The USDT hearing is approaching, and BTC faces the risk of changing market
The U.S. Internal Revenue Service (IRS) said Friday it is sending warning letters to U.S. cryptocurrency owners advising them to pay back taxes they may not owe. At the same time, it is also starting to develop new guidelines on cryptocurrencies to provide a basis for taxation of digital currencies.
This news should be viewed from two aspects, one is compliance. Incorporating digital currency into the tax system means acknowledging its status as an asset attribute, and it is obligatory to ensure the safety, legality, and avoidance of fraud of assets, which is naturally conducive to the compliance process of the digital currency market. For various exchanges False data transactions, illegal financing of certain projects, etc., are a powerful deterrent.
For the markets, on the other hand, there are mixed blessings. In the United States, where the credit system is sound, the consequences of tax evasion are very serious. Many currency holders will sell their digital currency before specific policies come down to avoid tax payments, which is short-term negative for the market. But at the same time, for those giant whale accounts, in order to avoid being targeted by inquiries in the future, they will choose to continue to lie dormant, reducing market selling pressure for a certain period of time, which is equivalent to locking the circulation, which is conducive to the stability of currency prices.
Of course, the matter of taxation on digital currency needs to be discussed in the long run. The most important thing at the moment is USDT.A hearing will be held on July 29, whether Tether can provide a strong response to the New York Attorney General's Office alleging that it has illegally issued securities. Although theoretically,The USDT stable currency market is mainly in Asia, with negligible usage by Americans, the impact of the hearing should be negligible. However, the current digital currency market is still immature, and it will affect the whole body, especially the news of US regulation will always become the focus of the market, so its influence is difficult to estimate.
I remember that on October 15 last year, USDT was exploited by market makers due to rumors of a crash, which led to sharp changes in the short-term market. Bitcoin and other mainstream currencies. The result is obvious,The banker successfully took advantage of the USDT trust crisis, sold the mainstream currency in his hand at a high price, and then took USDT back at a low price, and then resold it to retail investors.。
It is unclear how the script will go this time. Relatively speaking, the influence should be lower than last time, because everyone understands the routine and the risk of a run is low.The fault tolerance rate of the market itself is also increasing, but caution is still required. If you are worried about risks, you can exchange USDT for other stable coins or BTC to avoid risks. As for those who want to show a wave of futures contracts through this incident, it is better to take it easy, althoughHistory repeats itself, but not simplyOperation suggestion:
Operation suggestion:
BTC: A wave of rise this morning made Dabing stand on the MA60 daily moving average again. Since February this year, BTC has been running above the MA60 daily moving average. During this period of time, the behavior of sorting out around the moving average reflects the power struggle between the long and the short. , the overall upward trend may be reversed, which will seriously affect market sentiment and long momentum.
At the hourly line level, at 8 o'clock this morning, with the intervention of bulls and the support of volume and energy, the currency price once again stood above 10,000 US dollars, but it should not be overly optimistic. Because this trend is exactly the same as that on July 25, the time and point are very consistent, and the dealer's ability to control the market is too strong. In the follow-up, we will see if we can increase the volume again and break through the pressure of 10,200 US dollars. If so, there is a chance to continue to attack around 11,000 US dollars. However, if the volume does not cooperate, after a period of consolidation at a high level, it will be suppressed by short sellers again, and the risk of a decline is inevitable.
ETH: The rising volume can be weak, and it will continue to organize in the range of 200-225 US dollars, following the trend of the broader market.
LTC: The trend is weak. It is only a few days before the halving in August. There is still no sign of trouble in the market. The short-term $100 is still under pressure. Before breaking through, it is not recommended to buy.
BCH: Hourly line level, there are signs of rebound, but the volume is too weak, it is difficult to get out of the independent market, the trend is consolidated in the range of 300-330 US dollars, and the short-term support is 280 US dollars.
EOS: The 4.4-4.75 USD range is arranged in a narrow range, the short-term selling pressure is weak, and the upper pressure is in the 4.8-5 USD range, waiting for the change of the volume energy, you can absorb low and sell high according to the changing circumstances.
XRP: 0.3-0.33 US dollars range consolidation trend, no direction. In view of the long-term market downturn, this currency will be omitted when there is no market in the future.
TRX: Influenced by a series of news from Buffett’s lunch a few days ago, a large volume of transactions was released. The short-term trend is weak. Follow the trend of the market and pay attention to the short-term support of 0.022 US dollars.
Platform currency: BNB is in the range of 28-30 US dollars, keeping pace with the broader market; HT rebounded in the short term, the upper pressure is 5 US dollars, and the short-term support is 4.4 US dollars; OKB has a good upward momentum and hit a new high for the year. It was said that the upward potential is three currencies The largest one, since the rebound has started, there is hope to continue to rebound in the future. The rebound height is in the range of 3-4 US dollars. It is not recommended to chase higher in the short term. If it pulls back to the 2.4-2.5 US dollar range, it can be chased in a small amount, and it will stop when it falls below 2.3 US dollars. damage. GT does not break through 0.8 US dollars, continue to hold.
Finally, if you have any questions or confusion about the currency you want to analyze, digital currency investment, welcome to ask questions in the message area below.
