CryptoExplorers says
07/05/2021
People who speculate in coins in this world are already crazy. Many people who have experienced the bull market in 2017 know that this kind of feeling is familiar, but for those who chase high, they are more investors who have just entered this year. Being brave and not afraid of risks is the label on them, so no matter how the price of the currency rises, they will blindly chase higher. In the end, what awaits them will be the education of the market. Every newcomer has to go through this process and then understand The importance of avoiding risks, we do not need to pursue maximization of profits, but to pursue constant and stable profits.
The Fed again mentioned inflation expectations yesterday, expressing the hope that both inflation expectations and inflation will rise, which means that it will continue to be accommodative for a period of time in the future. So the mood of US FOMO (buy for fear of missing out) will intensify.
The number of stablecoins in centralized exchanges hit a record high, but the inflow of Bitcoin is also continuing to pick up, indicating that the number of people who want to do more and those who want to ship are growing, which means that the turbulent environment of Bitcoin is difficult to change.
The CEO of JPMorgan Chase stated that regulators should pay close attention to cryptocurrencies, and beware of the fact that the cryptocurrency market becomes too large to be tamed, and hopes that regulators will step up the development of a legal and taxation regulatory framework. At the same time, the chairman of the US Securities and Exchange Commission also believes that there are regulatory loopholes in crypto exchanges, leaving traders unprotected, and urges supervision as soon as possible. The US regulatory voice is getting stronger and stronger, which may become the fuse for the short-term correction of cryptocurrencies in the future.
Cash APP generated US$3.51 billion in revenue and US$7,500 in profits through cryptocurrency in the first quarter, an increase of approximately 11 times from the previous year. The crypto world is bringing endless wealth to people. But don't forget the risks, as Musk suggested in Twitter today: "Cryptocurrencies are promising, but please invest with caution."
The governor of the Bank of England believes that cryptocurrency has no intrinsic value, and participation needs to be prepared to lose all the money. Also in the UK, Citibank plans to launch a cryptocurrency service in view of the interests of its customers. This kind of thing is very blockchain, the upper level thinks it is useless, but the people at the lower level embrace it very happily, driven by bottom-up.
Goldman Sachs launched a new Bitcoin derivative product to Wall Street investors. This product is linked to Bitcoin but can be settled in U.S. dollars. This lowers the barriers to participation for more institutional investors, pave the way, and help more in the future. Institutions get involved.
The world's top auction house Phillips announced that it accepts Bitcoin and Ethereum as payment, and the listed auto insurance company Metromile accepts Bitcoin as payment. More large multinational companies are participating in this movement.
PaypalCFO stated that it currently has no plans to invest the company's cash in cryptocurrencies, but will not refuse to invest in this asset when cryptocurrencies become more stable in the next few years. In fact, people don't need to invest, as long as the payment channel of cryptocurrency is opened up, the handling fee (currency) will naturally be put into the pocket, why buy it yourself?
VanEck's cryptocurrency ETF has been listed on London and Deutsche Stock Exchange. This company applies for ETFs all over the world, casting nets, and making money wherever it can succeed. In the future, this global economy will be urged by blockchain technology. Continue to accelerate.
The grayscale GBTC discount is -15.92%, and the ETHE discount is -3.39%. The selling pressure continues, which is not a good thing.
The share of BTC's market value fell to 43.1%, another recent low. This is a signal that some mainstream currencies are accelerating to catch up. Pay attention to risks.
The latest data from Coinbase shows that illegal cryptocurrency activities only account for less than 1% of all transactions, indicating that Yellen, Buffett and others have wrong views on cryptocurrencies. In fact, they don’t have much to learn about new things. Inherent thinking to treat the currency circle.
Market analysis
Bitcoin:
The turbulent situation of Bitcoin has not changed. There is a clear shortage of funds in the market now. Each coin is fighting on its own and there is no correlation at all. Some coins are pulling wildly, and some coins are not moving. Half of it is iceberg and half of flame. Bitcoin currently does not see the phenomenon of capital intervention, it is still in a large box shock, and the opportunity to make money is not obvious.
ETH:
Mavericks boss Cuban said that "Ethereum has officially entered deflation and can rise to an infinitely high level. At the same time, it said that the cold winter of cryptocurrency will not come, but the risk of Bitcoin is greater than that of Ethereum." This is a full embrace of Ethereum. At present, the trend of Ethereum is still there, so let's hold it patiently.
DOT:
According to the logic of speculating for those who have not been speculated, Polkadot is expected to be speculated for another round. He has been in a turbulent phase for the past three months, and he should be the one who made up for the increase in the end.
XRP:
The report in the first quarter showed that XRP sold a total of US$150 million and sales increased by 97%, but the currency price trend fell short of expectations, and the market entered a volatile market in the short term.
LINK:
Hold temporarily without breaking the 5-day line.
BCH:
The 5th line has not been broken yet, and you can take another one, but I personally think that it will be more difficult to continue a sharp upward attack in the short term, and it will be the main shock.
LTC:
The trend is OK, continue to hold.
BSV:
It takes 1-2 days to toss at the double top, and the overall upward trend has not changed.
ADA:
Continue to hold the main.
EOS:
Heavy volume stagflation, short-term callback expectations.
TRX:
Complementing the gains, the trend looks weaker than EOS.
XMR:
It has accelerated to a new high again. If you continue to accelerate tomorrow, you can consider reducing it.
DASH:
Hold on the 5th line.
ETC:
This coin is crazy, and his mining income has surpassed the benefits of ETH mining, and the Coinbase premium is more than 11%, indicating that all the old Americans will buy again, and the FOMO sentiment does not know where it will go. If you don’t break the 5-day line Take it first. In the short term, there will be heavy stagflation. You can only hold coins and not chase higher.
DOGE:
Continued refusal to adjust at a high level, and the acceptance is very strong. These US currency speculators have been crazy to the extreme. It seems that Doggo still has the possibility of new highs.
UNI:
It is still the high-level shocks. Under this kind of mood, no one knows what day it will reach a new high.
SUSHI:
Take it first.
Shib:
It is reasonable to say that a CryptoExplorers would not write about this kind of currency, but Musk pulled him up by 50% when he hoped to raise a Shiba Inu. This shows how crazy the market is. This kind of action shows that the risk is approaching.
In this kind of market, don't chase high again. At this time, if you chase after a week or so, you can basically send money. Those who have coins hold coins, but those who don't have coins can just wait and see. You can buy them later and don't get caught up in emotions.
That's it for today, see you tomorrow.
