CryptoExplorers says
03/05/2021
Ethereum is driving the market crazily upwards. I didn’t expect Ethereum to accelerate suddenly during the holidays. This trend is not conducive to sustainability. This bullish force does not know where it comes from. It may be the consensus of institutions or the FOMO of retail investors. In short, the trend is It is completely different from the expectations of the CryptoExplorers two days ago. The market is the market. We choose to be in awe, synchronize with the market in time, and change our thinking.
In the past week, Bitcoin exchanges valued at 677 million U.S. dollars, Ethereum valued at 1.4 billion U.S. dollars, and USDT valued at 565 million U.S. dollars have flowed out of the chain in the past week. This data can show that institutions are still buying and withdrawing, and it can explain why Ethereum is stronger than the entire market.
The NVT indicator is still at a relatively low level, which means that compared with the market value, the trading volume is large. It shows that over-the-counter transactions are very active, and a large number of bitcoins are changing hands at this position. After the people who get on the bus and those who get off say goodbye to each other, a new round of rising will begin.
Paypal CEO believes that Bitcoin will play a very important role in cryptocurrency. More and more bigwigs agree on the value of Bitcoin, which is conducive to long-term development in the future.
The spot trading volume of crypto exchanges hit a record high in April, an increase of 49% from the previous month. The continued growth of trading volume is the basis for the continued bull market.
The founder of Grayscale hopes to sell Bitcoin to Buffett's company for $100,000. Since Charlie Munger scolded Bitcoin yesterday, it has caused a lot of ridicule in the crypto industry. This kind of duel and conflict between old and new is inevitable. It's good for us to keep in line with the trend of the times. Regarding right and wrong leaving time, black cats and white cats are good cats when they catch mice. There is no need to fight for right and wrong, making money is the last word. After all, it doesn't make sense for Charlie Munger to have more money, and we still have a long way to go.
In the past 7 days, the Baidu Bitcoin search index has dropped by 42% from the previous month. This shows that the attention of Chinese people is decreasing this week. So today’s surge should not have much to do with retail investors. Therefore, the funds took advantage of the Chinese people’s vacation to pull a wave. What is the purpose of this is worth pondering.
Market analysis
Bitcoin:
Bitcoin still has no direction in the short-term and is brought up by the overall market sentiment. The strong pressure above is still the integer mark of 60,000. If it breaks smoothly this time, it will go to a new height. There is a high probability that this position will not break through so quickly, and the CryptoExplorers maintains a shocking judgment.
ETH:
A few days ago, the bulls were obviously weakened, and today they directly broke the record and hit a record high. The advantage of the 5-day line strategy is that it can be held without a brain, which is much more reliable than our subjective judgment. The short-term has begun to accelerate, and if it accelerates again tomorrow, it is likely to leave the market in the mid-term. Don't be brought in by FOMO emotions. At this time, it is irrational to chase high, and those holding positions can still be held in accordance with the tactics.
OKB:
In the past two days, OKB has exploded and brought HT up a bit. It should be that Defi on the OK chain is coming out soon. There are really a lot of mouse warehouses. The news is about to fall back.
DOT:
Mainly linkage. This week, 7.87 million were unlocked and 2.73 million pledged.
XRP:
At present, it is difficult to continue to rise, and there is a callback expected.
LINK:
Linkage market.
BCH:
Yesterday’s callback is wrapped up today, and the market outlook is expected to continue to rise.
LTC:
Wright is near the pressure level and it is not easy to go straight up.
BSV:
Small steps up, you can continue to hold. On the news, the Norges Bank mentioned the central bank's digital currency as the preferred solution for BSV technology. There will be no news about this currency for some time, so you can pay attention to it.
ADA:
High shocks.
XMR:
Linked to the market, passive anti-packaging callback yesterday, mainly high shocks.
ETC:
The upward trend is intact, hold on if the 5-day line is not broken.
DOGE:
I bought everything that should be bought, and it is estimated that they are waiting for the night scene next Friday, with short-term shocks mainly.
UNI:
It has reached a new historical high. There are only so many core assets in the currency circle. There is a leader in each field, and you can hold these leader currencies.
AAVE:
There is also a chance to hit a new record high, leading the lending category.
The market will continue to differentiate, the strong will continue to grow stronger, and the ones that have not risen will make up for it, and those in the middle will be pitiful.
That's it for today, see you tomorrow.
