ETH refreshes historical highs, and the mainstream of Bitcoin is mainly rushing higher in the day | Roast Star Selection
The weekend market ended in a shock. If the market reached around 8 o'clock last night, the position was still around 33,000 US dollars, and this price happened to be the opening price of the market on Saturday. If it can be maintained at this position, it will just show a callback on Saturday. After rebounding on Sunday and Sunday, it finally opened and closed at the same position. Unfortunately, at 8 o'clock last night, the market began to fall back. The weekend market was weak, but after the market opened today, the currency price directly rushed above $33,700, which was extremely fierce. But the real fierce currency belongs to ETH, which rose by more than 12% yesterday, and continued to rise after the market opened today, directly rushing to $1,450, setting a new record high again. With the performance of the market like this, ETH can perform so fiercely , If the market is slightly stronger, what should it be like?
Looking at it from today to now, the market has chosen to go up first, but based on the current market environment, the market will go up at the beginning of the week, and there is a high probability that it will be difficult to maintain in the later period. I will choose to pull back first. It is not a bad thing if the market pulls back first this week. The funds will perform first on the DeFi side. After the performance, they will just return to the Bitcoin market, which is in the second bottom, and then directly increase the price of the currency. This is more beneficial to the market, and it will also make the market go more safely this week.
Of course, the rise of ETH is not without trace. A large part of the credit is due to the strength of the DeFi sector. Compared with some DeFi concept currencies, the rise of ETH is really nothing. For example, Uni rose by nearly 30% yesterday. The oracle concept coin NEST has risen by nearly 40%, the old currency Comp has risen by more than 20%, and the synthetic asset SNX has also risen by 20%. The DeFi concept of different nature currencies is fully blooming, and it can be seen that it belongs to the DeFi prosperity. Therefore, it is understandable that the market has more expectations for ETH. Since entering 2021, in less than a month, this is already the second performance of the DeFi concept. If it often behaves like this in the future, then ETH is currently Definitely deserves a higher valuation. In addition, the performance of DeFi currencies can also show that there are still funds in the current market. When the rapid rate of return of DeFi decreases, there is still a high probability that funds will flow back to mainstream currencies and other currencies. You can look forward to it this week. When the trend is showing signs of decline, you can pay attention to the reaction of mainstream currencies.
On January 25, Gu Yanxi, a blockchain and encrypted digital asset researcher, published a column saying that in the past two years, users who invest in Bitcoin have begun to develop from retail users to institutional users. But even today, there are very few institutional users involved in buying, selling and holding Bitcoin. Most of the funds in the market are in the hands of institutions. Therefore, in terms of inflowable funds, Gu Yanxi believes that Bitcoin still has a very large room for long-term growth. He also said that at this stage, in the eyes of mainstream financial institutions, Bitcoin is still either a useless speculative tool or a highly speculative asset, so these institutions will not invest their assets in Bitcoin .
Gu Yanxi pointed out in the article that speculative forces play a major role in any trading product, and changes in the direction of speculative forces will lead to changes in the direction of prices. For Bitcoin, the proportion of speculative funds is much higher than that of conventional securities. In addition, due to the existence of high leverage in the current Bitcoin derivatives transactions, this will also lead to large fluctuations in the price of Bitcoin. So it is very possible that Bitcoin will be highly volatile in the future. At the end of the article, he stated that the financial regulatory stance of the new U.S. government will recognize Bitcoin more, thus promoting Bitcoin to become a mainstream asset type. Therefore, it will be more conducive to the inflow of institutional funds into Bitcoin. Therefore, Bitcoin still has a lot of room to rise in the future.
Gu Yanxi’s thoughts on Bitcoin represent to a certain extent the mainstream thoughts of the hoarding party in the market, and they are also relatively optimistic. The idea of the new U.S. government’s financial supervision is definitely not to kill the encrypted digital currency quickly. Instead, it takes the initiative in supervision. Once the initiative in this area is mastered, the cryptocurrency industry will usher in a more optimistic development. So, don’t hold the pessimistic idea of killing the supervision with a stick, let the market go and see, and there will be a possibility that there will be another village in the end.
U.S. institutions are also optimistic about Bitcoin. According to news from Cointelegraph on January 25, Anthony Scaramucci, founder of U.S. hedge fund Skybridge Capital, said in an article on CNN that long-term investments seeking to avoid inflation For those, Bitcoin has emerged as a viable option. Improvements in infrastructure and regulation make investing in bitcoin "as safe as owning bonds and gold." Scaramucci added that Bitcoin’s growth has prompted governments and agencies to step in and address many of the risks associated with digital currencies, noting that banks were previously authorized by the U.S. Office of the Comptroller of the Currency (OCC) to offer cryptocurrency services.
Tianqiao Capital also reported that it will enter the cryptocurrency market. This is just a microcosm of the current Wall Street institutions. There are not too many institutions entering the cryptocurrency market in 2020. According to the current market situation, this may be just A starting point, when the market breaks out in the future, we will see various institutions come out to call for orders, because they will choose to enter the market quietly during the current silent period. It has gone up.
