Now countries are starting to figure out how to regulate cryptocurrencies, the underlying reason is that cryptocurrencies have affected the financial stability of every country. Previously, Madman once told you that the trading volume of Coinan in a day has exceeded that of the South Korean stock market and the Chinese stock market, and this impact is very obvious in the brokerage houses. Madman asked his friends in the brokerage houses, and they said that the number of accounts opened recently has dropped significantly, on the one hand, the stock market itself On the one hand, the stock market itself is not strong, and on the other hand, cryptocurrencies are too lucrative, and everyone is speculating on them, resulting in the country’s lack of revenue in this area. The traditional market is being subverted by the crypto industry, which is the fundamental reason why regulators in various countries are starting to panic, followed by unscrupulous regulation of the crypto market.
But these do not need us to panic, because the interests of the world’s largest economy, the United States, have been fully penetrated, and this thing is also very understandable, the dollar itself has hegemony, if you do not want to be subverted, only choose to control what may hit the dollar, while other countries are instead barefooted and not afraid of wearing shoes, anyway, embrace or not have a strong voice in the currency. That’s why there is now a pattern of multiple parties fighting for supremacy. With the support of the United States, the cryptocurrency circle must not be cool, but rather the general trend is to go further and further until one day they pull bitcoin to 200,000, 500,000, or even 1 million dollars, forcing countries to comply, thus completing the market relay.
Our country is the first to promote digital RMB, also has its own logic, we will hope to gradually control local areas, such as the Middle East, Africa and other countries to use the digital RMB, using our strong export capacity, and constantly enhance the digital RMB map, so as to achieve from the local influence on the dollar hegemony, expand their own base, and constantly erode the dollar power, which is a bit like the Red Army’s fighting method of occupying base areas back then. Therefore, each country’s thinking is different, so the treatment of cryptocurrency regulation will not be consistent, what is certain is that with the support of the United States for the crypto industry, cryptocurrency will flourish, we as people who speculate in coins, only need to care about whether the money in our own pockets can increase, as for the above, just leave it to those wise men, with the knowledge of the big picture, in order to understand the importance of holding bit coins is important.
Apple is looking for people in the crypto field, and the job requirement is to understand digital wallets, Fast payments and cryptocurrencies. This requirement is obviously Apple’s move towards crypto payments, and all Apple phones may offer crypto wallets in the future so that people can pay with cryptocurrencies. Whether it’s Paypal, bitpay, or binance pay, all are helping crypto payments out of the loop, and this trend is irreversible. By the way, it’s really convenient to book a hotel through cryptocurrency with Coin.
The SEC started reviewing applications for SkyBridge as well as the Fidelity Bitcoin ETF, and it looks like the final countdown is on for the Bitcoin ETF to pass, which Madman believes should be passed quickly since Gary Gensler became chairman. Currently, the SEC has been working with Congress with the intention of regulating cryptocurrency exchanges, while the SEC chairman has also hinted that cryptocurrencies will face tougher regulation. Everything is going towards compliance and all trends are under control.
Carl Lcahn, the Wolf of Wall Street, is studying how to enter the cryptocurrency market on a large scale, and also intends to invest more than $1 billion in some kind of cryptocurrency. The bigwigs are entering the cryptocurrency market in a frenzy, and those who send bearish shouts every day are not sure whether they have evil intentions or not enough knowledge.
Asset management firm Simply intends to issue a portfolio with 15% going to GBTC purchases in the secondary market. GBTC has become a new allocation asset in the secondary market for U.S. stocks, and the discount rate is expected to gradually decrease in the future, with money still entering like crazy.
Fidelity Bitcoin Fund has attracted over $100 million in capital and these are incremental to the market.
Cowen Digital Asset has raised $46 million to invest in cryptocurrencies, and the firm has $12 billion in assets under management.
More than 75% of young people in Latin America are interested in cryptocurrencies, and the scariest thing about the crypto market is not its volatility, but the fact that it is all young people who love the crypto industry, a market that can be called the future.
Coinbase’s CFO said that the growth momentum of cryptocurrencies is continuing and Q2 results will exceed Q1. All indicators say that after the price of the currency has fallen, the market has more than enough money and people, so there is theoretically no pressure to break through the previous high, so the possibility of a V-shaped reversal is fully present.
57.46% of bitcoin addresses have not moved for more than 1 year. These pattern-locked bitcoin addresses are the very foundation of bitcoin’s path to sky-high prices. Don’t look at bitcoin’s trillion-dollar value, but actually the circulation is really pathetic.
The Panic Index 27, which has recovered slightly, is still in panic. This is evident from the borrowing rate in Defi stablecoin, which has hit an all-time low, meaning there are a lot of stablecoins in the market, no one wants to leverage their investments, and people are in a state of panic, which is instead the time we should be greedy the most.
Tomorrow at 4pm, the big option delivery, the maximum pain point is still 50,000, if the sell-side institutions don’t pull up above 44,000 by 4pm tomorrow, it will mean sky-high compensation. From the current plate, 29000 pull up the selloff has been almost digested, at this time the sell-side institutions do not need to spend too much money to reduce losses, the maniacs think they will probably go to pull the plate. Whether it’s technical or option viewing, a significant rally today to tomorrow is a probable event, just hold your coins patiently.
Goldman Sachs milked ETH again and believes that Ether will overtake Bitcoin. Ether has indeed been very strong lately, with a reverse pack trend, and it is reasonable to hold patiently.
Hold for the rise, profit taking and meat cutting is almost digested.
Lawsuit entangled, linkage upward mainly.
Still strong release, entering strong pressure zone, with the need for shocks.
Hold is dominant.
Horizontal for 2 days in a row, expected to continue to move higher.
Selling pressure reduced, some rebound expected.
Continued strength, touching pressure levels, with a need for shocks.
Intraday completion of the bottoming out, the 5-day line is not broken to hold, waiting for new highs.
Today the market is much stronger than expected, most of the coins yesterday all hit the pressure level, today at the pressure level to complete the intra-day retracement, indicating that the long take is much stronger than the panic short, at this time the market, should continue to be bullish.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/is-there-a-v-shaped-reversal-in-the-market/
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