Bitcoin is back above $40,000, and the psychology of investors who previously watched the bears panic and dump their chips, and those who bravely bottomed out below should now be very different, as this is a 30% swing back and forth, which is already very volatile for most people. If in the long run, in fact, the best way is to value investment, ignore the short-term fluctuations in the market, because only then can not be driven by Mr. market your emotions, otherwise it is difficult for the average investor to resist their own human nature, toss and turn, lost to the market, take 2018 to now, the big pie has doubled 10 times, few people can run this number, compared to those lying in the market of people, these years of effort instead became negative, so in the market, the choice is greater than the effort, do not try to run the market, but to choose a better embrace.
Several data are still supporting the bull market.
(a) The Bitcoin stablecoin supply ratio is at an all-time low, meaning that there is more stablecoin in the market to buy Bitcoin and a lot of idle money is starting to come in.
that the day before yesterday as the market began to rally, ETH flowed out of exchanges by 668,000 coins, the largest outflow since January 22 of this year.
continued outflows of tens of thousands from the centralized exchange Ether yesterday, a change from the previous highs of inflows, as institutional buying continued to increase.
the Purpose BTC ETF increased its holdings by 428 bitcoins and now holds 18,749, with bitcoins being locked up by institutions on an ongoing basis.
the outflow of over 54,000 bitcoins from exchanges yesterday, worth $2.1 billion, with retail investors selling like crazy and institutions buying and withdrawing in shocking amounts, with fewer and fewer coins in circulation.
Ark Fund buying 160,000 shares of GBTC Bitcoin Trust, with institutions seen both on and off the floor.
Bloomberg strategists remain bullish on bitcoin reaching $100,000 as the supply of bitcoin continues to decline.
Bitcoin arithmetic declining significantly for the 11th consecutive day due to mine closures, with selling pressure abating until the difficulty adjustment is made.
analysts at JP Morgan rating Coinbase as a hold, indicating a rally of more than 60%, a sideways bullish approach to the crypto market from traditional institutions.
Galaxy Digital CEO believes the Bitcoin ETF will be online within a year, an expectation that will keep institutions buying.
In addition to this, it is the regulatory measures of various countries, when these regulations are fully landed, it is the time for the cryptocurrency world to reopen the raging bull market, remember the saying: “What does not kill him will make him stronger!”
The Federal Reserve’s full-speed assessment of cryptocurrency policy and the White House’s rapid research to fill regulatory gaps.
The UK’s Financial Industry Association calling for more explicit cryptocurrency rules to be developed quickly.
the Canadian Securities Commission’s duty to Polonex exchanges to ignore securities laws and the call for regulation.
the Austrian Financial Authority warning unlicensed cryptocurrency brokers.
The Central Bank of Kuwait warns about cryptocurrency investments.
The President of Iran, who said that the mining of cryptocurrencies is prohibited until September 22, a policy mainly due to the shortage of electricity in Iran.
the Governor of the Central Bank of Nigeria, bullish on digital currencies, to rail against unstable cryptocurrencies, which remain under a ban on the crypto industry.
Our country’s attitude towards mining and coin speculation has also been relatively clear, we must participate in the market within the framework.
With regulation starting in various countries, this will be the most difficult period before bitcoin goes to the sky, as long as we can carry it through, the light will come since. In such dark days, a look at how strong the market is now seems to have given us the ultimate answer.
The U.S. state of Nebraska officially approved the Digital Asset Banking Framework Act, making it the second state that can handle licensing for crypto banks; while the governor of Colorado said he hopes residents can use cryptocurrencies to pay taxes, making it the first state in the nation that can pay taxes with various cryptocurrencies. The U.S. is running too fast, the trend is irreversible, and when zf and institutional interests are fully bound in, it’s hard to see a second outcome other than a rise.
The dude who bought pizza 11 years ago with 10,000 bitcoins said he was willing to buy bitcoin with everything he had and would double it if he saw him go down. This dude’s life is so interesting, full of dreams and regrets.
The survey shows that more than 25% of Australian respondents, want to pay their salaries in bitcoin, indicating that bitcoin is also a meat and potatoes in the eyes of Australians, and that the global consensus will be further strengthened, with developed countries coming first and developing countries following to pick up the slack.
Panic index 22, same as yesterday, pretty good.
Gray GBTC discount rate -12.57%, ETHE discount rate -4.33%, and smashed back, short-term rally may not be sustainable, need time.
The USD CNY broke through 6.4, hitting a new high since June 2018, which is good for A-shares and Bitcoin. The appreciation of the CNY has led to a crazy inflow of foreign capital into A-shares recently, and the trend in the second half of the year can be expected. Bitcoin, on the other hand, has become the basis for a sustained bull market in bitcoin because of the constant dollar deflation and devaluation.
Today’s rebound volume is not large, indicating that the market’s selling pressure is not obvious, but 41000-42000 near there are more hedge discs, so short-term this volume wants to break through relatively difficult, this position needs to toss a period, if the volume breakthrough, you can consider high throw to do a swing, down to 36000 near, will be a good opportunity for those who step short to participate.
Strong as an old dog, the whole network of Ether trading volume reached $20 billion, more than Bitcoin, there is currently a certain resistance near 2900, the maniac believes that after digesting a period of profit-taking disk, there is a chance of direct reversal trend, so you can continue to buy on pullbacks.
The slot auction is about to start, and the overall later is also dominated by a shock move higher, not too weak.
Ripple and Oman’s second largest bank cooperation, intended to promote Oman and India cross-border transactions, Ripple did something really deadly enough, this is simply the life of the dollar hegemony, no wonder the SEC so playfully fuck him. Short-term trend hit the pressure level, is expected to shock back down mainly.
Today continued to strengthen, the funds are still in the process of self-help, is currently also gone to the pressure level, is expected to be after the market retracement, is expected to continue to rush higher, the funds pulled quite determined.
One of the strongest inside the mainstream, is expected to take the lead out of the reversal, short-term is also to the pressure, retracement in the consideration of the car.
This wave of rebound is weaker, shock-oriented.
After hitting the pressure yesterday, it changed hands today at the pressure level, and is expected to continue to strengthen for another 1-2 days.
Foreigners said the dog air more and more, the consensus does not know how long it can last, the market rally no funds to bottom him, it is recommended to change positions to operate it.
Mark Cuban announced support for him, has come out of the reversal trend, the back is expected to make a new high, should now be the leader of the whole network.
Rebound to the pressure level, there is a need for shock adjustment.
Not as strong as UNI and SUSHI, it is considered moderate, and the overall linkage is dominant.
Most of the market coins have rebounded to the pressure level, so short-term pressure is normal, the evening if you continue to pull upward burst can be a short term reduction, the probability of a direct reversal of the market is not large, medium and long-term investors continue to lie down and play dead is the best policy.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/no-more-darkness-in-the-market-10-data-to-support-the-bull-logic/
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