CryptoExplorers says
The recent trend of Bitcoin-related concept stocks in the United States has been relatively weak. The most representative ones are Coinbase and Tesla. Although ARK funds continue to increase their holdings of Coinbase, they still have not seen a good realization after their listing, and Tesla is the same. Earned 100 million US dollars by selling Bitcoin, which enriched its financial report profits, but the stock price continued to fall. From this we can see that the U.S. capital market has not continued to be optimistic about cryptocurrencies. If they are optimistic about the future, the prices of these two stocks will not go so weak. Judging from the recent times of Bitcoin trading, it is basically around 5 in the morning. This time is the best time to sleep in the Eastern market, and it can be judged to be a lightening behavior in the Western market. Therefore, from the perspective of the medium-term trend, the probability that Bitcoin can quickly reach a record high of 65,000 is not high. The overall thinking is still high and wide. Buying on lows and reducing on highs are the best policy.
South Korean gaming giant Nexon bought 100 million U.S. dollars of Bitcoin today, with an average unit price of 58,226. It's been a long time since I saw the news that institutions bought Bitcoin in large quantities. This is a positive sign. Later, let's see if institutions have the willingness to continue buying. If they can continue to buy, it is difficult for the 50,000 platform to fall back sharply.
The CEO of Visa stated that he is entering the field of cryptocurrency on a large scale. He sees 5 opportunities, 1. Cryptocurrency transactions; 2. Create new legal currency channels; 3. Provide cryptocurrency options for financial partners; 4. Use stable currency for settlement; 5. Develop CBDC solutions. This CEO has changed really fast. He was very repulsive to the encryption industry before. Now he is quickly changing and embracing. In the future payment track, VISA will continue to compete with Paypal.
Bank of America will provide encrypted custody products and selected NYDIG's Bitcoin ETF. If a financial institution such as Bank of America participates, it will bring huge incremental funds to the currency circle, but the premise of all this is that the Bitcoin ETF is approved by the SEC.
Wells Fargo said it will pay attention to customers' needs and desires for cryptocurrencies. It seems that this American bank is also planning to enter the encryption industry. The trend is already clear, and it depends on who will seize the market first.
The European Investment Bank will issue 100 million euro bonds on Ethereum. Traditional institutions have begun to use the infrastructure of cryptocurrency to do their own business. This shows that the scalability and ecology of Ethereum have been recognized by the traditional market, and it will not be a problem to continue to rise in the future.
After Turkey kills private crypto exchanges, it intends to establish its own digital asset central custodian bank. It is a "regular army entering the mountains, the first thing is to suppress bandits." The cake is returned to the country, and Turkish supervision will follow.
The 72,000 bitcoin option will expire on April 30, about 4 billion US dollars, and the scale is still not small, with the biggest pain point at 54,000, so it is roughly equivalent to no impact and negligible.
The owner of the NBA Rockets stated that all its catering brands plan to accept cryptocurrency payments within the next 90 days, and his luxury car dealership company accepted Bitcoin payments as early as 2018. Cryptocurrencies are simply too easy to use in the United States now.
Encrypted exchange Gemini and Mastercard cooperated to launch an encrypted credit card. Use this credit card to get up to 3% encrypted rewards, which are deposited into Gemini wallet accounts. The integration of encryption and tradition, this is the future.
The Central Bank of Iran allows money changers and banks to use cryptocurrency to pay for imports. This bill is powerful. It completely circumvents US sanctions through the blockchain, and the status of the US dollar is being challenged. The bottom-up feature of blockchain restricts monopoly and brings more fairness to the future world.
Market analysis
Bitcoin:
Today, it fluctuates throughout the day, in line with expectations. The callback amount may not be considered large. There is a chance to continue to rise. 57000 may still have to be touched. In the short term, the callback will be the main focus. The support level is around 53000.
DOT:
Linkage market.
XRP:
The important pressure level of 1.5 failed to break through. We continue to pay attention to the gains and losses of this position. It is very important. Only after passing it can we participate.
LINK:
When the pressure is reached, it is not easy to go straight up, and the shock is the main thing.
BCH:
The rebound rushed higher and fell back. The trend is not strong, so do not participate first.
BSV:
Weak, stressed, not participating.
ADA:
The subsidiary IOHK has reached a cooperation with the Ethiopian government to build a national identification system, which means that ADA's technology is really solid, otherwise it will not be purchased by zf. Hold it first and wait for the rebound.
TRX:
Linkage rebounded mainly.
XMR:
Once again at a record high, this dog farm is too stable, and it is very well controlled, so continue to hold it.
DOGE:
When the old horse shouted, thousands of troops came to meet, and the pressure is currently under pressure. It is not recommended to chase after this position. It is mainly to lighten up the position that has not gone before. Ma tweeted that The Dogefather, SNL (live on Saturday night) May 8. I don't know if there will be any moths on Saturday night, just wait and see.
UNI:
The new heights are volatile, holding is the mainstay, and the trend is not bad.
CFX:
The unlocking plan has come out. The number of investors unlocked from May to August is all 0%, and the unlocking started in September. The selling pressure in these months will not be too large. The strong support near US$0.8-1 is worth ambushing. Stop loss can be set around 0.7.
The market’s rebound trend is not over. There is a chance to continue upward after today’s turbulence. However, the overall space madman believes that it is relatively limited, so selling high and buying low on your own is a better way to participate.
That's it for today, see you tomorrow.
