Bitcoin market analysis: Bitcoin price continues to hit new highs, and the bull market is coming?
Yesterday, the market was in another reversal process. It had pulled back to around 13,500 during the day, and it still rebounded against the trend at night. At the highest point, it broke through 14,250 to set a new high for the year. Of course, it is mainly due to the rise in the opening of the U.S. stock market at night. Su Zhe also said in the article last night that although Bitcoin fell during the day, there will be a good show after the U.S. stock market opens at night. There are also many, mainly because the process and results will indeed have an impact on Bitcoin. Although it is good for Bitcoin in the long run, short-term fluctuations also exist.
Last night, under the influence of the U.S. stock market opening higher, Bitcoin started the first wave of rebound. At around 12 o'clock in the middle of the night, affected by the news of ETH2.0, it refreshed the high level of the year, and it continued to maintain a high level after the opening. There is no sense of malaise.
At around 12:00 last night, the developer of the Ethereum test network announced that the release date of ETH2.0 is set for December 1st, and also confirmed the deposit contract address of the main network
0x00000000219ab540356cBB839Cbe05303d7705Fa, V God also confirmed the news.
It is not too different from the November that was circulated on the market in the early stage, and it can be regarded as having definite news. In December, we can see the true face of ETH2.0.
But going online is not that simple. It’s not that when the time comes, the mainnet will be announced directly, but before that, a certain block height needs to be reached. According to official sources, the creation block time of ETH2.0 is set to 1606824000, that is December 1, Beijing time.
If you want to trigger the creation block, it is also conditional. Seven days before December 1, at least 16,384 validators will be born, and each validator will pledge 32 ETH, that is, there must be 524,288 ETH in the deposit contract; or When this value is reached, the genesis block is generated 7 days after reaching it.
According to the market reaction when the ETH2.0 testnet was launched before, it basically exceeded the minimum threshold for start-up, reaching millions of ETH at one point, and there are still many supporters of ETH. Besides, verification is also profitable.
Briefly, according to the official data, as the number of participants increases, the POS revenue will drop from 20.3% at the start-up period to 4.6% (total deposit of 10 million ETH). Of course, becoming a verifier also needs to fulfill obligations, naturally Need to input costs (hardware, software). If you need to use a VPS server (AWS, Hetzner or Linode can be used), the income will drop further, and even a loss will occur after the pledged amount reaches 5 million ETH. If you choose "At home", the input cost is relatively small, and the actual The net yield will be between 17.7%-1.7%.
To sum up, no matter which method is achieved, the income is the highest when it reaches 524,288 ETH just now. As the number of pledges increases, the income will gradually decrease, and losses will occur when a certain amount is reached.
It's also worth noting that instead of sending tokens directly to the address above, you need to use a dedicated Launchpad and follow the instructions, or join a service provider. Since the release of the ETH2.0 address, 14600ETH has been received, but this part of the ETH will be locked and cannot be retrieved, so follow the instructions.
If you find it troublesome and don’t want to be a validator, you can only pay attention to the price of ETH. After ETH goes online, you will need a lot of ETH. Even before reaching the genesis block, you need at least more than 500,000 ETH, and it is expected to be more than one million ETH is relatively easy.
When the news was announced last night, ETH directly pulled the market, rising above $400, reaching a peak of $408, and it also drove the rise of Bitcoin, which shows that there is still a relatively strong stimulus to the market.
Happiness is only for BTC and ETH, LTC is also doing well, and other currencies are difficult to drive whether BTC or ETH rises. Although they have not fallen yet, it can be expected that if BTC falls, other currencies will definitely fall. For investors who own altcoins and other mainstream currencies, it is undoubtedly in a relatively desperate situation.
Back to the market, since 4:00 p.m. yesterday, the market has been rebounding. It has broken through 14,400 US dollars in the afternoon and is constantly refreshing new highs.
From the perspective of the 4-hour line, it basically rebounded continuously from the lower track of the operating range to the vicinity of the upper track of the range. At present, it is also natural to face the pressure of the upper track. In the short term, the continued upward rush is still a high probability event.
According to the strength of the intraday trend, 14500 is not a big problem. It should be noted that you can continue to hold what you have held before, but you need to pay attention to chasing higher after the rise. Normally there will be an acceleration stage after a breakthrough, but It may be followed by a faster fall, so we need to be more cautious in chasing higher.
The current rise of Bitcoin has various influences. The instability of the international situation, the institutions have been buying and buying, and the market confidence boosted after the negative influence has expired. Pushing up the price, many people think that the current bull market is already, but it is very likely that it has just started now.
ETH
Although ETH had a wave of rise yesterday, we can see the difference between it and Bitcoin some time ago, one is obviously rising, the other is obviously falling, and ETH is also the epitome of the trend of other mainstream currencies and altcoins, ETH is okay One point, with ETH2.0 and more believers, the community is also doing things, and we can still look forward to it later.
