A breakthrough in Bitcoin's $11,300 range requires a lot of energy
The biggest news in the currency circle last weekend was the central bank's digital currency. On August 10, Mu Changchun, deputy director of the Payment and Settlement Department of the People's Bank of China, said at the third China Finance Forty Forum,The central bank's digital currency will be launched soon, and will adopt a two-tier operating system DC/EP (digital currency and electronic payment), that is, the upper level is the People's Bank of China, and the second level is commercial institutions. The central bank does not directly issue digital currency to the public, but the central bank redeems the digital currency to various commercial banks or other legal operating structures, and then these institutions exchange it to the public for their use.
From the point of view of time,The central bank's launch of digital currency is the need of the development of the times, as early as 2017, the Institute of Digital Currency was established to engage in research and exploration in related fields. Since the beginning of this year, banking institutions in various countries have deployed digital currencies one after another. JPMorgan Chase issued JPM Coin, especially the launch of social giant Facebook’s Libra stable currency project, which has aroused widespread attention and heated discussions in the world.The innovation of financial technology, the development of blockchain technology and digital currency have forced the acceleration of this process。
In addition to its main role in traditional finance, social and economic consumption, foreign exchange, international trade, etc., the central bank's digital currency also plays a role in promoting the digital currency market.
In the current currency circle, deposit and withdrawal channels are restricted, except for the unregulated USDT stable currency, which occupies more than 80% of the market share, and it is difficult to get rid of it. This is due to historical reasons, but it has always been outside the supervision of the state, often becoming a hotbed for illegal purposes such as money laundering, market manipulation, tax evasion, and crimes, and it is difficult to effectively supervise.
The launch of the central bank's digital currency can completely replace the use of USDT,Based on this, controlling the deposit and withdrawal channels of the exchange can bring the exchange into the scope of supervision and conduct compliance supervision on the exchange, which is conducive to bringing the digital currency market into a process of compliance from the source. at the same timeTaxation matters on the digital currency market, can also be expanded effectively. The GUSD and PAX stablecoins launched by the United States at this stage are attempts and layouts for the market. In the future, the central bank’s digital currency may be further launched to open the era of comprehensive supervision.
Blockchain and digital currency, if you want to develop further, in addition to your own technological breakthroughs and market application promotion,If you want to fundamentally enter mainstream social groups and expand market share, you still cannot do without the major premise of supervisionOperation suggestion:
Operation suggestion:
BTC: After the waterfall last Saturday, it has been oscillating between small groups, and it has been finishing around the 4-hour MA60 moving average. As long as it does not fall below this moving average in a short period of time, the big market will still go up, and the short-term strong support is 11,000 US dollars. The first pressure is 12,000 US dollars. On the hourly line, the disk fluctuates up and down around 11,300 US dollars, the volume and energy are not obvious, there is no directionality, and the wait and see is the main focus.
ETH: Weak rebound trend. The daily MA180 semi-annual line constitutes short-term support. The rebound pressure is 220 US dollars, and the short-term support is 200 US dollars.
LTC: 80-90 US dollars to consolidate the trend, the disk rebound strength is weak, short-term layout operation is not recommended.
BCH: The market rebounded slightly, and with the volume energy, it recovered the decline since August 9. The short-term support is 325 US dollars, and the upper pressure is 360 US dollars.
EOS: 3.8-4.3 US dollars range consolidation, the short-term market trend is weak, 4 US dollars is the short-term support point, 3-3.6 US dollars range chooses an opportunity to build a position.
XRP and TRX: The trend is weak. In the short term, the stability of the support level will continue to be tested. XRP is at 0.3 US dollars, and TRX is at 0.02 US dollars. It is not recommended to follow up in the short term.
Platform currency: The overall trend is in the range, and BNB fluctuates in the range of 24-40 US dollars. HT continues to fluctuate upwards, but its volume is extremely weak. Pay attention to the risk of retracement. The short-term support is 5 US dollars, and the strong support is 4.24 US dollars; The U.S. dollar is under pressure, and we will pay attention to the follow-up news of GT in the short term. Once there are plans such as the destruction, repurchase, and lock-up of platform coins such as BNB/HT/OKB, there will be opportunities to rise.
When Bitcoin was in range consolidation, mainstream currencies and altcoins ushered in a wave of small rebounds. This is a good sign, indicating that altcoins have signs of rebounding. However, in the current overall market, BTC is still the focus. You should not blindly chase high altcoins. You need to pay attention to changes in BTC trends and cautiously buy bottoms. In addition, if you have any currency you want to analyze, welcome to ask questions in the message area.
