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Today's happenings in the crypto world; Edition #33

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Written by   9
1 year ago

CryptoExplorers says

Bitcoin fell from 43,800 to 29,000, a drop of more than 30%, while mainstream coins and small coins could be said to be miserable. I can bear to see that a 50-80% drop is a sparse and normal trend. The CryptoExplorers said in March that the future of Bitcoin will not only see the beginning of 4, but also likely to see the beginning of 3. After seeing 3, what we have to do is to carry out bargain hunting as planned, and the CryptoExplorers is indeed one of knowing and doing. The market’s frenzied slaughter mood and the degree of serial liquidation have exceeded everyone’s expectations. No one can imagine that we could see Bitcoin starting with 2.

In this extreme panic, there are very few people who can anti-humanity bargaining. The most representative figures are the founder of ARK, Musk and Justin Sun. At this time, they still dare to look more, ARK CEO Mu Jie Still thinking that Bitcoin will rise to $500,000, and buying 170,000 shares of Coinbase, Musk tweeted that Tesla image.pngand his hands, which means that Tesla firmly holds Bitcoin, and Sun Ge even manually dips 153 million. Bitcoin with a USD price of 36868 and Ethereum with a price of USD 135 million at a price of 2509. The behavior of these bigwigs tells us that this wave of Bitcoin has been thoroughly washed, 29,000, will be a new starting point for Bitcoin to go to 80,000 US dollars this year, and the madman will witness with everyone in the second half of the year.

Talk about some interesting data:

Panic selling by new entrants hit the fourth highest since 2015. The other three were the beginning of the bear market in 18 years, the end of the century in 18 years, and 312 last year. Some people believe that the release of this concentration of risk is more like the previous market situation in 94, so it will be used as a bottom and start to rise in the future.

The greed index is 11, surpassing last year's 312. When panic is at its extreme, it is greed.

The long liquidation volume of the exchange reached 10,525 BTC in one hour, a record high, which means that the leveraged longs are almost wiped out.

The Defi agreement liquidated US$662 million in 24 hours, the highest level since February 22 last year; the amount of locked positions in the Defi agreement dropped rapidly by 37%.

The contract market liquidated more than RMB 40 billion in 24H, a recent high.

Stable coins worth 5.28 billion U.S. dollars in 24H flowed into crypto exchanges, hitting a record high, and bargain-hunting funds poured in frantically.

The whale transferred 638 million U.S. dollars in Bitcoin from Bitfinex. The transaction occurred when Bitcoin fell below 40,000 U.S. dollars. It is likely that financial institutions bought bargain-hunting. At the same time, the exchange transferred out 6000 Bitcoins again in the early morning.

MicroStrategy CEO stated that it already holds 111,000 bitcoins, of which 92,709 are held by MicroStrategy and have been disclosed. At the same time, the CEO stated that he did not sell Bitcoin.

On such a tragic day, what we have seen is that institutions have bargained the bloody chips of retail investors, we have also seen the crazy influx of a large number of stablecoins, and we have also seen the tragic situation of all leveraged bulls being washed. The occurrence of these things means The market has become healthy again, and the previous large profits have been cleaned up. If you want to start a new rise, you must either exchange time for space or space for time. This wave of release risks is very thorough. Later we will see the big pie leading the market and marching forward.

Wells Fargo recognizes cryptocurrency as an investable asset and will open its crypto products in June. Institutions are still madly deploying the encryption industry, and the industry bull market pattern has not changed.

Grayscale GBTC discounted -9.22%, ETHE discounted -8.4%, Bitcoin's discount quickly rebounded, giving the market new confidence.

Some Fed officials expect that the Fed will start discussing the reduction of quantitative easing at the upcoming meeting. Expectations of interest rate hikes and tightening are getting closer. This is one of the bad signals for us at the moment. However, yesterday’s sharp drop in Bitcoin has already anticipated this event in advance. If there is a black swan event later, the impact will not It will be too big.

In any case, the currency circle is not a money printing machine. With this plunge, I believe that many new leeks will understand the importance of risk. Because the old leeks have experienced this, they will become fearful in the rising market. The spirit of "not afraid of missing out, and doing nothing wrong" can go further in the market.

We are in accordance with the original plan to buy the bottom of Bitcoin below 40,000. I believe that in a few months you will thank yourself yesterday. You will not be moved by the market. Everything is under control. As long as you don’t use leverage, no one can beat the Bitcoin in your hands. currency.

Market analysis

Bitcoin:

Bitcoin finally stood above the 200-day moving average, but no one could imagine the process of hitting the beginning of 2. The CryptoExplorers can only make money within his own knowledge. After adding up the position with the word 3 yesterday, he once suffered a huge amount. However, the market will always return to rationality. When rationality returns, our trading plan will show value. Investors who have lost money must first adjust their mentality and then return to the market. At this time, confidence is more important than gold. We must firmly believe that we are still standing in the most important position in the world. Bitcoin is still going high in the short term. There will be an option with the biggest pain point of 48,000 tomorrow, and Bitcoin is hopeful that it will rebound above 45,000.

In addition, judging from the situation of funds today, it is obvious that the pie has returned crazily, and it is only after the decline that we can see who is the real core asset. Therefore, the pie will continue to be stronger than other currencies and recover the lost market value.

ETH:

The strength of the bottom-hunting of funds is obviously less than that of the big pie, and the short-term linkage rebound is the main one.

DOT:

After being brought down by the market yesterday, the main force should have a certain degree of self-help behavior, mainly holding positions or buying.

XRP:

The overall decline is acceptable, and short-term rebounds are the main ones.

LINK:

The decline is weak, and the rebound is mainly.

ADA:

Still maintained at a high level, it is expected to regain its upward trend in the future.

XMR:

A price that has fallen for a few months will have a major impact on sentiment and a weak rebound in the short-term linkage.

DOGE:

After the short-term risk is released, there is a certain rebound expected.

UNI:

Today's decline is limited, and the rebound is the main one, and the core assets can be fished if they fall down.

SUSHI:

Mainly hold or buy.

AAVE:

Some people are more optimistic about loan-to-lending tokens, have a good business model, and have strong certainty. AAVE is still worth looking forward to in the medium and long term.

The market may recur in panic, but the risk is already extremely low. If someone panics and throws out the chips, we will just get it as planned. Most people should have a big retracement in these two days, but the market is like this, the profit and loss are the same, the difficulty of making money and losing money will not be much different. So we don’t need to belittle ourselves, or feel sad. There is no market that only makes money without losing money. Opportunities have fallen out. Many opportunities in the future are beckoning us. Some people still hope that everyone will gradually establish their own trading system and earn money. Perceived profit.

That's it for today, see you tomorrow.

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