​Madman said: When large institutions buy again, this round of correction will end.

Madman Says

For more than 50,000 bitcoins, institutions have no willingness to continue to pour in. Even if it is dropped from 65,000, there is no news of large institutions entering the market. But there is no doubt that Bitcoin has become a part of the financial market, and madmen believe that if Bitcoin really falls below 50,000 again, there will be a large number of institutions entering the market to buy bottoms. The macro environment tells us that the bull market is not over yet , Institutional bull markets tend to be long and slow.

Although there is no large-scale buying by institutions, various products around encrypted assets are emerging in an endless stream. For example, the Bitcoin ETF launched by 3iQ and Coinshares has started trading on the Toronto Stock Exchange; Evolve will launch the Ethereum ETF on May 31. ; Taurus obtained a Swiss securities license; will launch a digital exchange on May 10; Coinbase stock options will be listed on Nasdaq today; 3iQ’s Bitcoin Fund will be listed on the Dubai Exchange in the second quarter; encryption investment company Pluto Digital Assets plans to list on the Aquis stock exchange. Various phenomena show that with the diversified development of encrypted assets, the number of users, asset size and market value will continue to rise in the future, so there is no need to panic too much in the short callback cycle.

Statistics: More than 26,000 layoffs in the encryption industry this year: Jinse Finance reported that according to a press release reported by the media, CoinDesk compiled a list of layoffs in the encryption industry. Lost jobs. [2022/12/8 21:31:13]

The U.S. government is working on a legislative framework for the fast-growing crypto asset, which sources say is in the early stages. If the United States enacts legislation on this, the encryption market will definitely be more restricted. Taking advantage of the barbaric era, comrades hurry to make money.

Last week, the inflow of cryptocurrency funds hit the highest level since March. Most of these inflows were due to the plunge on Sunday. A total of 10 billion U.S. dollars in assets were liquidated during the plunge on that day. Picking up some chips there is a profitable position.

NYDIG also stated that the sharp drop in Bitcoin this time shows that large investors have a "buying mentality" and their platforms are all buyers within 24-48 hours. From this point of view, the bottom-hunting of institutional investors below 50,000 will definitely be even crazier.

The three banks issued tens of millions of digital RMB gift packages on JD.com: According to news on September 28, it was learned from JD.com that starting today, JD.com, Bank of China, China Construction Bank, and Minsheng Bank will distribute tens of millions of yuan in 23 digital RMB pilot cities across the country. Yuan digital RMB gift packs to further activate consumption vitality. The digital renminbi gift pack issued by JD.com, Bank of China, China Construction Bank, and Minsheng Bank covers 23 regions in 15 provinces and cities across the country, including Beijing, Shanghai, Shenzhen, Dalian, Xi'an, Qingdao, Changsha, Suzhou, Chengdu, Zhangjiakou, Xiongan New Area, Chongqing, Tianjin, Guangzhou, Fuzhou, Xiamen, Hangzhou, Ningbo, Wenzhou, Shaoxing, Huzhou, Jinhua and Hainan. (China Securities Network) [2022/9/28 5:57:02]

After the plunge, 20,952 bitcoins were transferred from Binance, which is likely to be done by the organization that picked up the corpse.

For the first time, cryptocurrency trading volumes in South Korea have surpassed stock market trading volumes. This is really too exaggerated. The love of Koreans for cryptocurrencies reflects the anxiety of the people of this country. Koreans are really one of the most desperate people I have ever seen on earth, and they are comparable to our first-tier cities.

Aptos Chief Technology Officer: There are currently more than 200 projects built on Aptos: On September 20th, at the 8th Global Blockchain Summit hosted by Wanxiang Blockchain Labs, the co-founder and chief executive of Aptos Technical Officer Avery Ching delivered a keynote speech on "Aptos Blockchain: Secure, Scalable and Updatable Web3 Infrastructure". At present, there are more than 200 projects built on Aptos, and more than 70 NFT projects are planned to be launched. There are 3.5 million transactions in the network every day, with an average of over 40 transactions every 7 seconds. [2022/9/20 7:07:40]

Goldman Sachs added Bitcoin to its earnings report, comparing the gains of crude oil, S&P, and Nasdaq. This also shows from the side that Bitcoin is entering the mainstream financial market.

The US "Time Magazine" has reached a cooperation with Crypto.com to accept encrypted payments, and plans to launch it globally in July 2021. Media + cryptocurrency = bigger publicity.

According to a Bloomberg report, due to the continued effect of deflation, the decline in commodity prices and U.S. Treasury yields may continue, and the prospect of deflation will deal a blow to investors in hedging tools such as Bitcoin. This Bloomberg is really drunk. A few days ago, I saw that the future of Bitcoin reached hundreds of thousands, and it was a bit leek to publish such a report when the price of the currency fell.

The chain game Eizper Chain has completed two rounds of financing with a total of 2 million US dollars. The seed round was led by Alameda Research: On March 15th, the Solana-based chain game EizperChain announced the completion of 2 million US dollars of financing through seed round financing and NFT issuance. The seed round was led by Alameda Research led the investment, Huobi Ventures, Cryptocom Capital, SolarEcoFund, Petrock Capital, NyanHeroes, ROK Capital, etc. participated in the investment, and angel investors included Jack Teoh, Ivanlam, and Arnold Poernomo.

It is reported that EizperChain is a multiplayer action role-playing game that combines adventure and arena combat. The game is currently undergoing public testing, and the mainnet version is expected to be released in the third quarter of 2022. [2022/3/15 13:58:33]

In March, the monthly on-chain transactions of Bitcoin hit a record high. Firstly, the income of miners hit a new high. Second, the continuous growth of DeFi led to the rapid growth of on-chain transactions. These are all good things, indicating that the market is becoming more and more mature.

Morgan Stanley reports that 86% of the world's central banks are exploring digital currencies. The future global digitalization process is almost inevitable. How could Bitcoin not go to the sky at that time?

Grayscale recently increased its holdings of several small currency trusts, LTP, MANA, and LINK increased their holdings by 1506, 17400, and 2396 respectively. It is so small that it has no reference value, and the aura of grayscale is fading.

Tether has printed another 2 billion USDT, and now as long as it is issued, it will be 1 billion 2 billion. The funds are too rich.

The total locked position of Ethereum Defi is 76.5 billion US dollars. The recent decline is more obvious. The main reason is that the Gas fee of Ethereum is too expensive. , which is also one of the reasons why Ethereum has not taken an independent market recently.

Market Analysis

Bitcoin:

Bitcoin is still oscillating below the 5-day line. Before the trend changes, there is no need to rush to buy the bottom. Today, the concept of blockchain in the U.S. stock market has fallen again, indicating that the old American’s expectations for the market outlook are still not good, so the currency price has not recovered. Before the 5-day line, we still look at it with the idea of callback. The madman predicts that the previous bottom of 50880 will be challenged again, and the short-term strong support level will be around 47000-48000.

Oh, by the way, I have recorded the 5-day line tactics for everyone. If you want to learn, just go to the teaching on the homepage of the official account to watch it~

ETH:

With a wave of bounce, the trading volume is not bad, but there is a high probability that it is a technical rebound at the support level. The overall situation depends on the face of the big pie, so you can also refer to the 5-day line. As long as you can’t stand back, just wait patiently.

DOT:

If it continues to be weak, there is a greater probability of continuing to pull back later.

XRP:

The CTO continues to cash out 195 million US dollars, which is simply a cash machine, but Flare Networks will airdrop FLR to XRP holders in late June, and it is estimated that there will be a rise in the market in June.

LINK:

It is still relatively strong, so take it first.

BCH:

Wu Jihan said in the community that Bitmain held too much BCH in the past and violated the taboo of centralization. It probably means that there is no BCH in Bitmain now, and all the chips have been released, and it will mainly rely on the strength of the community. Some coins rely on the community to rise, but most of the coins are difficult. The community needs spiritual leaders. The madman interprets this content-zce as a bad news, and the dispersion of chips is not conducive to the continued strength of coins without consensus.

The market reacted well to the news. Perhaps the madman’s interpretation was one-sided. At least in the short term, it is indeed much better for someone to speak out to him than to remain silent.

XMR:

The shock is higher.

DOGE:

Trading volume hit a record high yesterday, 130,000 people signed a petition calling on Amazon to accept Bitcoin as a payment method, software retail giant Newegg accepted Dogecoin as a payment option, the Wall Street Journal front page reported on Dogecoin, while Dogecoin was on It became a hot search-zce on various websites, and Snickers Twitter also posted a new packaging with Dogecoin LOGO. Dogecoin is already crazy, and it has driven the money-making effect of the whole people. If it is not done well, it will reach new highs later, but madmen will not participate in such a crazy market.

Others that have not been analyzed are linked market prices, so I won’t analyze them one by one. Today’s small coin ebbs very quickly, indicating that there is a certain degree of panic in the market. If there is a chance to release another wave later, it will be a short-term good opportunity to participate .

That's all for today, see you tomorrow~!

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