What a first quarter it has been for oil! Along with most traditional markets spiking with volatility, oil has fallen to multi-year lows now following recent refusals by Russia And Saudi Arabia, both major oil producers, to comply with restrictions set by the OPEC oil cartel.

With the glut of supply that followed, compounded by a global economic slowdown as factories and travel ground to a near halt with multiple lockdowns instated after a declaration of a global Covid-19 pandemic, price crashed for Crude Oil to about $20, sending shivers of fear throughout the world.

Oil and Ethereum shatter 24-hour percentage gain record

Yet, after United States President Donald Trump Tweeted that he had direct dialogs with both Russian President Vladimir Putin and Crown Prince of Saudi Arabia Mohammed bin Salman, indicating that the two oil giants could agree to cut production significantly, the commodity enjoyed its single best day of gains.

Trump’s suggestion that they could cut up to 10 million barrels of oil or “maybe substantially more” as part of a balancing strategy, WTI crude posted a 24.67% to top historical charts as the biggest percentage gain in one day, while global benchmark Brent surged 17.8% (CNBC).

Of course, overall, price has still not recovered from its drastic losses of 60% this year, but the tide could be fast-changing, as prices continue a steep recovery trajectory.

Similarly, just yesterday on April 6th, Ether recorded over 20% gains in 24 hours, smashing its own records for biggest gains in a single day period.

Covid-19 and Global Recession Combine for High Volatility to Global Markets

Black gold isn’t the only traditional commodity experiencing historic highs in volatility, with major stock markets all over the world bleeding out as traders liquidate and dig in for what is expected to be a major global recession that will outmatch the Great Depression of 2008/2009.

The Dow Jones Industrial Average weeks ago saw their biggest loss since 1987, making 2008 losses look minor, while precious metal markets experienced devastating crashes not many thought possible in safe-haven assets. While gold has staved off the worse, silver gave up an entire decade’s worth of gains.

Even alternative assets like Bitcoin followed oil into the history books, declining almost 60% in a single day, showing that no market and no asset stood safe in the face of global panic and selloffs.

As Investors Dig Trenches, Traders Are Smelling Blood

The world is now witnessing a global recession the likes of which living memory has not seen, and with the coronavirus threatening to keep lockdown in effect for many more months, volatility will be the name of the game for a while.

Investors will be keen to liquidate, keeping cash in hand but triggering a domino effect of deepening liquidity concerns and volatility. But this presents the perfect opportunity for traders, as volatility means high potential for profit in such short times.

Sudden spikes can put the well-timed long well into double-digit profits, while anticipating drastic dips are opportune short moments, before re-entering at the perfect buying opportunities.

The savvy oil trader would, for example, have shorted to see 60% price declines in one quarter, but identifying the bottom to re-up on oil just as it pushes 24% gains in 24 hours. Or the 10% swings Bitcoin experienced almost daily in the days following Black Thursday — if a trader bought at every day’s low and sold at the high just 7 days continuously, it would be a week only to double on capital.

Grow Your Capital Faster with Higher Market Volatility With the PrimeXBT Trading Platform

Veteran trader, Sunday trader, daily scalper or remote freelancer, day trading could be the right choice for you, especially in this window of opportunity where every day is sure to present a chance for profit.

But to do that, you need the right platform, able to execute the orders you want, in the blink of an eye, while protecting your funds with state-of-the-art security. This is exactly the experience of traders at PrimeXBT, who have found the platform suited to their needs in this volatile market.

Go long or short across stocks, commodities, forex, or crypto. Small capital? No problem. PrimeXBT lets you trade up to 1000x leverage, allowing you to access more with less.

With a suite of risk management tools like stop-loss orders and built-in charting, building yourself a strong and robust portfolio of diversified assets is easy and fast. 

For experienced traders who want even more, PrimeXBT’s lightning-fast trading tool Turbo gives you access to synthetic Bitcoin contracts that can yield up to 90% profit in a mere 30 seconds.

Ever ahead of the curve, PrimeXBT’s newest tool, the Covesting Fund Management Module beta, is your professional fund builder that lets members of the public rate you so other investors can buy into your fund. This way, investors profit from strategies they like, while managers simply earn a share of the funds invested. 

There is only one platform that gives you all of these benefits in one place, and that is PrimeXBT. Forget separate accounts at any of the so-called big players like BitMEX or Binance. Do it all in one place, the place designed to take advantage of today’s volatility.

Register and enjoy PrimeXBT, with registration under a minute, intuitive user interface, and professional tools.

 

PrimeXBT is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

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