Can the Bitcoin halving drive the market to continue to rise?
Review of last issue
Review of last issue
BTC: BTC will test the pressure level of the $8,000 integer mark, and it can be shorted on rallies appropriately, with the stop loss point set at $8,100. After confirming the $7,500 support on April 26, BTC has been rising all the way up to $9,500.
BCH: BCH can be shorted on rallies, and the stop loss point can be set at $250. If it breaks through, you can increase your position and go long. BCH rose to $249.5 on April 26, and then pulled back to $234. After breaking through $250, the price rose to a maximum of $275.
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 2.64. This week, the index has shown a rapid upward trend, and the trading volume has also increased significantly.
BTC: BTC is an important pressure range between $10,000 and $10,500. If it can continue to break through $10,500 in heavy volume, it will be a watershed in the market's bull-bear transition.
BCH: BCH can go long on dips between $245 and $250, and the stop loss point is set at $240. After falling below $240, wait and see.
current report
As of the release of the report (May 1, 2020), the total market value of global digital currency assets this Friday was US$245.201 billion, a year-on-year increase of US$31.426 billion, or 14.7%. The 24-hour market turnover was US$213.928 billion, a year-on-year increase of US$64.416 billion or 43.08%. This week, the market is in a state of rising volume and price. The rise in market value is accompanied by a substantial increase in turnover. The market has begun to attract more funds into the market, and the bullish sentiment is gradually rising.
Data source: standard consensus, CoinMarketCap
According to the standard consensus sentiment index, the current market sentiment is frenzied. The latest index is 2.64. This week, the index has shown a rapid upward trend, and the trading volume has also increased significantly. At the same time, according to the proportion of Bitcoin in the total market value, the market value of Bitcoin has increased significantly, up 1.5% year-on-year; the market value of other currencies has not changed significantly. BTC is still in a dominant position in the market. As the BTC halving is approaching, the trend of BTC is stronger than other currencies.
Data source: standard consensus, CoinMarketCap
According to the standard consensus halving countdown index, the current block height of BTC is 628,352, and there are only 10 days left before the next halving. The halving of BTC output value is just around the corner, and the difficulty of BTC mining has changed from a drop to an increase. Although the price of BTC has rebounded to a large extent, some mining machines will still be forced to shut down after the halving.
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 is 28.58%, which is 0.42% lower than the average daily turnover rate in the past three months, and 1.97% higher than the average daily turnover rate last week. After confirming the support of $7,500, BTC rose all the way, and quickly broke through the integer barriers of $8,000 and $9,000, rising to $9,500. As the epidemic data gradually improves, the prices of various assets have also rebounded to varying degrees, and oil prices have also risen to a large extent. There are less than 10 days before the halving of BTC, and the market has strong expectations for long positions. BTC is an important pressure range between $10,000 and $10,500. If it can continue to break through $10,500 in heavy volume, it will be a watershed in the market's bull-bear transition.
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.
