Halving is imminent, can Bitcoin lead the market to new highs
Review of last issue
Review of last issue
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. BTC price tested $10,000 pressure zone on May 8.
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. The price of BCH fluctuated between $240 and $260 this week.
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 5.49. This week, the index has shown a rapid upward trend, and the trading volume has decreased to a certain extent. With the continuous rise of the market, investor sentiment is evolving towards excessive enthusiasm. Market pullbacks need to be guarded against.
BTC: Focus on whether the price of BTC can be stabilized above $9,000 after the halving. If it is successfully supported, BTC will rise again after a period of volatility and accumulation.
BCH: The top of BCH will gradually move down in the short term, and the support range is at $240. If it falls below $240, you can go short.
current report
As of the release of the report (May 8, 2020), the total market value of global digital currency assets this Friday was US$267.894 billion, a year-on-year increase of US$22.693 billion, or 9.25%. The 24-hour market turnover was US$193.072 billion, a year-on-year decrease of US$20.856 billion or 9.75%. This week, the market capitalization of the whole market rose again, but the transaction volume declined to a certain extent. With the continuous short-squeeze rise of the market, investors gradually developed a wait-and-see mood. With the arrival of the Bitcoin halving day, expectations for further market rises will weaken.
Data source: standard consensus, CoinMarketCap
According to the standard consensus sentiment index, the current market sentiment is frenzied. The latest index is 5.49. This week, the index has shown a rapid upward trend, and the trading volume has decreased to a certain extent. As the market continues to rise, investor sentiment is evolving towards excessive fanaticism, which needs to be guarded against The market pulls back. At the same time, according to the proportion of Bitcoin in the total market value, the market value of Bitcoin has increased significantly, up 2.6% 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 halving of BTC is approaching, the trend of BTC is stronger than that of other currencies, and the concentration of funds is relatively high.
Data source: standard consensus, CoinMarketCap
According to the standard consensus halving countdown index, the current block height of BTC is 629,452, and there are only 3 days left before the next halving. The halving of BTC output value is just around the corner, and the difficulty of BTC mining has turned from a drop to an increase, although the BTC price has rebounded to a greater extent.
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 28.10%, which is 1.98% lower than the average daily turnover rate in the past three months, and 0.48% lower than the average daily turnover rate last week. After BTC fluctuated in a wide range between $8,500 and $9,500 for a period of time, it broke through the high point in early May again, once breaking through $10,000. The return of BTC price to $10,000 will ignite the enthusiasm of investors again, but there are a lot of pressures between $10,000 and $10,500, which can inhibit the further rise of BTC to a certain extent. There are still 3 days before the halving of BTC. After the halving, the price of BTC will undergo a relatively large correction. Focus on whether the price of BTC can be stabilized above $9,000 after the halving. If it is successfully supported, BTC will rise again after a period of volatility and accumulation.
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.
