Bad news continues, BTC breaks and falls

特邀专栏作者

2019-11-19 18:01 (UTC+8)

This article is about 1608 words, reading the full article takes about 3 minutes

Yesterday's official media's negative reports on digital currency undoubtedly poured cold water on BTC, and the price also ushered in a small waterfall. So where will BTC go in the future?

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Yesterday's official media's negative reports on digital currency undoubtedly poured cold water on BTC, and the price also ushered in a small waterfall. So where will BTC go in the future?

1. Industry Interpretation

It has been 11 years since Bitcoin was invented. During this period, too many uncertainties have been experienced. Yesterday’s official media’s negative reports on the digital currency undoubtedly poured cold water on BTC, and the price also ushered in a small waterfall. So where will BTC go in the future?

For this kind of problem, there have been many predictions in the market. One of the more optimistic predictions is that Bitcoin can become the world's storage currency. With the vigorous development of cryptocurrencies, and even many governments storing BTC as part of their wealth, BTC is already digital gold in the eyes of many people.

Another possibility of BTC is that it will become a financial product. With the maturity of the financial attributes of cryptocurrencies, BTC is also favored by investors. The status of BTC will be no less than that of stocks, securities, and real estate investment products, and its positioning will be more inclined to financial products similar to precious metals.

BTC's status may also be replaced by other altcoins. Although BTC is the earliest digital currency, it is also the digital currency with the highest consensus. But little has changed in the 11 years since BTC was introduced. Compared with other digital currencies, such as ETH, LTC, XRP, etc., they all have their own bright technology and are constantly being updated.

The worst possibility is that the final end of BTC is to return to zero. Because BTC actually has no intrinsic value, all transactions are for speculation. According to the current form, the possibility of zeroing is not very great, but because there are too many uncertainties in the digital currency, this may not be impossible.

Where will the future of BTC go, what do you guys think?

2. Today's market overview

In terms of market sentiment, according to Alternative.me statistics, today's market sentiment is panic, with a panic and greed index of 32.

3. Distribution of currency rise and fall

Among the top 100 currencies by market capitalization today, the prices of most currencies have dropped. The currency that fell the most was EKT, which fell by about 11%. The biggest increase is still FSN, with an increase of up to 20% today. A small currency such as FSN will draw a door every time it pulls the market, and it is not recommended to follow up.

4. Trading volume analysis

Due to the influence of official news yesterday, the entire market experienced a slight sell-off, and the prices of almost all currencies led by BTC fell. Trading volume was driven by panic.

Note: The USDT on-market discount and premium index is converted based on BTC/USD, BTC/USDT, USDT/USD and other trading pairs in multiple exchanges. It is the percentage ratio between USDT and USD, reflecting the trader's preference for USDT degree. The USDT off-exchange premium index is calculated based on the off-exchange price of USDT and the offshore RMB exchange rate. It is the percentage ratio between USDT and USD, reflecting the degree of crowding of funds entering and exiting the token market. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.

5. Technical Analysis

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30 minutes

[BTC] Affected by the news yesterday, BTC fell all the way to the 8,000 mark. From a technical perspective, it fell below yesterday’s strong support level and ushered in a wave of panic selling. In the medium term, the following two strong support levels are 8,000 and 7,600. It is obvious in 30 minutes The short trend, and has broken. The 5-minute level has a downward trend within the day, but it has stabilized at present, and it can continue to be short after it rises.

To sum up, BTC is still very weak within the day, as long as it is at a high level, it can be shorted. The operation suggests shorting around 8175, with a stop loss of $80.

ETH: ETH has always been stronger than BTC, but there are signs of recession today. The operation recommends shorting around 179, with a stop loss price of 183.

EOS: The trend is stable with a decline. The operation suggests shorting around 3.2, and the stop loss price is 3.3.

LTC: LTC is relatively strong today. The operation suggests shorting around 56.3, with a stop loss price of 57.

EOS

ETH

BTC

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