Bitcoin market analysis at noon
Market analysis at noon on 8.25: This week's hot spots are still vague, and Dabing and Defi benefit again
Yesterday was a relatively calm day. The domestic public chain was silent. Dot seemed to be temporarily shut down after being fired for two days on the weekend. On the contrary, Defi responded well. Although the response of leading coins like LINK was mediocre, like other younger brothers Defi currencies such as Nest, Crv, Lend, and Jst are on the rise. In addition, the reaction of Bitcoin and mainstream currencies was also possible yesterday. To put it bluntly, the current currency market is a circle, and funds flow everywhere. See which concept has potential Just go up and take a bite. The question now is which concept the money will favor next.
In terms of Bitcoin, it was still in an upward trend yesterday, rising from below $11,600 to above $11,800. Although it has not yet stabilized, it still has the strength to go up as a whole. Su Zhe said that based on last week's weekly pattern, if it rises in the first half of this week, the pressure on short positions will increase in the second half of the week, unless there is a strong financial force to pull up the funds. Now, from other hype concepts The flame-out funds seem to have nowhere to go, which instead gives us a hint of the market. Of course, we still focus on the current market. If we pull back first at the opening of the market today, the probability of a rebound within the day is still relatively high. We will pay attention to whether we can stand firm at $11,700.
Recently, hot spots in the market have been switching relatively quickly, and it is obvious that attention has jumped from one concept to another. Some concepts can last for several weeks, such as DeFi, Bitcoin and mainstream currencies, while some hot spots may occur within a week. For example, last week’s domestic public chain and last weekend’s cross-chain.
The most popular domestic public chain last week was an example. At that time, the leading coin OMG rose three times in three days, but then quickly fell back by one-third. From this perspective, if the friends who chased in that day were locked up, How much time does it take to get out of the trap, and how many opportunities are wasted during this time, these are all our costs, and the cost of time is also a cost.
Since it is called a hot spot, there will be irresistible reasons to participate every time. The blockchain revolution of DeFi, the value investment of Bitcoin, the pioneering of domestic public chains, and the current cross-chain refreshing. Every hot spot in the early stage We have all conducted detailed analysis, but we currently know very little about cross-chains.
At present, the representative product in the cross-chain is Polkadot. The Chinese name is Polkadot. Most people have a deep impression of Polkadot or the token DOT. DOT has performed very well since its launch. It once rose above $400. The ratio of 1:100 was split, and the price also rose from below $3 to above $4.
The reason why Polkadot is so optimistic is that it has several decisive characteristics.
1. Infinite scalability: Polkadot can support an unlimited number of blockchains and connect them together.
2. Adaptable consensus mechanism: Since different blockchains operate with different consensus mechanisms, the Polkadot platform provides an open and adaptable consensus mechanism to host them.
3. Cross-chain transactions: This framework can support value transfer between different blockchains.
4. Clear governance mechanism: It has a clear governance mechanism, which breaks the main problems faced by other blockchains.
5. Upgradability: Polkadot supports upgrades without the need for laborious hard forks to deploy protocol changes.
6. Collective security: Blockchains connected to Polkadot can be protected through a unified security umbrella.
Polkadot's ecosystem is also comparable to that of DeFi. There are currently 188 projects under development on Polkadot. The areas of these projects include DeFi, cryptocurrency wallets, infrastructure, oracles, DAOs, privacy, exchanges, games, Internet of Things, scaling solutions, etc. Some famous projects such as Chainlink, Ankr, Celer Network, Akropolis, Ocean Protocol, 0x protocol, imToken, etc. are being deployed on the Polkadot protocol.
The current market does have reasons to be optimistic about Polkadot. Compared with DeFi, Polkadot’s applications seem to cover a much wider range, not only limited to financial aspects, but at the same time we must fully understand the difference between concept and implementation, and security after implementation. , Security guarantees will still have audiences in the future, which is a lot of difficulties for a new concept.
For these institutions, the current focus is on deploying DeFi, so will Polkadot put the same effort into it at the same time? Not necessarily. After all, DeFi is relatively mature, and it can follow the path of the predecessors, and the risk will be much smaller, but directly focusing on Polkadot means risk, which is not in line with the investment philosophy of most institutions. Moreover, DeFi also experienced hype at the beginning, and returning to hot spots later is equivalent to returning to the market to pay attention to DeFi. We can regard the current temporary calm as poking bubbles, which is very beneficial in terms of long-term development.
In addition, this week’s hype hot spots are also doubtful, that is, after DeFi and domestic public chains, today’s Polkadot seems to have temporarily turned off, so whether it can continue is still a major issue.
Yesterday, I made two orders. In the morning, I made an empty order at 11680. However, after a wave of rise in the afternoon, I stopped the loss at 11750. In the evening, I placed an empty order at 11830. It happened that the highest point was empty, and I got 80 pips. The profit is guaranteed, no profit or loss today... I gave a long order of 11700, and I also got a profit of 80 pips, but I didn't pay attention to stop profit too early, and I am still holding it.