Regarding the $1.9 trillion previously proposed by Biden, there are currently new trends, but it seems that some difficulties have been encountered.
U.S. Republican and Democratic lawmakers held a conference call with White House economic adviser Brian Deese on Sunday, asking the latter to give reasons why the scale of the epidemic relief plan needs 1.9 trillion US dollars.
"Part of our request was to see more data -- how did you come up with that number?" Senator Angus King told the meeting. King was referring to the potential costs of the various components of the bailout package.
Sixteen Democrats and Republicans in the Senate participated in the discussion, as did leaders of a bipartisan centrist group in the House of Representatives.
It's another sign that Biden's stimulus plan faces challenges, his top legislative priority. If passed, it would be the second largest emergency spending bill in U.S. history.
Lawmakers from both parties support funding for COVID-19 vaccine distribution and virus testing and tracing, according to three people familiar with the meeting. Republicans, including Senator Roy Blunt of Missouri, who had doubts last week about the need for another big bailout, told the meeting they were open to vaccine funding.
One idea floated at the meeting was to spin off a vaccine and testing bailout package, but White House officials on the call did not offer support, said a person familiar with the matter who spoke on condition of anonymity. Deese listened primarily to MPs and thanked them for their proposals, participants said.
This is similar to our previous thinking. Although a $1.9 trillion stimulus plan was proposed, it has not yet been approved by Congress. It is expected that there will still be discrepancies in the final passed figures. But he also knows that Congress is unlikely to pass such an amount. It is estimated that 1 trillion is still available. The final figure depends on how Congress decides, and the result is expected to come out in mid-February.
In addition, long-term Wall Street bear David Tice (David Tice) believes that the US stock market will fall by at least 30% in the two-year downturn. One of the main reasons is Washington's unfriendly business policies.
"We now have a Biden administration that controls both houses of Congress. They're probably going to have more anti-capitalist policies," Theis said in an interview on Friday. "They've raised the minimum wage. That will come at a cost detrimental to earnings.”
Easy monetary and fiscal policies that support money printing could also sting Wall Street, Theis argues. "All of this is bad for financial markets," he added.
mainstream currency
mainstream currency
During the weekend, the market was mainly volatile, but today the market went straight up after the opening of the market. Driven by Bitcoin, BCH rose by $450, LTC rose by more than 4%, BSV and other currencies also rose to varying degrees. There is a lot of movement in DeFi on weekends, and funds are flowing on DeFi. Once the rapid profit return of DeFi becomes low, there is a high probability that funds will flow to mainstream currencies. At that time, mainstream currencies may usher in performance opportunities.
But like Bitcoin, if the market is not particularly strong, it is not a good thing to go up first now, and the current market environment is not enough to support the price of the currency to go up without a pullback, so it is better to be cautious at the moment. It is very likely that it will fall back, and it is best to be cautious when rushing higher first.
In terms of mainstream currencies, there is news of XRP in the market, and there are two completely different views on the currency.
According to EWN, cryptocurrency analyst Magic Poop Cannon is optimistic that President Biden's appointments to the U.S. Treasury, SEC, and OCC will provide the United States with much-needed regulatory transparency. Furthermore, this clarity will ultimately benefit Ripple and XRP facing US SEC lawsuits. It said: "The focus of the United States will be comprehensive encryption regulatory reform. I am optimistic about Ripple and XRP." The benefits of cryptocurrencies, as well as the potential for misuse, are important. She emphasized that while cryptocurrencies can be used to finance terrorism and other illicit activities, they also have the potential to "improve the efficiency of the financial system."
On the other hand, according to U.Today news on January 25, Phil Liu, co-founder of the cryptocurrency asset management company Arca, predicted that by the end of this year, XRP will become a "historic relic." It is understood that Arca’s line of investment products does not offer exposure to XRP.
platform currency
platform currency
Benefiting from the outbreak of DeFI, the recent performance of the Binance Ecological Chain and the Currency Ecological Chain is acceptable, and the popularity of the chain can be seen. Driven by the rise of Bitcoin this morning, the price of the currency has risen to varying degrees, and the increase of BNB Fortunately, it is only about 2%, and HT is beyond 3%. HT should show it. After all, the performance of HECO in the proximal time is really impressive.
However, OKB’s performance is still mediocre, mainly due to the drag of OKT. Today, it directly rose and fell back, making OKB not even a 1% increase, and it still needs a period of adjustment.
DeFi
Polkadot
Polkadot
DOT is currently ranked fourth in market capitalization, but the increase in the past two days is actually relatively average. Being able to rank fourth also shows that the current Polkadot capital is already very sufficient. If you want to go one step further, you can't just play The potential and the ecology that has just begun to develop, the reason why I have been in the Tipoca ecology is that I have seen hope from it. The ecological project itself does not have much value at present, so I hope this hope can be implemented. Finally, I will say It may not be possible to go further.
The current small increase also shows that it may be difficult to push up with Polkadot's existing funds, so we have to wait and see in the next two days to see if DOT will fall back after DeFI enters the rest period.
