The current situation is slightly similar to 2017, keep a normal mind when trading
Although the popular animal coins in the first two days after the market opened today have fallen back, the entire market has been discussing, among which the self-selected coins of the old leeks are in stark contrast to the self-selected coins of the new leeks.
There is a common saying in the current market that has been recognized by everyone, that is, we seem to know why Charlie Munger hates Bitcoin so much, just like most old users don’t like animal coins now, so the deep-seated reason behind it is because Didn't Charlie Munger make money from Bitcoin? Or are you worried that Animal Coin will become a stumbling block in the cryptocurrency market?
According to the current situation, the current market should belong to the structure of altcoins, especially when Bitcoin remains basically unchanged, ETH’s performance is indeed very strong, and it is a mainstream currency that cannot be in the mainstream, but don’t forget In 2017, ETH was the largest altcoin, so does it mean that the downturn in Bitcoin and the fierce momentum of ETH mean that other altcoins are also rampant? Altcoins look more at the face of ETH?
It makes sense that altcoins are doing very well with ETH rising fiercely. On the one hand, ETH has accumulated a good mass base, and there are not many investors holding ETH. Secondly, ETH is easier to circulate than BTC, so investors can switch between ETH and other altcoins at any time.
If you look at it this way, the current market is actually very similar to the heyday in 2017.
At that time, after the concept of Isio came out, basically everyone followed suit. The situation became more and more serious later on, and the situation gradually deviated from the essence of Isio at the beginning. In the end, no technology was needed, no implementation was needed, and only a white paper was needed. , as long as it can blow, of course, it will inevitably go to shattering in the end.
Does it look like things will be different now? At any rate, Dogecoin still has Musk calling for orders, and Shib can also get on it, which can be regarded as playing the function of the team not keeping coins, but what are the other coins that more and more are imitating? The white paper of LowB almost makes it clear that it is a project that will run away at any time, but it will still be listed on the exchange and will still be sought after by users.
If everyone was copying each other’s white papers in 2017, then these recent projects are copying each other’s technology, without any technological innovation, and copying the open source code of existing mature projects. Is there any difference?
From this point of view, the current situation is actually a bit back to 2017. The difference is that in the past, the community of the project party was brainwashing, but now it is the community community of the project itself as the core, and various communities spread wildly. One thing in common is, The current project is the same as the previous project, waiting for the exchange to go online. The project "turned positive" and the price exploded. The exchange listing may have become the last link in the whole process.
Therefore, don’t say it’s a carnival for retail investors. This is actually a game similar to drumming and passing flowers, and such a game is indeed worth participating in at the beginning, such as making money, but the imitation later is almost based on cutting leeks. The purpose is the main thing, friends can use a little money to play, but don't expect to make a lot of money, don't put yourself in it in the end.
If the current situation is really a repeat of 2017, then everyone was trapped in some currencies with relatively advanced technologies and applications, and they basically came back last year and this year, and these animal currencies will eventually lose popularity if they lose popularity. If so, will it be on the road to zero?
Going back to the market, today’s market has been in the adjustment stage after the pin insertion last night since the opening of the market today. During this period, it has fluctuated around 55,000 US dollars in a range of about 1,000 US dollars.
Yesterday, it finally failed to stand firm at 59,500 US dollars. It is indeed difficult to break through with the current market popularity. It didn't meet expectations, which can be regarded as the benefit of low popularity.
Otherwise, if the popularity is relatively sufficient as before, a series of liquidation will inevitably occur once such needles are inserted. For now, let’s wait and see. The recent shock may continue for a while. The intraday support focuses on $53,500, the upper pressure level Put it at $56,500.
ETH: Although the overall situation is in a callback today, the performance of ETH is still very tenable. Although it followed the callback, the subsequent rebound speed is quite strong. At present, if the market is really going to have a big wave Callback, the attitude of ETH is the key.
Platform currency: OKEX and HT performed quite well today. Among them, HT hit a new high, close to 35 US dollars, and OKB was also close to 38 US dollars. Among them, HT may be stronger than before, and now it has started to rebound, while OKB seems to be rebounding. The strength is not very strong. Recently, some second-tier platforms have performed relatively well due to the high popularity of the online animal currency, but the probability of a later decline is still relatively high. Pay attention to the risks.
DeFi: The recent trend is relatively sluggish, but the situation like yesterday can still be improved, especially in the current situation where ETH is relatively strong. From my personal point of view, as long as the bull market is still there, the cycle of DeFi will always take turns. arrive.
