The market today has been going “terribly”, I should say that the multiple negative and negative sides are in trouble at the same time. Yesterday’s announcement of the so-called three major associations is still forming a blow to the market today, and today is the outbreak of multiple negative news, making the cryptocurrency market experience multiple blows.
First of all, yesterday’s ban on cryptocurrencies by the three major associations continued to ferment today, and started to suppress the market from the morning, causing the market to fall below $40,000.
Then came the news against the trading platform OTC, which made the market start to panic and everyone said that they might not be able to get out of gold in the future, especially the two second-tier platforms Matcha and Bitcoin, but then Matcha disproved the rumors, but unfortunately it was too late and the market sentiment had been brewed up.
Then news of various bitcoin flows into the exchanges came out, making the market more of a panic that everyone seems to be lifting coins to smash, which is undoubtedly adding insult to injury.
Inner Mongolia’s high pressure mining policy also created a very big market pressure for everyone.
Lastly, this evening’s big show, the “death spiral”, the market has reached a point of great panic, in addition to bitcoin, almost all other coins have appeared within 24 hours of the waist of the situation, when the “94” is also just like this.
Today’s technical analysis makes little sense.
Bitcoin, the day so far the lowest is down to $ 30,000, the current volatility is relatively strong, enough to illustrate the mood of the current market turmoil, and in the case of the retracement of more than half, enough to show that the current bull market has almost been declared out, but for bitcoin still have something to say, although the current signs of the bull to bear is very serious, but for individuals, the spot side only out a little bit. On the one hand, because this part of the money is not the money that needs to be used urgently at the moment, itself is used for investment funds, so the individual’s risk tolerance is relatively strong. On the other hand, after the next big market crash, there is a fairly high probability of ushering in a big recovery, even though the height of this recovery may be limited, but perhaps it is still worth a try.
For the little guys, the contract will not be evaluated too much, but the spot side is still based on your risk tolerance. If you can’t take the risk that the spot will continue to fall, don’t make the attempt to wait for a big recovery, the probability of the former is probably greater than the latter. So assess your risk tolerance before you consider taking a risk.
ETH, almost a single day of decimation, the strongest trend of the early coins, turned into the “death spiral” of the perpetrators, when bitcoin in the $ 38,000 horizontal stability, ETH suddenly began to smash the plate, directly down to $ 1700 near, directly again with the collapse of the plate, ETH Gas The cost suddenly skyrocketed, and it can be said that how aggressive the early rise was, how bad the fall was today, which is considered a collective exodus. The number of positions burst today, ETH is not much less than BTC.
The other coins are also similar, basically the same day cut, this situation we still recommend that we pay attention to the risk-based, of course, want to pick up the chips are not opposed, or that, according to their own risk tolerance to.
The majority of people are still just saying that the market has become bearish, but it doesn’t seem to be shouting zero yet?
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Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/the-worst-of-it-most-currencies-have-been-cut-in-a-single-day/
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