Bitcoin market analysis: Can Ethereum 2.0 bring about a turning point?

Two days ago, CCTV made a special report on Bitcoin. It still used the image of positive assets to compare assets such as gold, stock market, bond market, and funds. In the end, Bitcoin came out on top with a 70% return. It plays a very big role in motivating people. In the past, it was not enough to avoid fear, but this is equivalent to positively acknowledging the asset nature of cryptocurrencies.

Although the whole country is working overtime today, it can be regarded as a working day, but the peripherals still haven't opened, and the market seems to be relatively calm, with little volatility in either the market or the news.

The brighter part today is related to Ethereum. According to the developers of Ethereum, the team will complete the development of all ETH2.0 related functions before October 15.

Ethereum is the first pioneer. In the past few years, Bitcoin has not made any progress in the so-called application. Even if it is difficult to make any breakthroughs in the future, the consensus is the greatest value of Bitcoin, and Ethereum is constantly expanding. To increase the influence of the encryption market in terms of applications.

The most intuitive manifestation is that since 2017, the transaction volume on the Ethereum chain has gradually increased from US$500,000 per day to more than US$3.5 billion per day. This growth rate has reached 7,000 times, which can be said to be growing rapidly.

The outbreak of DeFi this year has made the market see the unlimited potential of Ethereum. There are no other public chains that are close to Ethereum. At present, it can no longer be said that Ethereum has full potential, but in the process of gradually realizing its potential, this space Still very imaginative.

It is undeniable that Ethereum still has very obvious shortcomings, such as insufficient carrying capacity, easy congestion, poor performance, and soaring handling fees at any time. These are the current problems facing Ethereum.

The good thing about Ethereum is that it has a good spokesperson and a community that really considers the future of Ethereum. With the efforts of V God and many Ethereum developers, the time for Ethereum 2.0 to go online is getting shorter and shorter. .

Previously, the Ethereum community expected the official launch time to be in November this year. At present, the development of all relevant functions will be completed before October 15th. It is expected that testing and modification will still be required, and there is still a chance to launch in November.

The main reason is that Ethereum 2.0 will be launched in several stages. The initial launch is stage 0, and then it will be promoted in stages, which is more flexible. After the launch of Ethereum, it may also bring about the reform of the game in the circle.

First of all, it will also have a great impact on DeFi. In the past, when projects on DeFi were booming, congested lines and high handling fees always caused headaches for investors. After the success of Ethereum 2.0, the situation in this area will improve a lot, and even It will change the way DeFi is played.

Another relatively big impact is ETH. Through this year's wave of DeFi market, we can find that when the Ethereum public chain is overwhelmed by the market, ETH will always have explosive performance, and sometimes it will sound the clarion call for the entire currency market to rise. This point may have a more signaling function than Bitcoin.

Ethereum 2.0 can actually have a certain impact on Bitcoin. In the past period of time, due to the popularity of the Ethereum public chain, the number of BTC pledged on the Ethereum public chain has also increased. Once expanded, it will only increase. More, which can encourage investors to buy Bitcoin and reduce selling.

To paraphrase a popular sentence in the current market, Ethereum 2.0 is not only the future of Ethereum but also the future of the entire blockchain public chain. If you really don’t want to care about the functions of Ethereum 2.0, you can hoard ETH, and ETH is currently getting more and more expensive. It is increasingly recognized by investors who regard Bitcoin as the only belief.

Going back to the market, the weekend market is the weekend market after all, and the overall fluctuation is also maintained at around 100 US dollars. At around 2 o'clock this afternoon, there was a wave of water, less than 200 US dollars, and it was still above 10,600 US dollars. .

Since the upward impact of $10,800 failed and a certain degree of diving occurred, the next step is to pay attention to the support of $10,600. It is expected that the support of $10,600 will be tested next.

It is expected that there should be little change in the position and current situation of the weekly closing line this week. The closing line is actually not bad. After all, it rebounded from the mid-rail of the Boll, and the lower shadow line is larger than the real part, and it is currently falling further. The risk is relatively small, but there will be demand for bottoming out next week, so we should first pay attention to the support of the middle rail at the weekly level.