Musk’s power is gradually weakening

Cryptocurrencies will be more resilient than other capital markets in the future, rising more and falling less than other markets will become the norm as money still pours into this emerging market like crazy.

Musk's power is gradually weakening

The Fed’s monetary policy guidance has been the global financial market’s wind vane, some recent Fed policies are pointing to, tightening expectations are intensifying, yesterday, the New York Fed announced that it will sell ETFs in secondary market corporate credit instruments on June 7, this thing is actually selling corporate debt, due to the epidemic, the U.S. is involved in some corporate debt to help companies get over the hump, and now it is starting to recover , does it signal the imminent arrival of tapering? According to a Federal Reserve official, tapering corporate debt has nothing to do with monetary policy, and the Fed is still buying $120 billion of government securities each month. But the dollar index saw a sharp strengthening yesterday and the stock market saw a sharp retreat, indicating that market expectations of tightening still exist, so today’s retreat in cryptocurrencies is not considered a surprise, although Madman still believes that cryptocurrencies will be more resilient than other capital markets in the future, and more rises and fewer falls than other markets will become the norm, as money is still pouring into this emerging market like crazy.

The shit-stirrer that triggered today’s crash is still our old friend, Musk, who tweeted a big morning message: Bitcoin Heartbreak. Then he paired it with a picture of a man and woman breaking up, which probably means breaking up with bitcoin. Many people speculate that it will not be Musk to smash the plate, so it triggered a wave of panic, and later in the message to reply to the netizen remarks, said he also want laser eyes, simply schizophrenic, it is unbelievable, the maniac estimated that his laser eyes, should be given to the dog coin. Anyway, this person is quite boring, before Musk has been angry by the SEC, two violations of court orders, both because of its tweets to affect the stock price, so Musk is actually a stove to this business play, which is why he can accurately attack every time he tweets at the key nodes of the change in the market, there is a previous record ah.

Sun Yuchen reacted very quickly to this and said he would buy all the bitcoins sold by Tesla and Musk, something we don’t evaluate anymore, picking up the richest man’s plate is not something that just anyone can pick up.

The mayor of Miami also mentioned in an interview that Musk was one of the factors that triggered the BTC volatility and that he had bought bitcoin and ethereum. The long-short divergence between the big boys is ongoing.

Bloomberg’s report, on the other hand, argues that bitcoin fundamentals remain intact and should return to the $100,000 track, with a bull market likely to begin in June. The logic is that bitcoin supply is dwindling and a lot of retail and institutional money has been flowing into bitcoin.

The Fidelity executive believes that bitcoin will eventually bottom out above $23,000, which is the worst-case scenario he foresees. The big institutions are basically maintaining the original bull market call with a foot of faith.

Crypto platform Celsius reports that it now holds 100,000 bitcoins, accounting for 25% of total assets. Another big cryptocurrency holder, 21 million bitcoins, can afford to have everyone so locked in?

India’s HDFC Bank has withdrawn its “warning against crypto trading” email, so it seems that the Indian side has already started to change its mind about the crypto industry, and it may be a new scene when all the San people infected with the new crown will speculate on coins at home.

The data shows that the Coinprint mining pool flowed 3,271 bitcoins yesterday, and these big pies are likely to rush into the market, worth $120 million. There was also a long dormant whale address that suddenly transferred 900 bitcoins out at a cost of $13.50 each, a profit of over 2,700x. These coins will likely be a short-term sell-off, but the good news is that the volume is not too large and still within manageable limits.

SpaceX will cooperate with SpaceChain to send the first Ether node to the International Space Station. Cryptocurrency solves the problem of global currency, the future Earth will become a whole with a unified currency, and with the continuous development of aviation, the concept of country will become the concept of planet, and blockchain technology will become one of the most basic and core technologies in this.

Anchorage and BankProv, a 200-year old American bank, launched Ether mortgage. What Bitcoin once went, Ether all followed, and the future of Ether is still promising, just like the Gemini twin brothers’ prediction yesterday, Ether may reach $5,000-$10,000 at the end of the year, and will reach $40,000 in the long run.

Panic 27, in the medium to long term is still in a position where opportunities outweigh risks.

Market Analysis

Bitcoin.

Bitcoin’s pullback today is much deeper than expected, which is related to Musk’s smash with his mouth, the expected rise in the dollar index due to tapering, as well as the miners and the far-off address of the anomaly, but the overall bitcoin bottom box oscillation pattern has not changed, today and tomorrow if smashed again, 34000 will be a good bottom position, but given that today has been smashed for a day, the short-term supply consumption has been about the same, it is likely to stabilize directly higher since then, in short 37000 and 34000 are two good medium and long-term position-raising points, you can participate on your own according to your position and risk appetite.

ETH.

Today’s retracement is not small, the recent market volatility, so this retracement is also quite acceptable, the pattern has not gone bad, but there is the possibility of short-term continue to step back on the support near 2500.

DOT.

The retreat is large, if the rebound is not strong later, the short-term strong market will come to an end.

XRP.

The pressure level is blocked to fall back, basically it is still a linkage market.

LINK.

After a large pullback, support at 26.5, patiently waiting for opportunities.

BSV.

Speculative funds are running away, short-term or difficult to have sustainability, except that the overall pressure of the selloff is not large, shock-oriented.

ADA.

Pressure level was blocked back down, and now hit the support, short-term rebound is dominant.

XMR.

The fallback is not large, the overall trend is still oscillating higher.

ETC.

Weakened, it is difficult to have a big independent rise in the short term, linkage is dominant.

DOGE.

coinbase listing after the high fall, coupled with the collapse of Musk’s persona, dog coin consensus will not be a coincidence? These two days do not go very well, sustainability is open to question.

FIL.

The iron tree blossomed and started to rebound, but this coin has too many retail investors hedged, up a little bit of the whole network excited, it is difficult to continue to go high.

MATIC.

Back to the support, the fundamentals are still quite good, the chain lock position in May grew 1102%, the total value of the BSC chain lock position decreased by 50% during the same period, the potential is still greatly.

SUSHI.

Retracement without volume, patience and wait for the rebound, the normal selloff triggered at the pressure level.

Mask this voice shouted in the market pressure of the largest area, many investors take advantage of the return to quickly throw away chips, this space for time trend is also quite good, the back can be faster to end the horizontal time, 40,000 up just a matter of time, the process rugged some just.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/musks-power-is-gradually-weakening/
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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