Bitcoin is hurting again! Can Musk’s words still be accepted by the cryptocurrency community?

Bloomberg released a 10,000-word long report predicting the crypto market in June, concluding that the real resistance level is $100,000.

Bitcoin is hurting again! Can Musk's words still be accepted by the cryptocurrency community?

Short term (intra-day): up

Medium term (over two weeks): down

Orange Chat Hot Topics

Today Bitcoin was again posed by Musk, Musk is very scum potential, said the flip-flop, a few days ago also said he diamond hand, sing long Bitcoin, today on the back of Bitcoin sent a heartbreak emoji, so capricious people do have a certain probability will sell Bitcoin, Musk so engaged indeed will make a lot of because Tesla buy Bitcoin this news entry leeks lose faith, the market fell today also from this. This is the reason why the market fell today, of course, this is only part of the reason, this morning also said 39800 this position is really resistance, in time Musk did not sing short pie also need to adjust, so we do not need to panic, Musk of the coin circle, just take what you want, bitcoin through the twelve years of rain and wind does not rely on the so-called celebrity stand, similar to the success of some brands is not because The success of certain brands is not because their spokesperson is a top stream, but because their brand has a large enough consensus in the market, and so does bitcoin, and hopefully the new leeks will not be too aggressive.

The second important news is that Bloomberg released a 10,000 word long report yesterday predicting the crypto market in June, the report is too long, so I will simply say a few conclusions, one is that the trend of the whole crypto market is still upward, $30-40,000 is just a “nap time” for bitcoin, the real resistance level is $100,000; bitcoin The ETF is just a matter of time, no need to explain this; Ether is likely to rise more than Bitcoin in the second half of the year, and will account for more than 50% of Bitcoin’s market cap. Obviously Bloomberg is a dead long, but I still agree with several of his points, not related to faith, the general trend.

One more is that South Korea will begin taxing citizens holding overseas crypto assets starting next year, and South Korean citizens will be required to pay taxes if their account balances in overseas virtual asset businesses exceed $447,900 at the end of each month. Citizens who violate their crypto tax obligations will be subject to a penalty of 10-20% of the unreported or underreported amount. If the underreported amount exceeds $4.47 million, tax evaders may be subject to criminal penalties. Although a lot has been said, I am afraid that it is difficult to implement crypto assets because of their anonymity and anti-surveillance nature. However, judging from the continuous introduction of regulatory policies in South Korea, the speculative sentiment of the Korean people is higher than expected, and from a long-term perspective, a perfect regulatory system and tax collection system are beneficial to the sustainable development of the crypto market.

Finally, NU is finally listed on Coinlist today, which is a project we participated in Coinlist last year, although the return rate is general, it is a good thing to keep ETH; Swarm will land on coinlist on June 14 for token sale, with a unit price of 1.92 knives, the current OTC price is about 40 knives, so it is still worth grabbing. ICP and AVAX will unlock a batch of tokens around the 10th, so those who have spot in hand should pay attention to hedging the risk, and those who want to buy goods can also take the opportunity to fill their positions; ARCX recently got a new batch of investment, including dragonfly, scalar and Alameda Research, so the possibility of listing FTX cannot be ruled out later, so you can pay attention to it.

Orange reads the market

BTC: Bitcoin because of Ma Yilong’s tweets caused by the acceleration of the blocked retracement, in fact, still did not go at the oscillation range, the market will not be reversed at once, in a long trend cycle, after a deep retracement will take a long time to digest, consolidation, repair. after the lowest to 29000 on May 19, as of now, the market took nearly half a month to get out of such a situation, in fact, the repair ability is already very strong. The 4-hour level, above resistance 39800, 44500, below support 36500, 33800.

ETH: 2900 knife is a strong resistance level, so it is considered a normal retracement, as long as it still stands above 2500, the short and medium-term uptrend is still in, so it is still a good choice to open a position on the decline.

BNB: continue to lead the resistance, very strong, buy and wait for 1EO, no need to have pressure.

LINK: link although there is also a pullback, but remember that it is a strong bank coin, plus the LINK prophecy machine boss position is very stable, so the short medium and long term are good.

DOGE: Musk is in, DOGE buy on every drop idea remains the same.

ICP: There is a second batch of seed round unlocked on the tenth, so even if you are hedging your risk, you should do a rebound to reduce your position.

FLOW: announced two consecutive cooperation, now FLOW actually belongs to the seeding stage, the ecological project really has users after the harvest season, in addition today NU listed coinan, it seems that the top resources added to the project listed coinan is no exception, so FLOW listed coinan is just a matter of time.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bitcoin-is-hurting-again-can-musks-words-still-be-accepted-by-the-cryptocurrency-community/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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