CryptoExplorers says
10/05/2021
There are more talks about Ethereum and Dogecoin, because these two coins have increased greatly, and the price is cheap, and the entry threshold is relatively low. Anyone who has experienced the bulls and bears in the stock market knows that whenever there is such a grand occasion in the alleys, the market will not be too far away from the decline. The increase at this stage is very alarming, but it is also the most risky, and we cannot predict where will the market end up at the top, but we know that the position risk now exceeds the profit. What we have to do is to wait for the action of the market. As long as the trend does not change, we will wait patiently.
The number of transactions on Ethereum's single-day chain reached 1.78 million, a record high. It has exceeded the top 50% in 17 years. It can be seen that the market's activity is constantly increasing. The 7-day average outflow of the Ethereum Exchange reached a record high, reaching 70.29 million U.S. dollars. This was mainly due to institutional purchases and withdrawals. This can be seen from the premium index of Coinbase. This round of increase is still sustained by institutions leading. Several data show that Ethereum has also entered an accelerated phase of rising phases.
In April, the traffic of cryptocurrency trading websites reached 530 million people. There are 7 billion people worldwide, accounting for nearly 8% of the total population. From the perspective of global financial investors, there is only 3-4 times the space left. From the perspective of the number of people, May should still be in a state of surge, and the relay in June may not be so smooth.
The total market value of global cryptocurrencies has surpassed the circulation of the US dollar. When will the market value of the US dollar exceed the market value of the US dollar, it may be the real subversion of the world.
The New York City Auditor General candidate believes that blockchain technology can greatly improve the transparency and credibility of city management, and New York pension funds should invest 1-3% in cryptocurrencies to hedge against inflation. The gradual intervention of institutions and zf will make the trend of cryptocurrencies more and more stable, but these old Americans are drunk by conflating currencies and chains.
The South African Revenue Service is about to increase taxes on cryptocurrency investors. The tax bureau said it is very concerned about cryptocurrency transactions. Now that all countries see that cryptocurrencies are unstoppable and the cake is getting bigger and bigger, they are all beginning to worry about harvesting this market. Good thing, the long-term is conducive to bigger and more stable markets.
Next week, 11,861 bitcoins will be unlocked in GBTC shares. As the half-year unlocking period gradually approaches and the price of bitcoin remains at a high level, the pressure on the gray scale will become greater and greater, and how to protect the market will become a major issue in the future. If the discount rate continues to fall, it will cause extreme dissatisfaction among various institutions, so Grayscale will definitely take repurchase measures. Currently, Grayscale has not seen the grayscale sell pie, but this possibility will increase in the future.
The USDT premium rate has rebounded, and funds are still in a state of inflow.
Market analysis
Bitcoin:
The trend this morning was OK, but in the afternoon, I was sucked by shitcoins, and all my funds went to speculation. The funds for value investment were getting less and less. The reason was that speculation made money too fast. But Bitcoin is okay, because it has basically not risen in the past two months and has been trading sideways at a high level, so even if the funds are outflows, the currency price does not have much room for decline. If Jinming continues to rise to 60,000, then the shock pattern will be continued.
ETH:
Just hold the currency along the 5th line. Guessing the top is meaningless in this market, and just walk below the 5th line.
DOT:
The high shock is still going on, this guy is linking the big pie.
XRP:
The high-level triangles are sorted, and the fluctuations are the main ones.
LINK:
If it breaks below the 5-day line, it will stop profit. If it doesn't break below, then hold it first. Today's trend is slightly weaker, and it may deviate from the callback in the short term.
BCH:
High volatility, it is expected to continue to volatility higher.
LTC:
Set a new high, continue to hold the main.
BSV:
Rebound first, it's a bit weak.
ADA:
The trend is not bad, take it first.
EOS:
Short-term high volatility, there is still a chance if you can cross it.
XMR:
If it rebounds, you can reduce it by one.
ETC:
The trend is stronger than that of EOS. You can observe it again. There may be a chance to fluctuate higher.
DOGE:
The limelight was robbed by shib. In the morning, Musk SpaceX accepted Dogecoin to participate in the commercial rocket program, which brought a wave of rebound, but the funds are obviously showing signs of ebb, and the long-term risks outweigh the benefits.
UNI:
The high position continues to fluctuate mainly.
The funds in the market are not considered rich. The shit combination and mainstream coins have a certain seesaw effect. At 24:00 tonight, the listing of the Big Mac ICP will intensify this feature. Therefore, it is expected that the market will continue to differentiate tomorrow. The ICP is great or the Big Mac is great, or the mainstream coin is great. Anyway, there is always a direction to rise. Some person's guess that value investors (mainstream coins) will still be slightly better.
That's it for today, see you tomorrow.
