If there is no more darkness, only light remains
The madman said
Bitcoin is back above $40,000. The mentality of investors who previously watched the bear market and sold their chips in fear is probably very different from the current mentality of investors who bravely cut the bottom, because once this came and went, it was a 30% fluctuation. For most people, it is already a huge fluctuation. If you look at it in the long run, the best way is to actually invest in value and ignore short-term fluctuations in the market, because only in this way can you not be driven by Mr. Market. Otherwise, it is difficult for an average investor to resist their humanity, toss and forth, and lose to the market. Looking at 2018 to now, there are few people who can beat this figure. Compared to those lying in the market, efforts over the years have become negative, so in the market, choices are greater than efforts. Instead, they need to choose a better hug.
Several data still support the bull market:
The Bitcoin stablecoin supply ratio has reached a record low, which means that there are more stablecoins in the market to buy Bitcoin, and a lot of idle capital has begun to enter the market;
When the market began to rebound the day before yesterday, 668,000 ETH flowed out of the exchange, the biggest outflow since January 22 this year;
Yesterday, there was a continuous outflow of tens of thousands of shares from Taifang from centralized exchanges. Institutional purchases continued to increase, changing the previous high inflow state;
The Purpose BTC ETF has increased its holdings by 428 bitcoins and currently holds 18,749. Bitcoins are continuously locked up by institutions;
Yesterday, more than 54,000 bitcoins were exported from the exchange, worth 2.1 billion US dollars. Retail investors sold them frantically, and institutions took them away when they bought them. The amount was shocking, and there were fewer and fewer coins in circulation;
Ark Fund bought 160,000 shares of GBTC Bitcoin Trust, and institutions can be seen both inside and outside the market;
Bloomberg strategists are still optimistic that Bitcoin will reach $100,000 as the supply of Bitcoin continues to decline;
Due to the closure of the mine, Bitcoin's computing power declined significantly for 11 consecutive days, and the selling pressure will abate somewhat before the difficulty is adjusted;
Analysts at J.P. Morgan rated Coinbase as an increase in wealth, saying it will rebound by more than 60%. This is how traditional institutions are optimistic about the crypto market from the side;
The CEO of Galaxy Digital believes that the Bitcoin ETF will be launched within a year, and this expectation will keep institutions buying.
In addition to this, there are regulatory measures from various countries. When these regulations are fully implemented, that is, when the coin industry restarts a raging bull market, remember the phrase: “If you can't beat him to death, it will definitely make him stronger!”
The Federal Reserve assessed cryptocurrency policy at full speed, and the White House also quickly studied to fill the regulatory gap;
The British Financial Industry Association called for the speedy establishment of more clear cryptocurrency rules;
The role of the Canadian Securities Commission is that the Polonex Exchange ignores securities laws and is ready to be regulated;
The Austrian Financial Services Authority warns unlicensed cryptocurrency brokers;
The Central Bank of Kuwait issued a warning about cryptocurrency investments;
The Iranian president said that cryptocurrency mining is prohibited until September 22. This policy is mainly due to the shortage of electricity in Iran;
The governor of the Central Bank of Nigeria is optimistic about digital currencies and wants to criticize unstable cryptocurrencies; the crypto industry is still prohibited;
Our country's attitude towards mining and coin trading is also quite clear; we must participate in the market within a framework.
Regulations in various countries have begun one after another. This period will be the most difficult period before Bitcoin reaches a sky-high price. As long as it can be carried over, the light will come by itself. In these dark days, looking at how strong the market is now seems to have given us the ultimate answer.
Nebraska in the US officially approved the Digital Asset Banking Framework Act. The state became the second state that can license crypto banks; the governor of Colorado said he hoped residents could use cryptocurrencies to pay taxes, and the state became the first state in the US to use various cryptocurrencies to pay taxes. The US is running too fast, and the trend is irreversible. When ZF and institutional interests are fully tied in, it is difficult to see a second outcome other than an increase.
