Is the crypto market really going bearish? I think this is what everyone has been discussing and speculating about for the past few days.
To be honest, there are indeed bearish indicators showing up now, one is the 120-day SMA that we mentioned before broke down and didn’t see a quick fix, and today is the sixth day, and now the SMA extension looks around 51000, depending on whether it can be repaired in the following week, instead of becoming a difficult position to break.
Another is halfway through May, from the monthly line for the time being looks less than good, of course there are still ten or so days behind, anything is possible, so we can only say that it is temporary.
There is also a media has been a long time not to talk about the gray of the GBTC, here on a chart:.
The blue line in the top half of the chart above is the bitcoin trend, the white line is the trend of GBTC’s corresponding share, the bottom half of the chart above is the difference between the two, that is, the fluctuation of the premium rate, you can see that GBTC almost almost went three months of negative premium, and is in the recent hit a new low, the negative premium rate reached 21%.
GBTC before in the secondary market to take over the main U.S. stocks wine dishes, now is not also some qualified investors or institutions from the market to buy temporarily unknown, but this premium rate reflects the part of the market downturn and the mood of retail investors, of course, including bitcoin these three months of shock, there may also be a factor, not “coin tumor “Muskha, but next door to the U.S. drums, especially technology drums and crypto field of user groups have overlap, the performance of these months is not particularly good.
Including there are also interest rate hike expectations, although I personally am still a bit skeptical of the general environment analysis, but can’t help but have a lot of investors have a consensus in this regard.
So in general, the big cake market is currently weak and sluggish, there is nothing to deny, cottage market a little better, after all, the market value of the ratio compared to BTC or a growth trend, but in fact, you turn down coingecko quotes nearly 7 days of change, green up state is really not much.
But then, the above is so to say, we still need to come to some positive energy, build some confidence.
I am still a little optimistic about the back, on the one hand, some short-term “bottom” signal, such as greed panic yesterday is a direct hit to the state of extreme panic.
On the other hand, the street now a glance or a lot of smart people in the bear market, to my feeling will be a bit like July 2017 that will also be very hot cottage market, and then the bifurcation led to a large pie fast fall, to the market poured a pot of cold water, most people think that has been a bear, the result is instead a reversal up, I personally also have a “obsession “that the real unsustainable top, is up to those die-hard fan of unexpected, they all get off and do not speak, and there is no retail investors dare to mention the bear after the fall from above, but more buy the dip.
So also let’s squat together a reversal it.
In addition to the last would like to say three points.
- From the perspective of Ma Yilong’s farce, the crypto market is very emotional, the coin is still the same coin, but “shouting orders” can make its market value grow, and various FUD rumors can disturb the public’s mind and suppress the price. In fact, without the horse, there are all kinds of news to influence people’s decisions.
Recently, animal coins and dogs are prevalent, in fact, from their performance can better appreciate the emotional market, pure air completely rely on human nature and the game of the market, so their fluctuations are more exaggerated, may be ten times a day may also instantly fall out, that is a day a kind.
And in the face of such a market, many times the current price performance, although the response to the status quo, but also does not say anything, because it is always changing, the current disappointment may when will become frenzy, which is why we will often say to look farther, there is also the old leek often said a phrase called, you just do not sell will not lose [dog head].
Bitcoin price fluctuations, the red part is the loss time, accounting for 2.4% of the total ratio.
- This wave of the bull market should make everyone aware of the importance of holding coins, now mining to hold coins, IDO playing new many also have position requirements, and even some airdrops also want you to hold specific coins before, not to mention these, in the coin circle want to get rich the most critical is what, is in these those coins, even dogs and dogs, their brightest moments you have coins in hand ah, otherwise analysis of what is The most important thing is to have coins in your hands.
The actual fact is that it is a good thing that you really want to go down, there are more opportunities to grow your position, so I think if you have a clear understanding of holding coins or your own strategy, you should not have to get too tangled up with the bulls and bears.
- Here is a paragraph of the earlier collection of words together with encouragement.
When people are crazy, think to yourself why they are crazy, and when they are pessimistic, why they are pessimistic.
Only after thinking clearly about these issues, weighing the pros and cons, and then make their own investment decisions.
If there are no good investment opportunities when, keep learning, learn from the mistakes made by those who have gone before you, learn from their mistakes, and then wait for the right time to make a move.
As Munger said, good opportunities don’t come often and are often reserved for those who are prepared. When there are no good opportunities for yourself, you choose to constantly invest in yourself and update your brain so that your brain can better distinguish what is a really good opportunity and what is a fake good opportunity.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/is-the-market-really-going-bearish/
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