Faced with such a market, we are all a bit helpless and frustrated, precisely because there is no regulation, so all the ups and downs are market behavior, a market completely supported by emotions, naturally amplifies all human nature, when people are greedy enough to be able to consistently do anything beyond our perception. For example, the recent period of crazy zoo, all kinds of dogs, pigs, ducks, pandas, orangutans, foxes, rabbits; and all kinds of strange silly B, poor B, junk B, loser B, LowB, CNMB are popping up all over the place, these air coins all have one characteristic, that is, they have a bunch of zeros, very little money to buy tens of billions and hundreds of billions of tokens, in addition to being worthless and merely having gambling value. This kind of market is extremely unhealthy, all the funds are diverted to these places to go gambling, the mainstream coins will naturally fall, and with those gambling coins quickly doubled, the market funds simply can not form an effective relay, and eventually will quickly harvest those gamblers, making the market funds continue to dry up, further causing the market weakness, in short, this kind of illogical speculation speculation is extremely harmful to the market, fearing further prolong the sideways or adjustment period of the mainstream coins, and the market, after using drugs, needs more time to repair its body.
The MAS prompted the risk that investing in cryptocurrencies is not suitable for retail investors, that the prices of most cryptocurrencies are subject to speculative volatility, and that the MAS will keep an eye on cryptocurrency developments and review their appropriateness on a regular basis. The risk alert from Singapore is also here. This small country, which has always been a very free country in terms of finance, is now also here to alert the risk, which deserves our attention, and it is only mature to keep your heart calm for speculative cryptocurrencies.
The Indonesian tax authority is considering taxing cryptocurrency transactions. The cake is so big that the trading volume of crypto exchanges in many countries exceeds that of their stock markets, and everyone is making money, so which zf can’t be blinkered? It’s only a matter of time before a global tax is imposed, and at that point, we’ll be the regular army of the financial industry.
UBS is looking into offering cryptocurrencies to the rich as a way to invest. Financial institutions in all countries have an attitude that high-risk products are first open for investment to the rich, because they have the ability to afford it and will not appear to cry and hang themselves because of losing money.
The number of active addresses in Ether hit a record high of 7.94 million. The investors who run into the market are still very ferocious, and the Ether Gas fee is once again in an extremely high state, and it takes about $200 to transfer an account on the chain, which shows the crazy market sentiment.
Nebraska allows local banks to provide cryptocurrency services, and some relatively backward states in the U.S. are starting to fully accept cryptocurrencies, which are far more popular in the U.S. The time has come for U.S. investors to fully enter the crypto space.
CryptoQuant CEO believes we will soon see some institutions buying bitcoin, such as Facebook. since February of this year, bitcoin is in the 48,000-60,000 range and multiple institutions have hoarded bitcoin, with about 154,000 bitcoins flowing from Coinbase to multiple cold wallets. The more important statistic here is that institutions bought 150+k bitcoins in the high range, indicating that the future of bitcoin remains certain. Yesterday Zuckerberg named his goat “Bitcoin”, combined with the big man’s words, could this be an early release of some kind of signal?
Urban Tea, the parent company of a Chinese tea company, Mingyuntang, has announced that it is accepting Bitcoin Ether and Dogcoin payments. This appears to be the first company associated with the country to accept cryptocurrency payments.
With Tether printing $2 billion, the speed of money coming in is still possible.
The gray GBTC and ETHE discounts reached -18.88% and -10.37%, respectively. Bitcoin continues to be highly discounted let’s not talk about it, and this time ETHE was also smashed, indicating that institutions think that Ether will also see a period of adjustment in the short term.
From the overall market state, the crazy zoo and ICP diversions mainly come from the previously skyrocketing junk mainstream coins, not the value mainstream, so today’s panel can see that bitcoin and ethereum have fallen significantly less than other mainstream coins, so the market after bitcoin will most likely continue to shake in the high platform, while the pre-surge junk mainstream coins will have to continue the weak pullback and should not be involved.
It has not yet effectively fallen below the 5-day line, so it is still held in an uptrend. The number of centralized exchange Ether fell to a new low since 2019, the fewer exchange coins, the more difficult it is to smash the disk.
High level oscillation, continue to wait for the complementary rise, there is a certain short-term rebound expected.
High level oscillation is dominant, the daily long lower shadow, no volume, panic selling pressure is not big, there are rebound expectations.
Basic fall below the 5 day line, short-term rebound 5 day line can be considered first out.
High level oscillation trend unchanged.
Down a bit, the rebound to consider reducing positions.
After the upward attack was brought down directly by the market, indicating that the capital strength is not strong, or intentionally induce more, short-term should be avoided.
The decline is relatively small, there are opportunities in the market afterwards.
The fall back is large, the upper hedge increases, the capital behind the probability will continue to flow out.
Previously prompted to reduce positions at high levels, the short-term will continue to be vulnerable to shocks.
The decline is large, and it is expected that funds will continue to flow out.
The current market value of 1.4 trillion yuan, according to the market value chart can be ranked third, the first day of trading billions of dollars, which is why the maniac thinks he will suck blood, he and the animals together to bring the mainstream collapse, short-term no sustained speculation is expected, and so on those private equity (nearly 1,000 times earnings) are gone, and then consider value investment.
Google index shows public interest in dogcoin exceeds bitcoin for the first time, dogcoin has become a global phenomenon, Musk is credited with it, and this afternoon he launched a poll on Twitter, can dogcoin become a payment method for Tesla? In any case, there are already a lot of chips in the upper hedge, and it’s hard to get new highs in the short term, with shocks dominating.
Goldman Sachs executives resigned because of the dog coin outrageous wealth, it is estimated that there are also many investors in the country because of the shit portfolio of speculation outrageous wealth, I only hope that the outrageous wealth of people can know how to delay the enjoyment, with cognitive guard this fortunate wealth.
High level shocks dominate.
The basis for a sustained market crash does not quite exist, the mainstream coins will continue to shake more, the gambling speculation of speculative coins still exists, and only when they are broken will the market have a chance to regain strength. I wish the bitcoin, which is worse than a pig’s dog, the best of luck in getting out of its misery.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/mainstream-coins-are-only-down-not-up-pigs-and-dogs/
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