The guy who bought pizza with 10,000 bitcoins 11 years ago said he was willing to use up everything to buy bitcoins. If he sees him drop, he will double his purchases. This dude's life is so interesting, full of dreams and regrets.
According to the survey, more than 25% of Australian respondents want to pay their wages in Bitcoin, which shows that in the eyes of Australians, Bitcoin is also a bastard. The global consensus will be further strengthened. The developed countries will take the lead, and developing countries will follow up later.
The panic index is 22, the same as yesterday, which is pretty good.
The grayscale GBTC discount rate is -12.57%, and the ETHE discount rate is -4.33%, and it has hit back again. The short-term rebound will not necessarily last; it will take time.
The US dollar and RMB broke through 6.4, a new high since June 2018, which is beneficial to A-shares and Bitcoin. The appreciation of the RMB has led to a frenzied inflow of foreign capital into A-shares recently, and the trend in the second half of the year can be expected. Bitcoin, on the other hand, has become the foundation for Bitcoin's continued bull market due to the continuous release of water and depreciation of the US dollar.
Market analysis
Bitcoin:
There is not much rebound today, which indicates that the selling pressure on the market is not obvious, but there are many tight markets around 41000-42000, so it is relatively difficult to break through this volume in the short term. This position will require a period of twisting. If the contraction breaks through, you can consider a high sell-off band, falling to around 36,000, which will be a good opportunity for those who take the time to participate.
ETH:
As strong as an old dog, the Ethereum transaction volume on the entire network has reached 20 billion US dollars, surpassing Bitcoin. Currently, there is some resistance around 2,900. Crazy people think that after a period of profit, Ethereum has a chance to reverse directly, so they can continue to buy every time there is a pullback.
DOT:
The slot auction is about to begin, and the whole of the rest is dominated by fluctuations rising, so it won't be too weak.
XRP:
Ripple cooperated with Oman's second-largest bank to promote cross-border transactions between Oman and India. The Ripple incident was indeed fatal. It simply destroyed the hegemony of the US dollar. No wonder the SEC did it for his life. The short-term trend has reached a pressure level, and it is expected that it will mainly fluctuate and fall back.
LINK:
Today, it continues to strengthen, and funds are still being rescued. Currently, it has reached a pressure level. It is expected that after the market pullback, it is expected to continue to rise, and the funding is quite firm.
ADA:
One of the strongest in the mainstream is expected to be the first to get out of the reversal. Pressure has also come under pressure in the short term, and the pullback is considering getting on the bus.
XMR:
This wave of rebound was weak, mostly shocks.
ETC:
After hitting the pressure yesterday, they changed hands at the pressure level today, and it is expected to continue to strengthen for another 1-2 days.
DOGE:
Foreigners say there is more and more air for dogs. I don't know how long this consensus will last. The market rebound and no funds have bottomed out. I suggest switching positions.
Matic:
Mark Cuban announced his support for him. He has already stepped out of a reversal trend and is expected to reach new heights in the future. Currently, he should be the leader in the entire network.
SUSHI:
It has rebounded to a pressure level, and there is a need for shock adjustment.
AAVE:
Without UNI and SUSHI being strong, it is considered average, and the overall linkage is the main focus.
Most currencies in the market have rebounded to pressure levels, so short-term selling pressure is a normal phenomenon. If the upward trend continues in the evening, it can be reduced by one point in the short term. There is little chance that the market will directly reverse. Continuing to lie down and pretend to die is an upward strategy for medium- and long-term investors.
Finally, in order to prevent loss of connection.
It is recommended that everyone actively join the Huoxin Group. 1. Download the Huoxin App; 2. Search for “Crazy People Main Group” to enter.
Or follow Weibo: “Digital Currency Trend Fanatic”.
You can easily find crazy people.
That's all for today, see you tomorrow~!
