Although the cold winter is coming, the five good things will blow the spring breeze of the bull market?

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The volume and price of mainstream currencies have risen together, and the bull market has become stronger

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Five major benefits, blowing the bull market spring breeze

 According to Xinhua News Agency, Xi Jinping stated at the first phase meeting of the 15th G20 Leaders Summit that the G20 should discuss and formulate legal digital currency standards and principles in an open and inclusive manner, and jointly promote the international monetary system. In the process of moving forward, we will properly deal with various risks and challenges.According to Xinhua News Agency, Xi Jinping stated at the first phase meeting of the 15th G20 Leaders Summit that the G20 should discuss and formulate legal digital currency standards and principles in an open and inclusive manner, and jointly promote the international monetary system. In the process of moving forward, we will properly deal with various risks and challenges.

This great positive effect was more fully demonstrated on October 25, 2019.Xinhua News AgencyOn October 25, 2019, it was stated that the Political Bureau of the Central Committee of the Communist Party of China conducted the eighteenth collective study on the development status and trends of blockchain technology on the afternoon of October 24. Xi Jinping, General Secretary of the Central Committee of the Communist Party of China, emphasized when hosting the study that the integrated application of blockchain technology plays an important role in new technological innovation and industrial transformation. We must take the blockchain as an important breakthrough for independent innovation of core technologies, clarify the main direction of attack, increase investment, focus on overcoming a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation.

At that time, it was in a bear market, and BTC had just fallen below the main support platform, and the market was extremely pessimistic. However, the pessimism of the market was quickly broken by this press release from Xinhua News Agency. BTC rose all the way from around US$7,300, and successfully broke through US$10,000 on the 26th, reaching a maximum of US$10,817.

2. The OKEx turmoil has come to an end, and domestic funds have poured in frantically, pushing up digital currencies soaring.At around 7:40 a.m. on November 20, Xu Mingxing posted on Moments, responding to a series of disturbances such as OKEx’s ban on deposits and withdrawals and corresponding rumors in the past month. Xu Mingxing said that the company completed an equity merger transaction a few years ago. Since the acquired party was involved in a complicated judicial case, I was required to cooperate with the investigation. At present, the judiciary has ascertained the facts and returned my innocence. After the OKEx turmoil ended, USDT returned to normal from the previous sharp discount, and various speculations and concerns such as difficulties in depositing funds, fund security, and possible supervision disappeared. At the close of the Hong Kong stock market on the same day, Ooke Cloud Chain (01499.HK), a subsidiary of Ooke Group, reported HK$0.155, closing up 17.42%. The capital market used the rise to express its attitude. With the rise in market risk appetite, domestic funds began to flow into the encryption market, helping mainstream currencies to rise.

 3. The mainstream currency has a demand for supplementary growth, and the effect of capital boost is more obvious.In the previous period, although Bitcoin continued to rise and hit new highs, many people in the market did not feel the bull market. This may be related to the fact that many people do not have Bitcoin in their hands and the OKEx turmoil. Compared with BTC, mainstream currencies have always been at a low level. ETH just broke a new high yesterday. Many mainstream currencies have a demand for supplementary growth after a long period of consolidation. In addition, the market risk appetite has increased, and the influx of funds is easier to push up. Short-term When the increase is larger.

 4. Institutions continued to increase their holdings, building a bottom for the market bull market, and began to increase their holdings of mainstream currencies.On November 19th, US Eastern Time, Grayscale Bitcoin Trust’s holdings increased by 10,550 BTC, an increase of 2.04%, and the total holdings reached 526,765 BTC. At the current high level of Bitcoin, Grayscale’s desire to increase holdings has not diminished in the slightest, and institutions seem to be frantically scrambling for funds, which provides sufficient support for BTC’s continued rise, and market confidence has also increased significantly. With BTC stabilizing the market, along with capital inflows, speculation and hype will start to rise, and the market will rise and rise gradually, just like the Internet saying "when the wind comes, pigs can fly".

In addition, according to Grayscale’s holdings increase data, Grayscale is also increasing its holdings of ETH, LTC, etc., and has also increased its holdings of mainstream currencies such as XRP, XLM, and ZEC to a certain extent. LTC has grown significantly.

Summarize

Summarize

In the context of digitization, in the process of promoting the development of digital currencies, central banks of various countries will also encourage more people to learn about cryptocurrencies such as Bitcoin and promote the application and development of cryptocurrencies; so far, Bitcoin is still the most successful digital currency. Institutional investors are also shifting wealth to digital assets such as Bitcoin. Since the beginning of this year, according to data analysis by Goldman Sachs, Bitcoin is more popular than gold ETFs. Based on the size of the gold market, Bitcoin still has 10 times the room for growth in the future.

Judging from the market trend, under the background of institutions increasing their holdings, market risk appetite continues to rise, and retail investors have begun to enter the market, Bitcoin will still maintain a general trend of volatility and rise; because of the stagflation of mainstream currencies in the early stage, there is currently a large compensatory increase Demand, the supplementary rise of mainstream currencies will most likely continue for a period of time and become a hot spot in the market.

From the perspective of long-term investment, institutional investors are mostly value investments, and some air coins will most likely be abandoned by the market in this round of bull market. Through the changes in Grayscale's holdings, we can see that Bitcoin is still the most accumulated holdings, followed by Ethereum and Litecoin. In addition, XRP, XLM, ZEC, etc. also increased their holdings.

From the perspective of blockchain development trends, landing applications is still the main theme, and ETH 2.0 is the most anticipated. With the rise of DeFi this year, a number of new leaders will also have great potential in the future, such as UNI, COMP, YFI, etc. In addition to ETH, Polkadot is also very worthy of attention, especially after it will conduct card slot auctions, which will greatly reduce the circulation of DOT, which will boost the currency price.