The downward pressure on the economy drags down the halving market
Review of last issue
Review of last issue
BTC: Pay attention to whether BTC can stand at $7,000. The external environment has not improved significantly, so it is necessary to guard against the rapid decline of BTC if it fails to stand at $7,000. After testing the support of $7,000, BTC rose as high as $7,460.
BCH: Observe the growth of BCH's trading volume between $240 and $250. If the trading volume is effectively enlarged, it indicates that there is effective support for the upward trend. BCH rose to a maximum of $280 supported by the halving.
Highlights of this issue
Highlights of this issue
Summary: According to the standard consensus sentiment index, the current market sentiment is frenzied. The latest index is 2.33. When the market enters a frenzy, there is no significant increase in turnover. Recently, external influences have been greatly affected. Oil, the US unemployment rate and the US's re-release of US$2.3 trillion in loan lines all affect market sentiment. However, the halving of BCH and BSV did not promote the price increase as expected, the market reaction was relatively flat, and bearish sentiment gradually emerged.
BTC: Pay attention to whether BTC can regain $7,000. In the short term, BTC has a certain demand for callbacks, and the actual economic situation has not yet improved, and the market still has a strong willingness to short.
BCH: BCH needs to increase the price to attract the return of computing power, but the upper pressure is relatively high, the price support point is $220, and the pressure point is $250.
current report
As of the release of the report (April 10, 2020), the total market value of global digital currency assets this Friday was US$204.067 billion, a year-on-year increase of US$14.318 billion, or 7.55%. The 24-hour market turnover was US$127.511 billion, a year-on-year decrease of US$16.289 billion, or 11.33%. This week, the market is shrinking and rising. The overall volatility is relatively large, and the market sentiment is obviously affected by external influences. The halving of BCH and BSV has not aroused the enthusiasm of the market to open long.
Data source: standard consensus, CoinMarketCap
According to the standard consensus sentiment index, the current market sentiment is frenzied. The latest index is 2.33. When the market enters a frenzy, there is no significant increase in turnover. Recently, external influences have been greatly affected. Oil, the US unemployment rate and the US's re-release of US$2.3 trillion in loan lines all affect market sentiment. However, the halving of BCH and BSV did not promote the price increase as expected, the market reaction was relatively flat, and bearish sentiment gradually emerged. At the same time, according to the proportion of Bitcoin in the total market value, the proportion of Bitcoin's market value has decreased to a certain extent, fluctuating around 65%; the proportion of other currencies' market value has not changed significantly. BTC is still in a dominant position in the market, and the rise of mainstream currencies in the market is higher than that of BTC, and BTC has not had a strong upward impulse.
Data source: standard consensus, CoinMarketCap
According to the standard consensus halving countdown index, the current block height of BTC is 625,210, and there are only 35 days left before the next halving. The halving of the BTC output value is just around the corner, and the difficulty of BTC mining has dropped significantly. Although the BTC price has risen to a certain extent, the current BTC price will still lead to the decline of a large number of mining machines.
Trend review and analysis of BTC, ETH, BCH
Trend review and analysis of BTC, ETH, BCH
According to CoinMarketCap data, the average daily turnover rate of BTC in the past 7 days was 29.24%, an increase of 2.66% from the average daily turnover rate in the past three months, and a decrease of 1.77% from the average daily turnover rate of last week. After BTC tested the support of $7,000 this week, it rose to a maximum of $7,450, but the trading volume shrank to a large extent, and the rise was affected to a certain extent by the optimistic external sentiment. At present, the external situation is gradually becoming clearer, but no turning point has occurred, and the downward pressure on the economy is still severe. Pay attention to whether BTC can regain $7,000. In the short term, BTC has a certain demand for callbacks, and the actual economic situation has not yet improved, and the market still has a strong willingness to short.
risk warning:
risk warning:
Be vigilant against illegal financial activities under the banner of blockchain and new technologies. The standard consensus resolutely resists various illegal activities such as illegal fundraising, network pyramid schemes, ICO and various variants, and dissemination of bad information using blockchain.
