The Godfather of Coin Speculation 3.31: What are the factors that affect the outflow of Bitcoin?
News side:
News side:
1. According to today’s news, Canada Post announced that it will use Bitcoin to pay employees’ salaries; on March 30, PayPal announced the launch of a cryptocurrency checkout service, allowing American consumers to use their cryptocurrency to pay millions of online merchants around the world , support BTC, ETH, BCH, LTC 4 kinds of cryptocurrencies. According to AICoin statistics, at least 27 companies have announced to accept bitcoin payments, allowing customers to use cryptocurrencies for payment, involving 20 industries such as e-commerce and real estate.
2. Markets show that the yield on the 10-year U.S. Treasury bond rose 3 basis points to 1.74%.
3. According to news from the Reddit forum, Canada Post (Canada Post) recognizes that the domestic monetary and financial environment is changing, and has noticed that the public is increasingly adopting cryptocurrencies, and has decided to use Bitcoin to pay employee salaries.
4. Vetle Lunde, an analyst at the encryption data company Arcane Research, revealed on Twitter that the investment company already owns more than 800,000 Bitcoin (BTC), accounting for 4.3% of the current supply of the cryptocurrency. At current prices, the value of bitcoin held by bitcoin funds totals more than $46 billion. Among them, the digital asset investment giant Grayscale Investments (Grayscale Investments) is still in the leading position, accounting for 82% of the holdings.
Throughout March, the price of Bitcoin still mostly followed the news. So the godfather came today to briefly review the news and trends in March. On March 24, Musk once again emphasized the trading attributes of Bitcoin. And tweeted to confirm that Tesla supports Bitcoin payments, then this decision is considered to be a game-changer for cryptocurrencies.
The next day, asset management giant Fidelity Digital Assets announced plans to exit an open-ended index fund that tracks bitcoin prices. Although Bitcoin has been favored by more and more institutions, Dario, the founder of Bridgewater Fund, seems not very enthusiastic about Bitcoin. Because just last week Dalio pointed out that just as the leaders of the US government passed the Gold Reserve Act in 1934 to prevent private savings gold from becoming a wealth store of money and credit competition, a similar situation may happen to Bitcoin.
He also warned that the United States will adjust taxes to deal with huge debts, and the United States can target those who ditch the dollar and turn to bitcoin. And it also emphasizes that governments of all countries will attach importance to their own control over supply and demand, and do not want to cause supply and demand time and space due to the operation or competition of other currencies. Therefore, Bitcoin is likely to be declared an illegal currency. In his view, even if it is not banned, people will invent a more advanced new currency that will eventually replace Bitcoin.
This is one of the risks of Bitcoin, and the network security risks faced by Bitcoin cannot be ignored. In addition, Bitcoin is unlikely to be as private as some people speculate, after all, the Bitcoin system is a public ledger. If a hacker wants to know someone's bitcoin holdings, that person's privacy may not be as protected as it should be.
Although there is currently no news that Bitcoin is about to be banned, concerns about the prospect of Bitcoin are not groundless. On the one hand, the digital currency fever among governments around the world is constantly heating up, and the central bank's digital currency will reduce the demand for Bitcoin payments. Just in January, the Hong Kong Financial Development Council released a report on global central banks’ digital currency research and development, showing that four-fifths of the world’s central banks have launched and carried out digital currency research and development.
On the other hand, countries around the world continue to strengthen the supervision of cryptocurrencies. Countries such as the United Kingdom, the United States, Russia, India, and South Korea are closely monitoring Bitcoin transactions. sword. On March 16, India is considering banning encrypted assets, which may make it illegal to hold mining, trading and transferring currencies. If the ban becomes law, India will become the first major economy to make cryptocurrencies illegal. body.
After the news panicked the market, Bitcoin fell by about $1,000 at one point. At present, the market's views on Bitcoin are still divided. This shows that market participants have independent thinking about the Bitcoin boom, but in the long run this is another positive for Bitcoin. At least in the early VISA announced the use of USDC payment, Square has obtained the relevant license of Bitcoin, PayPal has allowed users to buy and sell cryptocurrencies and is also acquiring digital currency storage company Cury, and Bank of New York Mellon plans to provide institutions with Customers issue Bitcoin and other cryptocurrencies, BlackRock Group announced that it has begun to enter the Bitcoin field, and MasterCard has issued digital currency trading cards for customers.
The godfather of currency speculation 3.31 market strategy layout
Bitcoin:
After hitting 58500 in the early morning yesterday, it encountered resistance and fell back under pressure. This position is the high point of the rebound after failing to break through 60000 consecutively in the previous period. In the early morning, the currency price rebounded around 57100 and then started to stabilize and rebound again. The highest rebound in the Asian market yesterday was 59350 Nearby, there is only a difference of 50 US dollars between our 57700 orders and stop profit. In the evening, the currency price fluctuated with 59000-58500. After more than ten hours of turbulence, the market once again pulled up from 58600 in a straight line today to refresh yesterday’s high point, with a maximum rebound of 1200 US dollars to Near 59800, the current currency price has dropped slightly by about 400 US dollars. Just after the 1-hour level rushed up to 59800, it did not fluctuate and adjust like the previous trend after the breakthrough. Instead, it fell sharply by 3,000 points, and the minimum retracement was around 56800. At present, the short-term strong upward trend has been temporarily broken. More adjustments are needed during the day.
Operation suggestion:
The godfather of currency speculation has been in the currency market for 7 years. From being ignorant at the beginning to becoming familiar with it later, from losing money at the beginning to making money now, from making orders blindly before to investing rationally now, from fighting alone before to now with a team operate. 7 years is just the beginning, what I want to do is 20 years, forever. I firmly believe that those who do everything for 7 years must turn an industry from a public to a professional. The content of this article is exclusively planned and released by the team of senior analysts, the Godfather of Speculation (public account: Godfather of Speculation). If you want to know more about real-time investment strategies, solutions, methods, trading techniques, operating skills, and K-line, you can add it to my learning Communication, I am the godfather of currency speculation, I hope to help you find what you want in the currency circle.
The godfather of currency speculation has been in the currency market for 7 years. From being ignorant at the beginning to becoming familiar with it later, from losing money at the beginning to making money now, from making orders blindly before to investing rationally now, from fighting alone before to now with a team operate. 7 years is just the beginning, what I want to do is 20 years, forever. I firmly believe that those who do everything for 7 years must turn an industry from a public to a professional. The content of this article is exclusively planned and released by the team of senior analysts, the Godfather of Speculation (public account: Godfather of Speculation). If you want to know more about real-time investment strategies, solutions, methods, trading techniques, operating skills, and K-line, you can add it to my learning Communication, I am the godfather of currency speculation, I hope to help you find what you want in the currency circle.
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