The continuous negative decline after the sharp pull, it will be difficult for Bitcoin to rise again
According to Coinworld data, on January 29th, Eastern Time, the changes in Grayscale Trust’s position data are as follows:
Grayscale BTC trust holdings increased by 275.75 pieces (+0.04%), with a total holdings of 648,467.71 BTC and a GBTC premium rate of 3.52%;
Grayscale BCH trust holdings increased by 1,326.84 pieces (+0.50%), with a total holdings of 268,035.47 BCH and a BCHG premium rate of 536.36%;
Grayscale LTC trust holdings increased by 3603.96 pieces (+0.28%), total holdings were 1269696.56 LTC, LTCN premium rate was 1945.28%;
Grayscale ETH and ETC Trust did not increase their holdings on that day, with a premium rate of 6.27% for ETHE and 24.42% for ETCG.
As of 9:00, according to the 58COIN delivery contract market:
The BTC contract is currently quoted at US$34,202.71, a discount of US$35.69 to the spot price, with a 24-hour increase or decrease of 0.25%. The trading volume was 1,193,268,200 lots, and the turnover was 85,272,478,600 US dollars. The current total position is 368,400 lots, a change of -91,400 lots from the previous trading day.
The EOS contract is currently quoted at US$2.71, a discount of US$0.0050 compared to the spot price, with a 24h increase or decrease of -1.06%. The trading volume was 5.3069 million lots, with a turnover of 29.325 million US dollars. The current total position was 2.7813 million lots, a change of -133,100 lots from the previous trading day.
The ETH contract is currently quoted at US$1364.36, a discount of US$2.13 compared to the spot price, with a 24h change of -0.02%. The trading volume was 23,739,300 lots, and the turnover was 1,617,068,200 US dollars. The total number of current positions was 2,494,800 lots, a change of 141,400 lots from the previous trading day.
Due to the unexpected excessive rise and heavy fall of the market yesterday, the panic index rose, resulting in a decrease in transactions.
Bitcoin has risen sharply and then plummeted. The double explosion of long and short is in full swing. Some people get rich and others leave the market. How important is it to keep a calm mind?
At 4:30 p.m. yesterday, the price of Bitcoin pulled from $32,000 to $37,000 in a straight line, and rose to the final $38,000 at 9:00 p.m., an increase of nearly 20%. There is only one possibility for such a sudden surge. There has been a huge change in the news, otherwise such a pull-up will attract endless selling pressure, and the main force will trap themselves. Sure enough, a news came next, and Xiao Ma tweeted his home page The name was changed to "Bitcoin".
It was mentioned yesterday that the long-short data has been distorted, so after the sudden riot in the news, has the rhythm of the market changed? "No change", yes, you heard it right, it has not changed. After the price of the currency rose to 38,500 US dollars, it did not stay at 38,500 US dollars for too long, and then quickly pulled back, and the volume can be enlarged, indicating that the selling pressure is very strong. Heavy, when it fell to about 34,000 US dollars, the selling pressure was still heavy, indicating that the main force did not change their trading rhythm because of the news of Xiao Ma. The currency price returned below 35,000 US dollars at the fastest speed, and the market returned to 30,000. -In the rhythm of the shock of $35,000, do you still remember the sentence I said that $35,000 is the dividing line between bulls and bears in the market? Unless you can stand above 35,000 USD today and stand there for a long time, instead of breaking through and going down, but standing above 35,000 for a long time, the rhythm of the market will not change.
Today's point of view is very direct, right or wrong is not important, this is the conclusion drawn after repeated thinking based on market changes, so what I want to say most today is not this, but to tell everyone, keep calm when the market fluctuates greatly Mentality is really important. Just yesterday, during the ups and downs, some people made ten times their income, and some people left the market sadly. It happened to me. There are too many of them. how about this? You have to ask yourself, what is your mentality when the market is soaring? Are you in a hurry? Have you started to imagine that if the currency price rises again, you will not catch up with the helplessness and pain in your heart, but if you don’t chase the rise, you are afraid of missing it, and if you chase the rise, you are afraid of a big drop. This extremely entangled state will make you at a loss and painful Unbearable, so what should I do? There is no way, this is human nature, but if I tell you that yesterday's big rise was not painful at all, and after communicating with many currency friends, they also became calm, because I understand.
There is only one way to solve this problem, to understand it, to understand what is going on. You will find that it is really different. Let’s learn, fellow currency friends, let us be more objective, more real, and more rational.
What do you think? How important do you think it is to maintain a calm mind in the face of sharp rises and falls?
Talking about Bitcoin market
Yesterday's starting point was 32,000, and today's 35,000 line has formed a box suppression range. Xinhuo speculates that it will remain within this range during the day, and there will be no further large rises or falls. Wait for the evening market to give direction.
Ethereum: Let’s mention Ethereum here. During this round of Bitcoin’s sharp rise and fall, Ethereum was running smoothly, as if nothing happened without it. Since Ethereum continues to fluctuate, there is no need to chase the rise.
