Super bearish! Total ban! BTC repeats 94 market

The crypto market has surged and plunged in a short period of time, and high returns are accompanied by high risks.

Super bearish! Total ban! BTC repeats 94 market

A representative historical event occurred on September 4, 2017, when the central bank joined seven ministries and commissions to comprehensively call a halt to ICOs, qualifying them as illegal financing practices, domestic exchanges were also shut down, and digital currencies plummeted across the board. Yesterday, the China Internet Finance Association, China Banking Association and China Payment Clearing Association jointly announced that the code of conduct for virtual currencies and related business activities should be properly understood and that the country is gradually tightening the management of cryptocurrencies to develop a suitable regulatory system.

The cryptocurrency market has surged and plummeted in a short period of time, with high returns and high risks at the same time, and Akong has always said that the integration with regulation is the top priority.

Looking back at the changes in the crypto industry in the past year, in the process of the bull market driven by institutions, various hotspots in various sectors have emerged, which are accompanied by various illegal deceptions, such as various types of animal coins, the purpose of the online is not pure, and various chaotic phenomena will certainly be subject to regulatory attention.
You can’t have liquidity, security and high returns, you have to choose one or two, you can’t have everything. In terms of functionality, bitcoin was born in the context of blockchain technology, a digital currency that can bypass the dollar as a global payment settlement system, peer-to-peer payments, the role of bitcoin cannot be denied, bitcoin is the only currency anchor for the dollar to choose in the future.

The emergence of a new windfall will face questions, but bitcoin as a digital currency, its value does not necessarily need to be backed by physical economic objects, the currency is generated from trust, today’s bitcoin is not as fragile as it was at the beginning, the current 40% pullback will be a very comfortable position to open a position, as for the future market up or down, can not predict the future, we can do is to enjoy the rising gains at the same time, prepare enough bullets to add positions when falling, free money investment will not be at a loss when the plunge.

Market analysis

BTC.

The end of the bull market bearish news, the coin price is only a short period of time affected, waiting for the big cake to stop rebounding and will be a wave of the market, 40,000 knives in batches into the field. Resistance level: 45839 Support level: 39100

ETH.

The coin price is now a small rebound, the daily line shows that the short side occupies the market, this retracement is close to the bottom, the long side is not clear yet, extreme quotes pay attention to position control. Support level: 2946

BCH.

Linkage to the broader market, hourly coin price gradually rebounded.

LTC:

2-hour line double pin rebound, short-term continuation of the oscillation, waiting for further adjustment of the coin price.

BSV:

Coin price bottoming out and rebounding, be wary of bottoming out again. Support level: 235

DOT.

Basically see the bottom, hold the coin patiently.

Small Coins

Polygon, Solana, Fantom ecology also have a lot of gold-sucking action, recently the BSC ecology head project is weak, lock volume keeps losing, yield plummeting, 2 layers will be the hot spot behind, when ethereum congestion and gas fuel cost are solved, users will always come back to ethereum, crushing all public chains.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/super-bearish-total-ban-btc-repeats-94-market/
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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