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Today's happenings in the crap world; Edition #14

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Written by   9
1 year ago

CryptoExplorers says

Yesterday the Fed met again and Powell said a few things:

Maintain interest rates unchanged at 0-0.25%; there is no interest rate hike expectations;

It is not the time to talk about balance sheet reduction, but inflation is unlikely to continue to rise, and maintaining the status quo is not a big problem;

When asked about Dogecoin and Gamestop, he said that these two targets reflected the market bubble;

The overall environment is still loose, which is not a bad thing for the currency circle. However, the concept of Bitcoin in US stocks still performs poorly, indicating that traditional finance does not have strong expectations for cryptocurrencies in the future.

Facebook's first quarter financial report did not reflect its holdings of Bitcoin. After the report was released, Facebook rose 6% after the market, indicating that the market recognized such a financial report without Bitcoin. The value of Bitcoin held by Tesla in the first quarter was $2.48 billion. Even if it makes such a profit, no one will pay for it in the market. The stock price expects the future. Judging from the continued downturn in Bitcoin stocks, we can basically believe that traditional American finance is not optimistic about the continued rise of Bitcoin in the short term.

Biden said at the meeting of the two houses that a $1.8 trillion subsidy program will be provided for families with children and students, and the tax on families with annual incomes of more than $600,000 and $1 million will increase to 39.6%. This tax is really too high. If you earn 1 million, you have to pay 400,000 to zf, and you don’t let people live. There is a big meaning of robbing the rich and helping the poor. This is generally beneficial to the encryption industry. On the one hand, the rich Will consider reasonable tax avoidance through blockchain, on the other hand, after families receive subsidies, they will consider investing in cryptocurrency.

The number of bitcoins transferred by miners to the exchange within 7 days was 49.9, reaching a 4-month low, indicating that miners have begun to accumulate bitcoins. Without miners’ selling pressure, the market will be more stable.

Pantera Capital, a veteran investment institution in the crypto industry, believes that Bitcoin will eventually rise to $700,000, and stated that the model is accurate every time except for the price lag in February 2016. It is not easy for madmen to comment on this matter, but from the perspective of reason and data, the probability of this number in this round of bull market is too low.

The top 10 traders on TradingView's list last month believe that Bitcoin will continue to rise and can wait for opportunities to do more. There are a lot of ups and downs in the market every day, but everyone must participate in the transaction based on their own judgment.

All official stores of the NBA Rockets already support Bitcoin and other cryptocurrency payments. Rockets’ domestic fans are happy now. They don’t need overseas payment channels to buy Rockets official peripheral products. In addition, the American Bubba Gump Shrimp seafood restaurant also accepts Bitcoin as a method of payment for meals.

India is considering a total ban on cryptocurrency activities and transactions, and also intends to review the past transactions of all citizens of the country. India is really crazy. The new crown diagnoses more than 300,000 people every day and kills more than 3,000 people. If you don't want to save people, you will also engage in supervision of the currency circle. This operation makes people feel the magic of the world.

Residents of Caribbean islands can use Bitcoin for local transactions and can purchase any goods and services, including real estate and food. A few years later, take a Bitcoin worth 700,000 dollars in your hand and travel the world, hahaha.

The new German law allows institutional investors to invest in encrypted assets, which took effect on July 1. It seems that after July, a large amount of incremental funds will rush in. At present, this pool has 350 billion euros to participate in the encrypted market. It's pretty good to think about it. Excited.

The German Financial Bureau cracked down on Binance’s stock tokens. This matter must have been suppressed everywhere, robbed of traditional cakes, and shot the bullet.

The US wealth management company Wealthfront will begin to allow users to invest in cryptocurrencies later this year. This company has 350,000 accounts and $16 billion in assets, which is another considerable amount of incremental funds.

The US SEC postponed the VanEck Bitcoin ETF review to June, and the results were given on June 17 at the earliest. It seems that there will be no big market in May, and the time for big funds to rush in in the future will be June to July.

The price correlation between Bitcoin and ETH in the past 30 days has reached the lowest level in two years. The current correlation is -0.18, which means that it is completely irrelevant. Gone are the days when the crypto world looked at the face of big pie.

JPMorgan Chase provides Bitcoin investment products to high-net-worth clients. Goldman Sachs, Morgan and major US banks are robbing this market. As long as they provide better channels for funds to come in, our bull market will not end.

Tether printed another 500 million USDT. The speed of printing money has slowed down recently, which is not conducive to a sustained rebound.

Market analysis

Bitcoin:

The market obviously does not have strong incremental funds in the short term, and it is still in the stage of stock game. Therefore, the market will have a seesaw effect, that is, a certain large market value currency will absorb other currencies in the market, and there will be a high probability of differentiation in the evening, and the operation is still Go weak and stay strong. The correction of the position of the big pie is a normal trend. The important thing is whether it can be returned to the movie tomorrow. The CryptoExplorers believes that Bitcoin will still be weak in the near future. At 4 o'clock tomorrow afternoon, after the option of 2 billion US dollars expires, the main funding is It will reveal its true colors, and the probability of a callback is greater than an increase.

ETH:

Still on the road to new highs, continue to hold the main. Yesterday, JPMorgan Chase issued a report on mad milk Ethereum, explaining why ETH would outperform the market. One is that the liquidity of Ethereum is more flexible, the second is that the exchange rate of Ethereum is higher than that of Bitcoin, and the third is that the Ethereum network is more active. Rich, including the ever-evolving Defi. At present, the market value of Ethereum has surpassed Paypal and Platinum, and the value of the new generation of digital networks is fully demonstrated.

HT:

Heco is said to be engaged in node elections, so HT and MDX rose together. This is difficult to continue and it is not recommended to chase higher.

DOT:

The overall market is still linked.

XRP:

Ripple's shareholder SBI said that Ripple will IPO after the SEC lawsuit. This news should not have much impact on Ripple. After all, it is not possible to go public if you want to go public, and it will only count if the supervision agrees. However, after having this idea, the secondary market still gave a little reaction, a slight increase, relatively limited continuity, and no participation.

LINK:

Linkage is not a strong trend.

LTC:

Litcoin, the market outlook is likely to follow the decline of Bitcoin.

ADA:

When the market is falling, the funds that are brave to defend the market will go up once the market warms up. It is enough for those who participated in the past to continue to hold it.

TRX:

Hit the pressure position, take a day and then take a look.

XMR:

Strong, Ethereum set new highs, he followed Ethereum, Bitcoin set new highs, he followed Bitcoin, followed by shocks and higher.

DOGE:

This position is dominated by shocks, and those who buy are estimated to be waiting for Musk's performance on the American variety show "Saturday Night Live" next Saturday.

FIL:

The chances are small, so lighten up is the priority.

UNI:

The coins that hit new highs are all good coins, so take them first.

Let go of the weak and stay strong. Those who set new highs will continue to set new highs. Weak coins are likely to be sucked, and market differentiation will further intensify.

That's it for today, see you tomorrow.

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