CryptoExplorers says
Coinbase performed well on the first day of listing. The closing price was US$328.28, which closed up 31.31%. The market value was US$86 billion, the turnover was US$30 billion, and the turnover rate was as high as 70%. This shows how popular it is in the US stock market. The founder of Ark bought 250 million US dollars of stock on the first day of listing on COIN, and the FTX founder's explosive head predicted that the closing price of Coinbase on Friday might reach 150 billion US dollars. In short, people in the crypto field are united to celebrate Coinbase. It is generally believed that the listing of Coinbase has opened a new chapter for the currency circle and is the real leader in the industry. In the past two days, Coinbase executives also said a lot. On the one hand, they talked about the future development path of Coinbase to encourage shareholders, and on the other hand, they thanked Satoshi Nakamoto for the creation of Bitcoin. In fact, we all have to thank Satoshi Nakamoto. Without him, there would be no us. The madman also borrowed the words of Coinbase co-creating Fred, and sincerely thanked the brother Ben Satoshi who had never met before!
At present, hundreds of funds in the United States have invested in the crypto industry indirectly, and they have obtained the benefits of rising cryptocurrencies by holding positions in MicroStrategy, Square, Tesla and other stocks. After Coinbase is listed this time, more funds will participate in the investment in the crypto industry. But the CryptoExplorers also thought of a problem. This kind of investment is essentially sucking away the funds belonging to Bitcoin. In other words, the rise of Bitcoin will drive these companies to rise, but in turn, the rise of these companies cannot drive them. The rise of Bitcoin is supposed to be good for Bitcoin's funds, but because of this method of curve to save the country, in fact, these companies have absorbed the energy of Bitcoin to supplement their own bodies, which is really not a good thing. If the Bitcoin ETF is passed, these problems will be solved, and look forward to the early adoption of the ETF.
The ETF on the US side has not yet approved, and the reverse ETF on the Canadian side is already going to be listed, that is, by buying the Bitcoin ETF, you can short Bitcoin to make money. This ETF will be listed in Canada tonight. Convenience for investors of currency. It is a small negative in the short term, but in the long term it is a sign of a more mature market.
The report shows that compared with the previous bull market, after Bitcoin broke through $63,000, long-term holders are less willing to sell Bitcoin, and the amount of Bitcoin flowing to the OTC platform has reached a new low since August last year, indicating that traders continue to hold Bitcoin Currency, not for sale. This is a good support for Bitcoin to continue its upward trend.
Paypal CEO said that in a few months or even less, the cryptocurrency transaction volume on Paypal may reach 200 million U.S. dollars. He believes that cryptocurrencies have broad prospects and can improve payment utility. More and more companies support cryptocurrency payments. For example, insurance giant AXA now allows users to pay insurance premiums in Bitcoin, and Acker, the world's largest wine auction house, accepts cryptocurrency payments. Every day there are giants accepting this new approach, and it is clear that the crypto world will become a part of the future world.
Tether printed US$2 billion yesterday, from 50 million to 100 million to 500 million to 1 billion. Now it is 2 billion US dollars in one breath, which shows that the inflow of funds is accelerating.
Fed Chairman Powell said that the Fed believes that crypto assets are speculative tools and are not actively used as payment, but are a kind of speculative product like gold. Of course, the Fed cannot admit that a privately-sponsored currency has challenged the status of the US dollar. Future suppression and supervision are almost inevitable. This is one of the catastrophes that Bitcoin wants to go to a higher position.
The U.S. Senate confirmed Gary Gensler as the chairman of the SEC. This is very friendly to future regulatory policies. After all, Gary has always been a supporter of the encryption field and looks forward to the regulatory attitude of the new chairman after he takes office.
The 10057 bitcoins stolen in 2016 were transferred. The hacker was really calm. After taking it for so long, he started to move and was ready to cash out. In addition, the data on the chain detected multiple large bitcoin moves. , Which shows that the selling pressure in the 65000 area still exists.
The total scale of Grayscale assets exceeded US$50 billion. Although there has been no influx of new funds, the continuous increase in currency prices has continued to increase the scale of funds. This is the power of choice. You can make money while lying down. The founder of Grayscale believes that privacy coins will become a new investment theme in the future. The CryptoExplorers believes that he is considering this issue from a regulatory perspective. Privacy coins will have a place in the future. You can configure some privacy tokens in asset allocation. . The discount of GBTC expanded to -13.97% again, and ETHE also changed from positive to negative -7.35% again, indicating that the selling pressure is still very large. At least it can be seen that investors are worried about the future of gray products.
Market analysis
Bitcoin:
It can be seen from the volume of the new historical highs in the past two days that the market still has some selling pressure, and the strength of the bulls is not as strong as imagined. The market may have a wave of corrections due to this. At present, there are two stronger ones. The support of the company is 60,000 and 51,000. The probability of directly reaching a new high in the short term is decreasing. Therefore, the overall position is mainly to wait for the opportunity to cover the position.
ETH:
The Berlin upgrade is underway. Under this expectation, the price of the currency is clearly showing a strong momentum, and it is the main thing that you can continue to hold it if it does not break the 5-day line.
DOT:
High shocks, it takes some patience to break through.
XRP:
Still did not break below the 5-day line, continue to hold the main.
LINK:
You can participate in the battle method on the 5th line and hold it without breaking below the 5th line.
BCH:
At present, there is only one domestic project that is still in the top 20, which is really not easy. If it doesn't break down in a short time, take it first.
LTC:
The continued upward momentum weakened, but did not break below the 5-day line to hold first.
BSV:
The rise has liberated all recent hold-ups. If it can be horizontal for 1-2 days, there is a chance to make a new high.
ADA:
Digest the chips near the new high, and if you can resist, there is still a chance.
XMR:
Concussion upward.
DASH:
The relatively weak ones in anonymous coins have certain opportunities to make up for the increase.
ZEC:
Hold along the 5th line, short-lived anonymous leader. The three anonymous coins have their own advantages, so no one has become the leader.
DOGE:
Waiting for the 5th line to move, there is still a chance, but yesterday's increase was too large, it takes time to digest.
UNI:
Stronger than expected, there will generally be new highs.
Bitcoin's market value did not rebound when it was time to rebound. This accelerated dance of demons is not friendly to the medium-term trend. Therefore, we will fight and watch, and consider leaving the battlefield quickly at any time.
That's it for today, see you tomorrow.
