Bitcoinwin: Looking at the market, a breakthrough point appears, take you to find out
According to the Bitcoinwin market, BTC has continued to fall in the last 24 hours, and the drop has been relatively large. The largest drop in the past 24 hours exceeded 13,000 points. The market fell back under pressure after reaching around 58,000 at noon yesterday, and then driven by the bad news, the market continued to fall. The lowest pin reached 45832, a new low in the past two months, and then the market gradually rebounded. As of the publication, BTC was reported at 50,800, down 8.46% within the day and 12.07% within 24 hours.
Why overnight, BTC plummeted 10,000 points, causing panic in the entire cryptocurrency market?
In fact, there are three main reasons for this decline.
First, Tesla CEO Musk tweeted: For carbon neutrality and global environmental considerations, Tesla has suspended the use of Bitcoin payments.
Personally, I think that among the three factors, the most important factor must be the influence of Musk. The current cryptocurrency world is still dominated by influence and the power of IP. Just like NFT, this is a necessary process for the cryptocurrency world. , is also an inevitable pattern state. The pattern of "centralization, personal IP, and pure decentralization" will exist for a long time in the development process of blockchain, especially in the middle and early development process.
Second, the decline in U.S. stocks continued to expand. The Dow fell more than 600 points, hitting a new low since April 13. The Nasdaq fell about 2.6%, while the S&P fell about 2%.
The impact of the sharp rise and fall of US stocks on the cryptocurrency market is self-evident. The close relationship between US stocks and BTC has become higher and higher, which has been shown in the second half of last year.
Third, at the technical level, BTC once again entered the pressure zone of 58,000-60,000. The selling pressure is relatively large, and the demand for callbacks has increased. