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Bitcoin regulatory issues stump the SEC? It does not affect the continued entry of financial giants.



Under the recent violent bull market performance in the cryptocurrency market, Gary Gensler, the new chairman of the US SEC, finally came out to express his opinions in the early morning.

SEC Chairman Gary Gensler has asked Congress to make some key decisions regarding cryptocurrency regulation. Gensler commented: “This nearly $2 trillion cryptoasset market could benefit from better investor protection. I think only Congress can really address this issue, and it’s better to consider whether it brings better protection for cryptocurrency exchanges.” Great investor protection. Currently, there is no regulatory framework in the SEC or CFTC for trading on these exchanges. Currently there are no market regulators around these cryptocurrency exchanges, so there is virtually no protection against fraud or manipulation measure."

We have also mentioned this issue before. The US regulators will definitely take corresponding regulatory measures on cryptocurrencies. However, since cryptocurrencies are a completely different market, the regulators will adopt the same management methods as other financial markets or exchanges. It is bound to be unsafe to manage this market, and according to the chairman of the SEC, it seems that they have not found a more suitable regulatory method, which is rather embarrassing. At present, the entire market is waiting for the regulatory direction of the regulatory authorities. As a result, The SEC said that they are not good at doing this question.

CNBC host: Predict that Bitcoin will exceed the market value of gold by the end of 2022: CNBC host Ran Neuner tweeted that he predicted that Bitcoin will exceed the market value of gold by the end of 2022. It was the fastest damage to a major asset class in history. [2021/2/21 17:36:38]

However, from Gary Gensler’s mouth, we can know that the SEC or the entire US regulators are indeed paying more and more attention to the cryptocurrency market, otherwise they would not be so entangled in the market’s regulatory issues. After all, it currently has a market value of 2 trillion US dollars. market, which is already one-fifth of the gold market, and following this rhythm, the probability of getting closer to the market value of gold will further increase.

The specific regulatory rules have not yet been determined and no organization continues to enter the cryptocurrency market, such as Goldman Sachs and Citigroup.

Investment bank Goldman Sachs is offering investors non-deliverable forwards (NDFs), derivatives pegged to the price of bitcoin and paid in cash. The bank will protect itself from volatility by buying and selling CME bitcoin futures in block trades, with Cumberland DRW as its trading partner.

Chief Strategy Officer of the Human Rights Foundation: Weirdness is one of Bitcoin's defense mechanisms: Alex Gladstein, chief strategy officer of the Human Rights Foundation, tweeted today that being weird is one of Bitcoin's defense mechanisms. Despite the skyrocketing price of Bitcoin since 2009 and its exponential global popularity, many people in power or influence consider Bitcoin to be "weird" and don't give it much thought. At the same time, it has grown and grown. [2020/5/17]

Citibank is also under consideration. Itay Tuchman, global head of foreign exchange trading at Citigroup, said that the bank has not yet made a decision on whether to provide customers with cryptocurrency-related services, but he said that trading, custody and financing are all under consideration. Tuchman said, "We should not do anything that is not safe and healthy. When we are confident that we can build products that benefit customers and that regulators can support, we will enter (the cryptocurrency market)."

As more and more traditions enter the cryptocurrency market, the position of this market in the hearts of regulators will become more and more important. When considering regulatory means, they will not be biased towards one size fits all. It can also be said that the cryptocurrency market will become more and more secure .

The CME Bitcoin futures March contract closed up 3.28%: Jinse Finance reported that the CME Bitcoin futures contract with the highest trading volume in March 2020 closed up $275 today to $8975, an increase of 3.28%. The April, May and June 2020 contracts closed at $9045, $9170 and $9245 respectively. [2020/3/3]

It needs to be emphasized again here that you can see that the first choice for these institutions to enter the cryptocurrency market is basically Bitcoin, plus an ETH at most, and other cryptocurrencies are basically rarely considered by these institutions.

Therefore, the recent violent bull market in the market still needs to be supported by Bitcoin, but Bitcoin obviously cannot go up now. On the one hand, the current benefits for Bitcoin itself are not stimulating enough to directly increase the price of the currency. On the other hand, there are too many long orders in the current contract market, and the dealer will not just let the currency price go up.

Based on this situation, we can draw a certain conclusion, that is, if Bitcoin does not rise, the higher the price of other mainstream currencies, the greater the risk. The rise of mainstream currencies is a problem of liquidity transfer. If Bitcoin rises, it will The liquidity of other mainstream currencies will still drop by then. In short, if Bitcoin wants to start the next wave of gains, it will at least usher in a wave of adjustments. On the one hand, the long-short positions in the contract market will be adjusted to a balance, and on the other hand, liquidity will flow back. After that, Bitcoin is expected to Start the next wave of upswing.

Dynamic | Baidu Index: In the past 7 days, the overall search-zce index of Ethereum has increased by 6% month-on-month, and the overall Bitcoin has dropped by 63% year-on-year: According to Baidu Index data, the overall daily average value of the Ethereum search-zce index in the past 7 days is 5169, an overall decrease of 1% year-on-year. A month-on-month increase of 6%; the overall daily average value of the Bitcoin search-zce index in the past 7 days was 17,416, an overall decrease of 63% year-on-year. [2019/1/12]

Going back to the market, at 8 o'clock in the morning the market had a wave of highs and then fell into a correction. At the lowest point, it fell to around 55,000 US dollars. At present, it has temporarily returned to above 56,000 US dollars. It has rebounded from the market near 55,000 US dollars in the past two times. In terms of performance, this position has certain buying support.

Judging from the medium-term trend, there is no need to worry at present. Last week, the weekly level was adjusted to the vicinity of the Boll middle rail. Last week, a big positive line was pulled up. This week, it has been slightly pulled back, but it has been successfully pulled up. At present, it is still It is in a bullish trend, and it is also above the moving averages of all levels from the perspective of the moving average.

In fact, the recent market is basically at the level of analysts per capita, especially the currencies that everyone has held for a long time have seen good gains. What we can do is to grasp the general direction. On the other hand, a little reminder Let's take everyone's risk and keep everyone sober in such a hot market.

Although other mainstream currencies are currently rising, Bitcoin seems to be lagging behind, but even if you do not trade Bitcoin, you must pay attention to the trend of Bitcoin, because Bitcoin may not rise when other currencies rise, but when Bitcoin falls, other currencies There is a high probability that it will fall.

For intraday support, focus on the daily Boll middle rail near $55,000, and the upper pressure level first looks at $57,000.

ETH: Although ETH has been relatively reserved in recent days, it has continued to break new highs. It broke through $3,600 for the first time yesterday. Slowed down. It’s just that there hasn’t been a decent pullback in this wave, and you should pay more attention to it if it accelerates the rise next time.

We have also said that the reason for the recent rise of ETC is that ETH may have to convert POS to POW in the future, so some of the original ETH miners are afraid that there will be no POS to mine in the future, so they switch to ETC. If so, take it easy.

Platform currency: The current trend of the three major platform currencies is relatively differentiated. For example, BNB mainly follows the trend of the market. In the short term, it is mainly a small correction, while OKB has a relatively large correction in the past few days. It once fell back to around $30 today. Nearly one-third, after the previous surge, a lot of profits from the top fled, and the same was true for HT, but the selection of HRCO nodes in HT was officially opened, so today is a small rebound against the trend, and OKB and HT are still OK Stay tuned.

DeFi: When the capital liquidity in the market is attracted by the old mainstream coins, DeFi has not received much favor at present, but SUSHI has begun to exert its strength in the past two days. There are still stories about DeFi, just keep paying attention.

DOT: The current activity is still not enough, and the traces of fleeing after rushing high are too obvious. It is recommended to wait for a wave of callbacks.


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