CryptoExplorers says
South Korea has recently cracked down on illegal cryptocurrency activities. On the one hand, it lowered the foreign exchange limit to a monthly limit of 10,000 US dollars. On the other hand, it required financial companies to report suspicious crypto transactions within 3 days. South Korea’s Bitcoin premium is still maintained at about 20%. There should be many banks that use Bitcoin to do bad things. The global strong supervision situation will continue, and many countries, including India and Turkey, have begun to strictly regulate cryptocurrencies. This kind of divergence can lead Bitcoin to a higher position in the future. When there is a consensus expectation, Bitcoin will completely peak.
Robinhood and Coinbase continue to be in the top two of the free list in the financial zone of the Apple App Store in the United States, indicating that the currency circle is still in a crazy situation, and it is not a good signal in the short term. Therefore, we are likely to be in the adjustment cycle of the bull market.
Purpose Bitcoin ETF increased its holdings of 670 Bitcoins last week. Recently, the rate of institutional buying of Bitcoin has obviously slowed down. Instead, it is replaced by crazy retail investors. Without an institutional-led market, it is difficult to get out of unilateral rises.
The relevance of TOP 10 crypto assets has dropped to a record low. In the past, everyone went up and down. Now the differentiation is very serious. Therefore, for holders, the ability to choose is greater than the trend of the market. The previous bull market was a collective feast. The future will be the world of value coins.
The number of active USDT addresses exceeds 6 million, and most of the users who use U are Chinese. Therefore, there are already a lot of people in China who are speculating on coins. Our team is getting bigger and bigger, and the difficulty in the future will be getting bigger and bigger.
Coinbase fell by 3.8% before the market. It seems that the expectations of the United States in the evening are not very good, and Bitcoin may be brought down by the US stocks in the evening.
Yesterday at the Boao Forum, several leaders of the central bank mentioned cryptocurrency when they talked about the digital renminbi, and their tone has obviously eased. This time they are talking about ensuring that cryptocurrency speculation does not cause serious financial risks, and there must be minimum regulatory rules. Obviously, this kind of speculation will not affect financial stability. Maybe China will soon formulate regulatory rules and gradually open up compliant transactions.
Market analysis
Bitcoin:
It is still in the rebound cycle after the risk is released. This is the "safety period" mentioned by the madman yesterday. Whether Bitcoin can reverse or not depends on what the Yankees mean at night. From the disk, the CryptoExplorers maintains yesterday’s judgment and reverses. The probability is low, and continuing to pull back will be the main tone. The main reason is that the rebound of Bitcoin throughout the day is too poor today. There is no funds to continue to push up the price of the currency. Most mainstream currencies are short-lived, and the ebb of funds is still relatively obvious. Therefore, the short-term risk is still relatively large. Continue to wait and see.
ETH:
Linkage with Bitcoin, the trend is not too strong.
DOT:
There is almost no rebound today, weak, mainly to lighten up.
XRP:
Rush up and fall back, do not participate temporarily. SBI acquired an STO, bought digital corporate bonds, and airdropped the equivalent amount of XRP. This is a negative for sucking the blood of XRP and filling the flesh of corporate bonds.
LINK:
Yesterday, the downward force was very strong, and the bulls were blown out. Today’s rebound is okay, and the market outlook may reach new highs.
BCH:
Today's rise and fall is a bit serious. If you can't get back the upper film in the evening, it is better to pull back.
LTC:
Weak.
ADA:
The high cabinet oscillates.
XMR:
When it falls, it falls less, and when it rebounds it rises a lot. This kind of currency is good for a long time and fluctuates upward.
ETC:
Relatively defensive, the market outlook is expected to rebound upward.
DOGE:
Many people have heard that Dogecoin has entered the currency circle, so maybe his bubble can continue to blow, but this kind of speculative i will not participate, no one knows when it will be the last one, if you still hold it, Can be held along the 5th line.
CFX:
Yesterday, the downward pin was inserted quite sharply, and many longs were washed away. When the United States has funds, the currency price has been pulled back, indicating that there are still plans in the future. The currency that can clearly see the main behavior will still have a chance to rise in the future.
Domestic coins have been very fierce recently. The old guys such as NEO, ONT, and Qtum are all crazy to hit recent highs. They have entered a supplementary increase cycle, which has driven the domestic sector. The funds are so desperately pulled, the probability is not finished, and most of the chips are in. In your own hands, you can play whatever you want.
That's it for today, see you tomorrow.
