1.6 Information and intraday market analysis
Analysis: Whether Bitcoin and global crisis events are more correlated, time will tell
LongHash published today as "Bitcoin price surge in Iran? The truth may be quite the opposite," analysis article. According to the article, the phenomenon described by many media before that the price of Bitcoin has skyrocketed due to the crisis in Iran does not seem to be in line with the actual situation. Based on the real exchange rate in Iran, the price of Bitcoin does not seem to be much different from the global average price of Bitcoin, and may even be lower than the average price. According to the current trading volume of LocalBitcoins in Iran, it is almost the lowest point in history, almost no transactions, so a small number of transactions are not representative. Even judging from Google Trends data, Bitcoin does not seem to have aroused additional enthusiasm among the public. Therefore, we have no reason to believe that Bitcoin has been sought after in Iran because of this incident, and it has aroused people's enthusiasm for buying.
However, the article also mentioned that the global Bitcoin price has indeed rebounded, and it is very consistent with the timing of the Iran crisis. It cannot be ruled out that there is a certain correlation between it and how the future will develop, as well as Bitcoin and the global crisis. Whether there is more correlation between events still needs to be proved by time.
(At this time, we need to reflect. In previous years, the market has dropped. This year, because of the Iran incident, gold and crude oil have risen a wave, and Bitcoin has also risen along with the trend. How should the market go?) v:pzzz393
Ripple is currently relatively weak. What needs to be noted here is that as mentioned in the previous live broadcast, the adjustment can be completed at any time from the previous point. If Ripple can reach a new high here, there is a high probability that it will start to pull up the market.
BTC
The current trend of Bitcoin still maintains a strong trend. The two-day callback on the weekend still did not break the first line of 7280, so it is naturally a strong one. At present, the highest peak is around 7600. The short-term is also a small callback trend. If the callback trend With the trend of many parties maintaining long positions, the decline should stop around 7450, and then they will still test the previous highs.
ETH
The trend of Ethereum is a very standard channel rising. At present, there is a lot of pressure above 140. From a short-term perspective, we need to see how the callback trend will go in the day, and focus on the point of 135.5. The point to maintain the strength of multiple parties is the callback It is better to stop the decline above or near this point.
BCH
The short-term trend of Bitcoin Cash is very strong, and the follow-up stepping back is still considered to take more orders. At present, there is still a lot of pressure around 117-118 in the ultra-short-term.
LTC
The trend of Latiao is rising strongly, and there is still an upward momentum. It will be safer to continue to buy more.
EOS
The trend of pomelo above 2.78 needs to be cautiously pursued. At present, from a general direction, we still maintain a multi-sided thinking. Here, if the short-term can be pulled back to around 2.6868, you can pay attention and consider buying.
XRP
Ripple is currently relatively weak. What needs to be noted here is that as mentioned in the previous live broadcast, the adjustment can be completed at any time from the previous point. If Ripple can reach a new high here, there is a high probability that it will start to pull up the market.
