What is the future of Bitcoin's long-term consolidation?
News side:
News side:
1. According to CryptoSlate, American billionaire and NBA Dallas Mavericks team owner Mark Cuban (Mark Cuban) said that Ethereum is a better value store than Bitcoin. Cuban said that Ethereum is more attractive in his eyes. He believes that Bitcoin is not as practical as Ethereum, and its versatility makes Ethereum a better store of value.
2. According to data from OKLink, the frequency of transactions on the Ethereum chain has exceeded that in January 2018 at the beginning of this month. In the past seven days, the number of daily confirmed transactions on Ethereum reached 1.316 million, and the number of confirmed transactions in a single day on April 1 reached 1.3844 million, setting a new high in the number of confirmed transactions in a single day on Ethereum.
3. Grayscale founder and former CEO Barry Silbert tweeted today: “Coinbase is better than almost all existing financial services (growth, profit margins, prospects, etc.).”
4. Wall Street Journal reporter Paul Vigna tweeted today that Coinbase’s revenue in the first three months of 2021 has more than doubled that of 2020. Earlier news, Coinbase released its first quarter report, saying that it expects total revenue in the first quarter to be about 1.8 billion US dollars, and the number of verified users is 56 million.
The current Bitcoin has been consolidating for a period of time, and it has not been able to stand firm after hitting $60,000 several times. So it is still in a period of consolidation, but the current consolidation seems to be accumulating a force. The godfather remembers that Bitcoin also consolidated for 82 days when it was between US$10,000 and US$20,000, and then there will be a period of consolidation at important time nodes.
Therefore, it is actually a good thing to have a period of consolidation at the $60,000 mark this time. The godfather is also looking forward to a new high breakthrough for Bitcoin after this consolidation. Just recently, Ethereum has reached a new high. Yesterday, the Godfather’s article also talked about the great potential of Ethereum. In addition, the ecological construction of Ethereum is actually very good. With the development of DIFI and the rise of NFT later, most of the applications are still on Ethereum.
We have seen that although the ecology of Ethereum has encountered some problems, its price and gas cost have a certain fetter with its development. However, it is still continuously launching new solutions, including many transformations to the ecosystem. Therefore, the godfather of Ethereum's continuous innovation is also very much looking forward to, at least the bull market will continue.
Some time ago, a Wall Street analyst talked about the fact that the price of Bitcoin is likely to be close to a high point, and a crash is coming. But after a period of time, there is no second such statement, because it is well known that the long-term bull market of Bitcoin is still in progress. The reason is the changes in the global financial structure, whether it is the bailout policy or the Fed's money printing and global release of quantitative easing, these have brought about changes in the global financial system.
When these economic changes are undergoing and have not been completed, Bitcoin will continue to be in a bull market. In other words, this process is still very long, and it may be in this process within 5 or 10 years. But is there a possibility of entering a bear market? In the short term, the godfather believes that there may still be a few months, because it is necessary to analyze some stock market conditions in the third quarter of the United States.
Because the U.S. stock market will adjust in the third quarter due to economic stimulus, Bitcoin has no possibility of crashing in the short term and is still in a bull market for a long time. Of course, the market volatility of Bitcoin is still very large. To a certain extent, when the SEC approves and approves many EFTs, there is a certain market correction in the market, which is also a responsible attitude towards investors.
4.7 Market Strategy Layout of the Godfather of Coin Speculation
Bitcoin:
Bitcoin:
The key support below is the 56,500 line where the 4-hour lower track and the 180-day moving average are bonded. This position is also where the daily line-level middle track coincides with the 30-day moving average. , adopt the method of selling high and closing low, and wait patiently for the breakthrough of the market!
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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