pullbacks and reversals are not
always easy to spot, but being prepared can help traders stay a step ahead of the rest.

If you’re ready to start trading Tesla Stock and Bitcoin but are not sure where to begin, here
are our top 3 tips to help you gain confidence:

1. Practice on a Demo Account – If you want to learn to trade, practice strategy, apply
indicators or test out new markets – a demo account is the way to go. You’ll be able
to practice risk-free in real-time market conditions using dummy funds.

2. Follow the News – Although technical analysis and fundamental analysis are two
separate schools of thought, combining the two can prove highly beneficial when
trading assets that are often in the news.

3. Use Leverage to your Advantage – One of the many benefits of trading CFDs on
stocks and cryptocurrencies is the ability to apply leverage to your trades. This allows
you to maximize your profits without having to deposit more funds. The higher the
leverage, the higher the reward!

Don’t miss out on trading Bitcoin and Tesla stocks. With the revolutionary online broker
LonghornFX, you can open both long and short positions on all your favourite assets, with
up to 1:500 leverage, through a single platform. Open a free account today at LonghornFX!

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