Bitcoin market analysis: how to grasp the profit opportunity in the currency circle?

In the first half of this year, we experienced "312", the halving of Bitcoin, and the price of Bitcoin fell from $10,000 to $3,800, and then returned from $3,800 to $10,000. From May to July, the market also experienced two The calm fluctuation between 9000-10000 US dollars in monthly time.

Just two days after the market was quiet, new hot spots have emerged. In the past two days, a concept called NFT has been repeatedly mentioned.

Old players may still have some concepts about NFT, while new players who have only entered the currency circle in the past two years may be a little unfamiliar with this concept.

From a professional point of view, the full name of NFT is Non-FungibleToken, which means non-homogeneous token in Chinese. It is a unique and indivisible token. Each token is unique and indivisible. and swap. In contrast, the simplest homogeneous tokens are BTC or ETH.

NFT is actually a kind of Token, but it is different from other Tokens. For example, Bitcoin, you have a Bitcoin, and I also have a Bitcoin. The value of our exchange is the same. More intuitively, two Everyone has a 100 yuan RMB, and it is all real, so if we exchange it, it is still worth 100 yuan. But NFT is different. Both your NFT and mine are unique. The NFT owned by each person is tagged with each person, which is unique, so the value is also different.

Many people use NFT in various ecology, including art, entertainment, and DeFi. For example, a recently famous NFT is called meme. This project actually mocked the status quo of DeFi at the beginning. A DeFi project can be created in 5 minutes , you can issue an air coin, and meme is created in this way, and an NFT is produced, and the last meme is worth 1,900 US dollars.

Many people sound nonsensical, and DeFi and air coins can understand, but how did he come to be worth $1,900? Why is it worth $1900?

You can understand this issue in this way, just like a work of art, the same painting, some people’s paintings can be worth hundreds of millions, while others’ paintings can’t be sold for dozens of dollars. Many times the paintings are the same, but behind the scenes The people who painted him were different, so two identical paintings would be branded differently. Coupled with the hype around them, the price would naturally rise.

Some old players should know the concept of NFT. Many players were very impressed by the CryptoKitties in 2017. From the sky-high price of hundreds of thousands to worthless, many people still took over at that time.

For the concept of NFT, many people in the current market have analyzed it. Some senior players in the currency circle, including us of course, suggest that everyone should never touch it.

I saw a more subtle analogy, similar to postal currency cards. During this period of time, many people felt that this postal currency card was scrambled for before, but after they took over the order, they might never wait for the day when others took over. To put it bluntly, it is the fund plate model.

Grayscale really spares no effort on the way to push up the Bitcoin bull market.

The signal at the daily line level is not very good. Yesterday it completely fell below the Boll middle rail and basically did not rebound, and the macd is just below the 0 axis, and there is a tendency to form a dead fork, and the column turns from positive to negative. This is indeed true. weakening signal.

But in fact, the support level below the weekly level is relatively strong now, especially the two-month shock between 9,000-10,000 US dollars from May to July this year, which created a relatively solid platform for the market, so you can see it in a short time. It is a phased market, and there is still a long way to go before the general trend changes.

The hourly line level fell out of the bottom track of Boll early this morning, so there is a short-term need for a rebound. With the golden cross at the bottom of the MACD, it has now rebounded to near the middle track of Boll.

However, there is still a chance to test the $10,200 support again within the day. First, pay attention to whether you can stand on the middle track of Boll, which is roughly at the position of $10,400.