Bitcoin’s Worst Month Drops 37%, Ether Still Worth Watching?

The last day of May is also the day to close the month, and this month should be considered very bad, with Bitcoin down 37% on a monthly basis, fearing the worst in a decade.

This morning, the subway through the security machine has been ringing, the security staff searched for half a day did not find metal, and finally found that the original cause of the noise is the steel will of my coin holders. Go Hodlers!

The last day of May is also the day of the monthly close, and this month should be considered very bad, with bitcoin down 37% on a monthly basis, the worst in a decade.

The last day of May is also the closing day of the month.

Bitcoin's Worst Month Drops 37%, Ether Still Worth Watching?

I probably marked the same monthly decline in history is relatively large (20-30 points), most of my friends can have a memory of a bear market in 18 years, respectively, occurred in March 18 (just go bear) and November 18 (bear market bottom area), the other is 312.
For most retail investors, I would recommend more to see to analyze the monthly and annual lines, rather than the minute hourly line, from the monthly rise and fall can get a different perspective, you will find that September 2017 really have happened what, the month only a total of 7.44% decline.
And 312, then soon out of the leverage after the price repair, so from the monthly line back on the lookout on the okay, of course that time I think more blow is in the public mentality, especially the old wine dishes, has seen growth on the future with the promise of this time is almost a return to the liberation, back to the area near the bottom of 18 years, which triggered the degree of collapse, I think it is more than 94, more than now We are still above the all-time high of the last bull week the pain level of this situation is higher.
Interested can then compare the data above, generally speaking already very miserable situation, short-term risks are basically released, behind either with a rally or reversal, or the energy to go further down will also become limited, including here turn the following glassnode recent data:.

Bitcoin's Worst Month Drops 37%, Ether Still Worth Watching?

In May, the chips have been transferred from the hands of short-term speculators to Holder (according to the current volume does not exclude overseas institutional funds these) hands, so my personal prediction June is an upward state, as to whether we are right this time next month to see, interested can also leave your thoughts below.

Bitcoin temporarily said here, to the following month or two may be more can pay attention to the next is the Ether?

In addition today is also to mention the Ether enthusiasts previously more concerned about a good point – eip1559 proposal, see the foreign media said it seems that today also uncovered a big bug, can can, according to previous information, is expected in July this year (may be the middle) will be online, and should be added directly to a hard fork upgrade, so the chances of skipping may not be too big.
At present, it is also a month or so, here is a reminder, eip1559 change is mainly the fee charging model, the intention is to reduce and smooth out the transaction costs of the main network.

Bitcoin's Worst Month Drops 37%, Ether Still Worth Watching?

Now the miner’s revenue is the block reward + the user pays the Gas fee, 1559 after the block reward remains unchanged, the user pays the gas into two parts, one is the base base fee, one is the miner’s tip, where the base fee part is directly destroyed.

Whether this new model is effective in reducing gas fees, it is difficult to say, in its mechanism design, if the network is a congested state, the miner fee part still exists bidding, give a low tip or slow, especially now on the miner side, there is a mechanism called – miner extractable value (MEV), it has a special program to set up transaction sorting to automatically rank the orders that give a higher price It may be somewhat useful for third-party tools such as wallets to be able to provide users with more appropriate fee projections, but whether it can really be reduced, we can only wait to see after the launch.

Some users also said this, compared to eip1559, the most effective way to reduce gas or ethereal discount, like the recent gwei has been hovering in the teens and twenties.

But the market many times also does not care about the truth, the most important point here is the destruction, in the inflationary state to join the deflationary mechanism, but also eth for the first time really from the token economic level and the fundamentals of the ethereum network correlation, from the level of investment concerns or quite meaningful.

And if the actual data is better, it is also possible to make eth turn to deflation (destruction is greater than the whole network increase) so as to further enhance the value of eth, before you can hear the voice that the market value of eth will surpass that of bit, which means that people are more enthusiastic about eth.

So you can still pay more attention to the next, especially if there are new friends do not know much about these, more or less first have an impression of it, if the next few dozen days in the circle of the big V and mainstream media more to mention, then we should pay attention to whether there is the possibility of getting things done, ha ha.

But to say that eip1559 on the network value of the actual enhancements, may also lie in the longer term, to officially migrate to eth2.0 to POS before, there is a period of time is POW and POS have output (may now also count it, just pos output part not really circulation), equivalent to inflation rate is still a little higher, but after the transfer of POS only collateral output, inflation rate may be able to reduce To 1 point near, of course, it is still early to say this, after all, 2.0 inside more landing future do not know how many times to jump, a little to know the next, but also look farther.

Conclusion

The crypto world does not seem to have such a problem, and the potential for development space is not small, but there are some aspects that are suitable for lying flat, such as being slow to react to short-term fluctuations, which may be spent, just like the above changes from some monthly lines can not see what happened in the middle, and I heard that it is better to lie down and buy, not easy to be cut, haha, good luck in June ~

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bitcoins-worst-month-drops-37-ether-still-worth-watching/
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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