When gold is no longer a safe-haven, what should Bitcoin do?

特邀专栏作者

2020-03-13 20:03 (UTC+8)

This article is about 2185 words, reading the full article takes about 4 minutes

According to the standard consensus sentiment index, the current market sentiment is stable, the latest index is 0.66, and the market has entered a state of panic. The panic selling behavior in the market has intensified. Once the standard consensus sent

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BCH: The support range of BCH is at the $300 line. Although it has been tested, it has once again proved the strength of the support and may lead the rise in the short term. After BCH fell below the $300 support line, it fluctuated at the $260 line, and then followed the market to fall rapidly, falling as low as $130, and then rebounded to $186, with a rebound rate of nearly 50%.

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current report

Data source: standard consensus, CoinMarketCap

Trend review and analysis of BTC, ETH, BCH

According to the standard consensus halving countdown index, the current block height of BTC is 621,419, and there are only 57 days left before the next halving. The halving of BTC output value is just around the corner, but the halving of BTC price comes earlier than the halving of BTC output value. The market has entered a state of extreme panic. In the short term, the panic will spread further, mining revenue will drop sharply, and miners may sell bitcoins to maintain their normal operations.

Trend review and analysis of BTC, ETH, BCH

According to CoinMarketCap data, the average daily turnover rate of BTC in the past 7 days is 31.66%, which is 10.78% higher than the average daily turnover rate in the past three months, and 7.06% higher than the average daily turnover rate last week. This week, the price of BTC showed a trend of heavy decline, with a weekly drop of more than 50%, and multiple hourly lines fell by more than 10%. The frequent black swan events in the market, the spread of the new crown epidemic, and the oil price war between Saudi Arabia and Russia have pushed the already precarious market to the brink of collapse. This week, the Dow Jones index was blown twice, and it fell nearly 10% on Thursday. The Shanghai Gold Exchange adjusted the margin ratio of gold and silver from 7% to 9%, due to the large fluctuations in gold and silver. Now that there are no safe-haven assets in the market, the idea that cash is king has gradually gained the upper hand, and all assets have been sold off sharply. As a type of risky asset, BTC is expected to be sold off by the market. In the short term, the volatility of BTC will further intensify, and even fall to a new low again, because the panic in the market has not yet been released. However, the panic selling in the market this time will generate a certain amount of bottom-hunting funds. If BTC is pushed up to $6,000, it is expected to maintain price stability.