Mainstream currencies are consolidating at high levels, BTC is still an important investment target
It was reported last Thursday that VanEck and SolidX will sell "Bitcoin ETFs" to institutional investors, which are actually just Bitcoin trust funds, not real ETF funds that can be listed and traded on the development exchange. As of Sept. 9, the fund had total net assets of $41,400, with minimal investment from institutional investors, representingInstitutional investors do not recognize this niche product。
The "Bitcoin ETF" we have been talking about is similar to the gold ETFOpen-end index fund products, but has been entrusted by the U.S. regulatory agency SEC to refuse to pass it, and has been rejected many times. The latest decision to make is the proposal for Wilshire Phoenix on September 29, and the proposal for VanEck/SolidX in October.
Jay Clayton, chairman of the US SEC, said in an interview with CNBC recently that we are getting closer to the Bitcoin ETF, but there is still a lot of work to be done. He mainly mentioned two points:
1. Bitcoin custody issues;
2. Bitcoin price manipulation airdrop;
These two problems are commonplace and have a long history, but we can see from the case of Bakkt’s launch of physical settlement Bitcoin futures contracts that they are not problems.
Bakkt started to do this in the second half of last year. Although it experienced many setbacks and delays, it turned out to be a success.On September 6, it announced that its BTC custody was officially launched, and the Bitcoin physical contract will also be officially launched on September 23, which means that Bakkt has successfully passed the test of these two issues, handled them properly, and eliminated the concerns of the SEC. It is believed that with this case ahead, the advancement of Bitcoin ETF will also be accelerated, and it is expected to be available soon.
These similar digital currency derivatives are all closely related to BTC, representingBTC has been recognized and accepted by institutional investors. The compliance of BTC-related spot and futures markets provides a compliant and safe access channel for traditional funds, which is very attractive to institutional investors.. Bitcoin has become a giant in the digital currency market, and its market position is difficult to shake. With the admiration of institutional investors and the advent of the BTC halving cycle, it will only become stronger and stronger.
For ordinary investors in the currency circle, there is no BTC in the proportion of positions, which I think is a very scary thing. They all say to follow the trend,Compared with the more deterministic BTC trend, investing most or even all of your capital positions in high-risk altcoins is no longer speculative. It is purely gambling and exposing yourself to huge risksOperation suggestion:
Operation suggestion:
BTC: The daily line level is still in a triangle shrinking order form, which is suppressed by the MA60 daily moving average; the hourly line level fluctuates extremely violently. It first fell to the psychological barrier of 10,000 US dollars yesterday, and then was pulled up to insert 10,500 US dollars. 10200-10400 US dollars fluctuated within a narrow range, and MACD, RSI, and BOLL indicators all showed a consolidation trend. In the current market situation, it can only be said that both long and short sides are waiting. The decisive moment has not yet come, and heavy volume is the key signal. The countermeasures for this kind of consolidation market are either to wait patiently for the direction to come out, or for small positions to fall within the range Suck high and sell high, and bring a stop loss.
ETH: 176-185 US dollars fluctuate in the small area. If it falls below 176 US dollars, it may quickly go to 170 US dollars. However, if the market improves and stabilizes at 185 US dollars, 200 US dollars is very promising. Short-term buy low and sell high.
LTC: 70-73 US dollars range arrangement, this range is the relay position of the previous decline, it needs a lot of energy to effectively break through, follow the trend of the market in the short term.
BCH: 300-313 US dollars are sorted out in the small area, the overall trend is strong, the currency price has a certain support, and the currency that is expected to rebound first in the future will open positions on dips.
EOS: After three consecutive positives on the daily line, it has entered a high-level consolidation trend. The short-term pressure is in the range of 3.9-4 dollars (MA60 daily moving average). rebound, but if it fails to break through for a long time, it may lead the decline of mainstream currencies.
XRP and TRX: short-term volatile trend, follow the broader market, the trend is weak, short-term operation is not recommended.
Platform currency: BNB/HT/GT are all sorting out the trend in the small area, and it is difficult to have a big market in a short period of time. They mainly wait and see or open a small amount of positions on dips. Although OKB rebounded in a short period of time, it is not recommended to chase higher. The sign of standing firm is 3 US dollars.
