CryptoExplorers says
Following the interest rate hikes by the central banks of Brazil, Russia, and Turkey, another central bank has joined the liquidity tightening camp. This is the Bank of Japan next door. Due to the excessive liquidity of the US dollar, inflation expectations have risen sharply, and countries around the world, especially emerging countries, have begun to prevent inflation. Therefore, they have taken the lead in tightening liquidity to prevent the US from diluting national wealth. This evasion will cause most of the world’s stock markets to fall. Bitcoin is also very negative, so there will be some changes in the future macro level, and the certainty is different from before. From this point of view, we should turn from optimism to cautious optimism.
Fortunately, even though the external market is not optimistic, Bitcoin is still very resilient. Today’s rise again comes from Musk. Tesla officially announced that Bitcoin can be used to buy cars on the US official website. It also stated that all The bitcoins received from buying a car will store value and will not go to the market for cash. Affected by this news, Bitcoin has risen in a straight line, but if you think about it carefully, it is actually not a super good thing. After all, many big car dealers have already supported Bitcoin payment before, and Tesla’s payment method is only in the United States. At home, it is impossible for other countries, especially China, the largest consumer country, to open up this approach. The actual impact on Bitcoin is limited, and more is the short-term impact of news. Similarly, when the Bitcoin ETF is approved by the US SEC in the future, it can be expected to have a wave of fierceness, but the actual impact at that time will also be limited, because many countries around the world already have the Bitcoin ETF as an investment tool.
The search volume of Google NFT has caught up with the search volume of ICO at the end of 2017. It can be seen that the bubble is already very large. CCTV also reported on the high price of the first Twitter NFT auctioned by the Twitter CEO, which is also a good indicator.
A subsidiary of Silvergate Bank announced that Coinbase will become its Bitcoin custody company and provide Bitcoin USD mortgage loans. In other words, now that we hold Bitcoin, we can mortgage some asset management companies in the United States to get dollar loans. The U.S. dollar is the global currency. Bitcoin has become a currency to some extent, isn't it? Seeing that many people in China still believe that Bitcoin is a Ponzi scheme and a game of spreading flowers through drums, this kind of perception is really hard to imagine.
The number of bitcoins held by the exchange fell to a record low of only 2.31 million, all of which were bought by institutions and out of stock. At the same time, the reserve risk of Bitcoin is at a relatively low level, currently only 0.008, which is still far behind the top 0.02 of the previous bull market, indicating that people still have confidence in Bitcoin prices. These are all proofs that we are still in a bull market. Yesterday, 14,666 bitcoins were transferred from Coinbase, which is suspected to be a bottom hunter for institutions.
Grayscale still didn't buy anything, and the discount continues to expand, which is expected to continue. Therefore, the time after the US stock market opens is not good for Bitcoin.
Coinbase has three new coins; CRV, STORJ, and ANKR. Among them, STORJ is an old storage coin, and the imagination is relatively poor.
Crypto exchange Crypto.com enters NFT! The new platform will debut this Friday. Those who are interested in this section can pay attention.
Crypto currency exchange Crypto.com announced yesterday that it will launch an NFT platform on March 26 (this Friday), which will contain exclusive works from well-known artists, musicians and brands. The new platform allows fans to purchase scarce digital collectibles certified by the blockchain, and anyone (not just Crypto.com users) can purchase, trade, and resell NFTs. Crypto.com’s list of NFT artists includes rappers Snoop Dogg, Boy George, Axel Mansoor, crypto artist Klarens Malluta, Brainwash, and book publisher OPUS. Before Crypto.com entered the NFT, the demand and value of encrypted art and collectibles surged. In February alone, the transaction volume of the three NFT exchanges reached 342 million U.S. dollars, which is more than the total in 2020. Joe Conyers III, former chief strategy officer of New York City Music Holdings (Downtown Music Holdings), has joined Crypto.com as its executive vice president and global head of NFT.
Some works by famous artists and musicians will be released on March 26. The platform allows users to pay with more than 20 cryptocurrencies, including Bitcoin, Ethereum and Dogecoin. The entry of famous people into the crypto space is not always a bullish indicator. Although rappers Snoop Dogg and Gene Simmons may have pushed the price of Dogecoin to a record high last month, when actress Lindsay Lohan posted on Twitter that Bitcoin, a crypto asset, would "go to the moon." The price does not seem to be affected. Crypto.com co-founder and CEO Kris Marszale said that his goal is to increase the number of users on the platform from the current 10 million to more than 100 million by 2023.
Market analysis
Bitcoin:
When we met today, 53000 was not broken again. This is the last sentence of the madman yesterday. However, there is currently no breakthrough at 57,000, so it is not easy to go long. The CryptoExplorers believes that Bitcoin, which is pulled up by the positive impact, may not be sustainable. If it fails to stand at 57,000 today, the probability of a callback in the market outlook is still relatively high.
ETH:
The increase obviously did not keep up with Bitcoin, indicating that the rise of Bitcoin was caused by positive, not the normal trend of the market. Therefore, the overall situation is still weak and linked to Bitcoin. You can refer to the key points of Bitcoin 57000 and wait patiently.
DOT:
There is a rebound at the support level, which is a high-level box shock market.
LINK:
Today’s rebound is weak, and there is still room for a fall.
LTC:
The rebound is relatively large, but not very sustainable.
BSV:
If it doesn't spray, it will be very difficult if it won't be on tomorrow.
ADA:
There may be a small rebound in the short term, but it is difficult to form a reversal. The backstreet boy came to nurse him, but it was useless, he was out of breath.
EOS:
It's about to choose the direction, the probability of up and down is 50%.
FIL:
Yesterday, the closing line went well, and it is expected to continue to rise gradually.
UNI:
V3 did not come out as expected and did not solve any essential problems. Most of the optimizations were user experience, which may lead to continuous decline.
CFX:
Rising high, nothing to say, the trend is quite healthy, just hold it along the 5-day line.
The whole is still standing still, waiting for opportunities in half a position.
That's it for today, see you tomorrow.
