CryptoExplorers says
Dario, the founder of Bridgewater Fund, wrote a long article on Bitcoin. This article is similar to the previous ones. The main idea has not changed much. The main things are:
• Bitcoin is a great invention, which has overturned the existing monetary system and has now become a digital asset that can replace gold;
• Due to the fixed attributes of Bitcoin, it is destined to be unable to evolve, will be replaced in the future, and will eventually be eliminated;
• Bitcoin is currently working well, but it does not mean that it will not be hacked or destroyed by the network in the future;
• From historical experience, from the perspective of zf, it is impossible to accept bitcoin or gold beyond the money and credit they provide. Therefore, once bitcoin is successful, zf will not hesitate to strangle him;
• He still believes that Bitcoin is an option, hoping that it can become a digital gold, and use a small position to gain big profits;
• The three most prominent challenges of Bitcoin: high volatility, regulatory risks, and insufficient liquidity (for traditional institutions);
• Bitcoin will receive more attention when global central banks issue additional fiat currencies;
• Bitcoin is easy to carry, circulates around the world, and can become a value-preserving asset;
• It is not yet certain that Bitcoin is a diversified investment choice;
• Volatility and regulatory uncertainty slow down institutions' acceptance of Bitcoin;
• Bitcoin has a bubble risk, but the bubble can last for a long time;
• Institutional participation is still not high at present, most of which are hedge funds and family trusts rather than larger traditional institutional investors;
• For now, Bitcoin is still a potential wealth storage option.
Dario wrote a lot, the central meaning is that there are still great uncertainties in the future, such as quantum technology, policy supervision, hacking, etc., but for now, it is still a good choice. Due to these uncertainties, we are not optimistic about the long future, but it is still a good investment choice in recent years.
CryptoExplorers thinks that he has two more important things here. One is that if it succeeds in the future, zf will spare no effort to kill him. It is right to think about it. If Bitcoin really touches the cake of major countries in the world and is strangled by the global alliance, I am afraid it will be a super catastrophe. The second is that he said that the participation of traditional institutional investors is not high, which shows the future potential of Bitcoin. When the market value stands at trillions of dollars, it will get more attention from traditional investment institutions. Once they come in, Bitcoin will continue It is actually not difficult to increase by 2-3 times.
Dario also said yesterday evening that tax changes in the United States and other countries may be more shocking than expected. Suddenly saying this must be due to a reason. Taxation will raise the threshold for funds to enter the Bitcoin or gold field, which is bad news.
Some people say that Bitcoin has no value, but the founder of Oaktree Capital put it in place. He said that Bitcoin is the same as other currencies. It is valuable if someone is willing to exchange it. If the US dollar and the British pound are valuable, Bitcoin should be valuable. The madman sums it up, Bitcoin's consensus is its intrinsic value, and people think he is valuable, he is valuable.
NYDIG CEO said that we are on the verge of large-scale Bitcoin popularization. Starting next week, we will see some company milestones that will completely change the rules of the game. He said that these announcements will gain Bitcoin in the existing traditional financial structure. Adoption and service. This is a bit fierce, so that some madmen don't dare to think too much about the time for market adjustment.
The CEO of VISA also said that cryptocurrencies will become extremely mainstream in the next 5 years. He believes that Bitcoin is the successor to gold, and said that VISA is working hard to be allowed to buy Bitcoin and is committed to seamless conversion through Bitcoin. legal tender. If the idea of VISA is successful, it means that all bank cards with the VISA logo have the opportunity to exchange seamlessly with Bitcoin. It is really exciting to think about it. Combined with the above NYDIG boss, it might really be next week. What appears to be super positive.
The MVRV indicator fell to 0.88. Historical data shows that the indicator falling below 1 is generally a buying opportunity. Is it possible that Bitcoin is all adjusted?
South Korean blockchain media Coinness ranks second in the news category of the APP Store. This download volume can show how crazy investors in the Korean currency circle are.
According to data from Arcane, short-term Bitcoin supply has continued to decrease in the past 10 months, and long-term holders have been increasing. This can show that the bull market is still in place, and these long-term investors will support the further rise of currency prices in the future.
Pantera Capital CEO said that according to the inventory-flow model calculation, Bitcoin will reach 115,000 US dollars in the summer. The big guys are unanimously optimistic about Bitcoin, which shakes the CryptoExplorers judgment of monthly level adjustment.
Fidelity executives also said that Bitcoin is attracting core customers in the banking industry, and banks are considering developing asset management businesses in this area. There will still be a steady stream of investors who can enter the market in the future.
The U.S. 10-year Treasury bond yield has risen above 1.6 again. Powell will hold a press conference at 2:30 this morning to see if the U.S. Treasury yield will be mentioned. If it is not mentioned, it will be negative for Bitcoin in the short term. To implement corrections to U.S. bond yields will benefit all risk assets.
Grayscale’s ETHE premium rate has also turned negative. On the whole, Grayscale has been a bit cooler recently. Continued negative premiums will cause Grayscale to fall into a death spiral, that is, the unlocked trust shares continue to hit the GBTC and ETHE markets, resulting in continued discount rates Increase, due to the huge discount, no investors will invest in cryptocurrency through Grayscale, and then the discount will increase further, and so on. At present, it belongs to the key node of the gray scale. If it is not done properly, it will go back and forth like a capital collapse.
The Office of the Comptroller of the Currency has completely ruled out the nomination of former Ripple board members, and the new candidate is a Bitcoin skeptic. When we finally take office, let’s look at it. It certainly does not belong to the category of good news.
Market analysis
Bitcoin:
Although there are many potential positives on the news, it feels that there will be a new batch of buyers in the United States, but from the disk, there is still no way to judge the completion of the adjustment. From the 1-hour chart, the market is extremely weak. Yes, according to the past trend, the green line is relatively strong. Now this kind of consolidation without a rebound means that there is a high probability that a new low will occur. Therefore, continue to wait patiently and support 51000. , 47500.
ETH:
Yesterday it made up for the increase, but today it is relatively weak and does not participate.
DOT:
High shocks, the general situation is uncertain, temporarily not participating.
XRP:
The US federal judge rejected Ripple investors to intervene in the SEC's litigation. After Ripple pulses, it should go back and forth. Do not participate.
LINK:
The trend is uncertain, don't participate.
ADA:
I was given it by Coinbase and sprayed it. The short-term positive probability will not change the medium- and long-term trend, so the probability of market outlook is still not small.
XMR:
Concussion is the main factor, and he tends to be relatively defensive.
FIL:
If you haven't broken the 5-day line, you can still hold it. After all, it is an independent market, and there is no pressure on it.
MDX:
It is claimed that the transaction volume exceeds UNI, but it is useless. A platform with extremely low handling fees and a platform with sky-high handling fees are completely different in frequency than the transaction volume, and it is not promising in the medium and long term.
UNI:
A new version will be released. The overall focus is still on lightening.
SUSHI:
Callback-based.
The biggest feature of retail investors is that they like to buy small coins, buy them, they also like to chase high, chase after, and they are not willing to go. Finally, they cut down and asked the madman what to do. Can advise you to stop the loss as soon as possible. One thing I repeatedly emphasized a few days ago is that if you get caught, you must stop the loss. Now look back, is it extremely correct?
That's it for today, see you tomorrow
