Today, the world is on the verge of great changes. The economic drawdown caused by COVID-19 could not help affecting the cryptocurrency market. Of course, all crypto enthusiasts today are interested in what to expect from the new realities. Will the economic crisis lead to an increase in the growth of bitcoin and altcoins, or will they lose the last vestige of investor confidence? Finally, is it worth waiting for a new bull run after the next halving of bitcoin?

We decided to discuss these and many other issues with one of the experts in the crypto industry - Chieh Liu, CEO of Overbit crypto exchange. Overbit is in TOP 100 list of crypto exchanges by 24h trading volume and is one of the market innovators.

1.    Mr. Liu, first of all, let us congratulate you and your team on Overbit’s recent first-year anniversary celebration. Could you share with us why Overbit was founded?

Thank you very much! Our development team and I came from a Forex background. We have observed various crypto exchanges and noticed that there is no platform designed for novice traders. The cryptocurrency industry is still in a nascent stage. Many traders coming into this space want a user-friendly platform. Having seen this gap in the market, I founded Overbit to provide an easy-to-use trading platform with a best-in-class trading experience.

2.    Overbit is positioned as a derivatives trading platform. Why have you chosen this way of trading instead of classic financial instruments?

Derivatives are the most popular instruments in the financial markets. The same can be said about crypto markets, as they are effective hedges in correspondence with their respective underlying assets. At the same time, traders’ speculations are driven by the potential of high risk, high rewards with various derivatives instruments and it was a natural decision to develop a margin trading platform.

3.    There are a lot of crypto exchanges today and sometimes the only difference they have is their names. What makes Overbit unique? Except for derivatives trading, of course.

Overbit provides a user-friendly platform for traders of all skill levels with only one derivative focus - perpetual swap. We want to ease unnecessary functions and noise for traders to place their orders with confidence on our platform. New signups get 8 virtual BTC in demo trading to practice trades and strategies before progressing to trading on the live platform.

4.    Centralised exchanges are usually considered as not safe enough. We know that Overbit has partnered with Coinfirm, a well-known regtech global leader. Is it somehow connected with security questions?

According to the Chainalysis 2020 Crypto Crime Report, there was $2.8 billion worth of Bitcoin that moved from criminal entities to exchanges in 2019.

Cryptocurrency has always been a popular asset for illicit activities, and it is our duty to raise the bar in addressing AML compliance to the highest standard. Overbit’s top priority is the security of client assets. By adhering to AML compliance we are keeping away bad actors from the platform.

5.    Without a doubt, taking into consideration the growth of Bitcoin in 2019, the first year of operation of your platform was successful. Now the market situation has changed. Are you beginning to feel that we are entering a bear market due to the fall in price of Bitcoin and altcoins?

The impact of COVID-19 has affected many people’s working patterns and daily routines, and that makes the financial markets move rapidly. Although the crypto market has been bearish for a few days as I am responding to this, the long/short ratio of BTC/USD on Overbit’s platform is quite balanced. Unlike traditional markets, where some “At Home” stocks like Zoom and Amazon are relatively easy to speculate, Bitcoin and other cryptocurrencies are not directly influenced by a shift in peoples’ behaviour. They are as volatile as usual, yet the impact of COVID-19 did shift traders’ strategies.

6.    The world entered the phase of a new economic recession. Some crypto enthusiasts including famous billionaire Michael Novogratz believe that Bitcoin can be a safe haven asset like gold. What are your thoughts on this?

Bitcoin has a high potential to be a safe haven asset, and even better than gold. Bitcoin's scarcity is written in its whitepaper, whereas gold is ambiguous. Some studies have found that gold’s scarcity may be somewhat of a falsehood. On the other hand, fragility and trust issues with current financial systems enhance Bitcoin’s potential. The Fed’s intervention may alleviate the U.S. economic crisis, but only for a short period of time.

7.    And the last question. The upcoming Bitcoin halving is happening soon. What are your recommendations for traders? Do you have any predictions about the price of Bitcoin?

Bitcoin halving is a widely discussed topic. Logically speaking, halving makes miner rewards less, which should push up the price of Bitcoin. However, with the increasing presence of margin trading platforms, markets are being driven by large margin positions which is having a much larger than anticipated impact on the Bitcoin price. Therefore, when it comes to halving, I can see two scenarios, a fight between bulls and bears on margin trading platforms and a fight of survival of the fittest among Bitcoin miners. In other words, instead of a doubling Bitcoin price, we could see a near halving in the number of Bitcoin miners. Certainly, the smaller ones who won’t be able to survive will have to close shop.


Mr. Liu thank you for such an informative conversation. We hope that the current situation will become the impulse for the crypto industry that we have been waiting for so long.

As a reference, dear readers, we offer you to read a brief information about Overbit exchange and its CEO, Chieh Liu.


About Overbit CEO, Chieh Liu

Chieh Liu developed a strong interest in blockchain and cryptocurrency while he was studying computer science at California State Polytechnic University in 2011.

After graduating, he worked as an advisor for several financial investment firms across several Asian markets for almost a decade. As an avid forex and crypto trader, Chieh realised that there was a gap when it came to trading across the various financial markets.

Chieh founded Overbit in 2017 and launched it in 2019 to become the world’s first cross-market trading platform.

To learn more about Chieh Liu, visit his social media profile here:

LinkedIn: https://www.linkedin.com/in/chieh-liu-07290b157

Twitter: https://twitter.com/cl_overbit


About Overbit

Overbit is a leading online Bitcoin margin trading platform.

Overbit was founded in 2017 and launched in 2019 by Chieh Liu and a team of experienced traders and engineers. Through Overbit’s secure and user-friendly trading platform, traders can buy/long and sell/short cryptocurrencies, forex and metals using Bitcoin as an underlying asset.

Overbit offers one of the most attractive, fast and flexible margin trading options on the market allowing users to trade with up to 100X leverage on crypto and up to 500X leverage for forex.