A large amount of ETH in the UNI mining pool is about to be released, and Bitcoin ushers in the 16,000 era
Bitcoin hit a new high yesterday, and the market continued to rise after the market opened today, but other mainstream currencies seemed to have no chance to perform. When Bitcoin rose and surged, there were not many mainstream currencies that followed the rise, but when Bitcoin fell back, other mainstream currencies The currency falls relatively quickly, and everyone feels that the rise will not follow much. Once Bitcoin falls, other currencies can't wait to follow suit.
It should be noted that there are still several recent news that may have an impact on individual currencies.
BCH will be forked on November 15th, but it is expected that this fork will not have a major impact on the market as it did in 2017. Two years ago, BCH and BSV were evenly matched, but recently the proportion of BCHA in the distribution of block nodes is very small , which means that the BCHN scheme is currently significantly ahead of the BCHA scheme, so the differences will not be so big.
After all, a fork is a fork, and the probability of BCH price fluctuations in a short period of time is relatively high. It is expected that it will rise a bit at the beginning, but it is hard to say afterwards. The overall thing depends on whether the community is doing things after the fork, whether it can Find a new way out for the forked BCH.
Secondly, the initial liquidity mining of Uniswap governance token UNI will come to an end. According to official news, Uniswap will end UNI liquidity mining at 8:00 on November 18.
The current UNI liquidity mining fund pool has a total locked position of more than 2.4 billion US dollars, of which there are 4 ETH trading pairs, and the current locked ETH is roughly 2.6 million. According to the price of ETH on that day, the total value exceeds 1.2 billion US dollars .
Once the liquidity mining is over, there are several main destinations for the $1.2 billion worth of ETH. One is to pledge it to other places, such as ETH2.0 or other DeFi projects. The second is to keep it in the wallet. The third is to sell and exchange for other tokens.
It is unlikely that there is no movement in the wallet. At the beginning, the pledge in the UNI mining pool is for profit. Most of the channels without profit should not be considered. The relatively high probability will still be sold and circulated on the market. Tens of thousands of ETH are circulating in the market, which will form a certain selling pressure on ETH. Compared with the price of ETH when the pledge was first started, even if it is sold at present, there will be more attractive returns.
Finally, there is still not much progress in the recent OKEX coin withdrawal, but if there is no progress, it may be the worst news, because the "golden 37" day is getting closer and closer.
"Golden 37 days" refers to the maximum period of formal detention by the public security organs of 30 days, and the maximum period of review and arrest by the procuratorate is 7 days. The combination is 37 days. May be arrested.
Previously, it was reported that Xu Mingxing had already come out, but he was placed under residential surveillance, and being judged to be under residential surveillance means that the golden 37-day period has no effect, and only those involved in criminal cases will be placed under residential surveillance, and the maximum period of residential surveillance shall not exceed 6 months.
In other words, the current hope of withdrawing coins has been delayed from 37 days to 6 months, which is not good news for the market. At present, there is no clear news to confirm what is the situation, but after a few days, the market may notice whether the "golden 37 days" OKEX can release the news of withdrawal, if it cannot be released by then, it may usher again A wave of market reaction.
Going back to the market, as we said in the early market, today we mainly focus on the rebound. If the market opens first after the market opens, the probability of a later decline will be very high, and after the market opens, the market will rise first, and then it will start to fall back as expected.
From the perspective of the disk, the price was close to 16,500 US dollars after a wave of rise yesterday, basically in line with our expectations, but the rhythm was not in place in one step, but divided into several hours of K-line. At present, it has temporarily broken through the previous triangular range and is in the process of rushing higher and stepping back. Judging from the current situation, there is still a chance of continuing to rise after stepping back at night. The support level is concerned about 16,000.
The current overall rhythm is to continue to rise. There is not much resistance between the current price and the historical high, so it is difficult to judge the so-called pressure level. The quilt chips are faced with unwinding, so the pressure position is of great significance.
But according to the current price of Bitcoin, there is basically no hold on the top, and it keeps hitting new highs before hitting historical highs, so don’t worry about the pressure level. What you need to worry about is that there will be a convulsive callback in a certain period of time. This forces us to set a good stop loss when we place an order.
