Is the bearishness counted out?

The policy shortfall came as expected, following the central mom’s interview with various financial institutions, ICBC, CCB, Postbank and Alipay all released announcements one after another, but the big pancake was not significantly affected by this shortfall.

Short-term (intra-day): up

Medium-term (more than two weeks): up

Talking about hot spots

Following the oops fiasco of Agricultural Bank in the morning, the central mom really came out with a policy this afternoon, interviewing some banks and payment institutions such as ICBC, Agricultural Bank, Construction Bank, Post and Reserve Bank, Industrial Bank and Alipay (China) Network Technology Co. on the issue of banks and payment institutions providing services for virtual currency trading speculation.

The central government pointed out that virtual currency trading speculation activities disrupt the normal economic and financial order, breeding the risk of illegal cross-border transfer of assets, money laundering and other illegal and criminal activities, seriously infringing on the safety of people’s property. Banks and payment institutions must strictly implement the “Notice on Preventing the Risk of Bitcoin”, “Announcement on Preventing the Risk of Token Issuance and Financing” and other regulatory provisions, effectively fulfill their customer identification obligations, and not provide products or services such as account opening, registration, trading, clearing and settlement for related activities. Institutions should comprehensively investigate and identify virtual currency exchanges and over-the-counter dealers’ fund accounts, and promptly cut off the transaction fund payment chain; analyze the fund transaction characteristics of virtual currency trading speculation activities, increase technical investment, improve abnormal transaction monitoring models, and effectively improve monitoring and identification capabilities; improve internal working mechanisms, clarify the division of labor, compact responsibilities, and guarantee the implementation of relevant monitoring and disposal measures.

Participating institutions also said that they will attach great importance to this work, in accordance with the relevant requirements of the People’s Bank of China, not to carry out or participate in virtual currency-related business activities, further increase the efforts of investigation and disposal, and take strict measures to resolutely cut off the capital payment chain of virtual currency trading speculation activities.

This is the last positive I mentioned before in the mustard circle, because the role currently undertaken by payment institutions and banks is the settlement function of virtual currency, also on OTC activities, so the action behind is also basically around how to identify virtual currency OTC transactions, to do timely blocking transactions, freezing cards and other penalties, and then a little more serious, the domestic platform that can provide OTC trading services also had to The final result may be the same as mining, all the sea, domestic users through the overseas platform to complete the match with domestic sellers (buyers), so as to complete the transaction.

Of course, once all OTC platforms go overseas, the trading threshold of crypto assets will be further increased, and combined with the fact that Baidu, Weibo, Zhihu and other platforms have blocked the search related to virtual currency, the crypto market will lose a large number of domestic users in the short term. Most of them are new leeks who lack knowledge and their speculative attributes are very strong, so keeping these gamblers out of the market will be a benefit to the long-term development of the crypto market.

In conclusion, the crypto market is a very risky market, I truly do not recommend those investors who have the illusion of getting rich to enter the market rashly, and I do not recommend participating in contract trading and chasing after the short-term gains of the earth dog project, no matter how much you can earn in the short term, your wealth will definitely match your perception in the end, and you can’t grasp what you win by luck. The crypto market is a long runway, only those who seriously improve their cognition and are not afraid of short-term fluctuations have a chance to runway end, while those who cling to a certain section of gain or loss can not extricate themselves or even give up early should not come in from the beginning.

03 Read the market

BTC: Policy shortcomings came as expected, following the central mom interviewed various financial institutions, ICBC, CCB, Postbank and Alipay have issued announcements one after another, a comprehensive investigation and crackdown on virtual currency trading governance, but the big cake is not significantly affected by this shortcomings, a few waves down still did not fall below 32,000 knives, it seems that this level of shortcomings is not much.

But the market after the major exchanges are likely to close the OTC function, personally I think the impact of the exchange announcement will be a little more, analogous to 94 on bitcoin impact is not very strong, but October 30, 2017 Firecoin and OKEx closed instead stronger. But no matter what, it’s best not to add leverage at this time, short-term to see if 30,000 points can hold, long-term to hold bitcoin spot is still no problem.

ETH: Follow the general market, it is difficult to have an independent market in the short term, but the good thing about ETH than other crypto assets is that he has gained enough consensus, which is enough to support its long-term value of Ether, so it can do long holding ETH can still build a position.

BNB: BNB’s line pattern is completely burdened by the broader market and the decline is much smaller than the broader market, so BNB has more priority to buy in the short to medium term than the big pie and ETH.

LINK: also by the general market tired of the trend, today compared to the ETH trend is still stronger, LINK before fame is the bear market hit out, at present see really hard, worth layout some long-term positions.

DOGE: DOGE trend is much weaker than the mainstream project, more like a cottage, so the risk level of DOGE is currently relatively high, short-term is not recommended to blindly enter, but if there is a significant decline, you can consider building a long-term position, after all, there is Musk the golden sign, DOGE will lead the market after the market has turned good.

ICP: Short-term or not recommended to touch ICP, because the seed round this month has not been unlocked, and the unlocking of the back is a steady stream, so continue to observe and revaluation.

FLOW: FLOW continues to fall today, currently hovering around 8 knives, can see that the short-term both buying and volume are relatively weak, so that FLOW is still not suitable for short-term operations, if there is a medium and long-term holding determination, now it is possible to open a position.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/is-the-bearishness-counted-out/
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