Actively embracing regulation, the market is not yet out of the downward channel

Although the current specific regulatory rules have not yet come out, you can see that some official media or more mainstream media are already playing up the regulatory atmosphere.

Actively embracing regulation, the market is not yet out of the downward channel

Although the specific regulatory details are not out yet, you can see that some official media or more mainstream media are already rendering the atmosphere of regulation.

The Securities Times published an article “Banks vigorously fence virtual coin transactions Large-scale accurate identification still struggles”, mainly in the form of manual plus automatic system identification to strictly control the transfer of foreign speculative accounts and establish an anti-money laundering system among major banks. From the content of the control transaction mentioned by the State Financial Committee a few days ago, the main purpose is also the control of money laundering channels.

At the same time, the Economic Reference News published an article about the “urgency of rectifying the chaos of virtual currency speculation”, which mainly emphasizes what happened a few days ago and plays the role of rendering the atmosphere or indicating the attitude. Such articles are not uncommon these days, and the purpose they want to achieve is clear. For the IFC to put forward its opinion on bitcoin, we also fully support it, and compared to the continuation of the chaos in the circle, official intervention or regulation is very good for both the cryptocurrency market and the blockchain industry in terms of long-term development.

Secondly, for the market itself, from last Friday to today, the market is basically in a state of chaos and confusion, whether it is over-reaction or “a shock” has happened, that means in these days, the market’s emotion is also in a state of disorder and venting, then if the next specific overall out or slowly After the implementation, the market is still not very stable, but not like the past few days, after all, the past few days in the face of the situation so far, the market is the worst intention to face, if the next in the process of announcing policies or implementation, the market may also happen “the situation is far from imagined so fast” such a situation, the market’s The reaction is also relatively limited, so the overall is not too pessimistic.

On the other hand, according to Glassnode, Anthony Pompliano of Morgan Creek recently concluded that bitcoin whales (entities holding between 10,000 and 100,000 BTC) bought 122,588 BTC at the height of the market crash last Wednesday, that most of the traffic on cryptocurrency exchanges came from the U.S., and that at least one well-known whale who sold bitcoins for $58,000 not only sold bitcoins for $12,588, but also sold bitcoins for $12,000. The well-known whale who sold Bitcoin has not only re-hoarded Bitcoin, but also increased their holdings. This unknown entity sold 3,000 BTC on May 9 and then bought back 3,521 BTC in three separate transactions on May 15, 18 and 19.

This is a snapshot of the recent market, although most people are in the panic of the market plunge, there are many people sold their hands of bitcoin, but in fact the current is the process of retail investors selling whales buying, domestic users selling foreign users buying, of course, we do not have to feel that we are in a passive situation to sell out chips, this time such a big action, in fact, is not a simple chip conversion, behind There is a deeper meaning, perhaps involving the Fed quantitative easing bearer part of the carrier, and we just take the response, this aspect will be discussed with you in detail later.

Back to the market, today’s market rally is still relatively strong, to be precise, from 12:00 last night midnight, the market began to continue to rally, the current has returned to the $ 36,000 above. These two days we should feel very deep, the market does not appear the so-called one-sided, are in the process of rising or falling sentiment will be amplified, but in the direction of the sentiment has not been completely released when the market will suddenly turn again, this is the so-called uncertainty, instability.

Yesterday’s rally was certainly more up morale, but not yet out of the recent downward channel, when this downward channel is not so obvious, perhaps it is the time when we can breathe a sigh of relief. The short-term market, running above $30,000 are not so sure, so still a little restful, after the plunge, not only immediately plunge this option, there are waiting. The other coins: these two days other coins have their own way of falling, in addition to being driven by the broader market, like ETH because of the DeFi board downturn and fell more aggressive, the platform coin party selling HT and OKB because of the uncertainty of the transaction, fell especially bad, most of the other are also half a catty, but some coins may fall this time, will never rise up, so do not blindly plunge The company’s main goal is to provide the best possible service to its customers.

For DeFi, still very confident, because DeFi is a very important part of the blockchain technology mapping, in fact, will not disappear, and even in the future will be more and more powerful, may still need a little time, but remind everyone not to ignore the board.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/actively-embracing-regulation-the-market-is-not-yet-out-of-the-downward-channel/
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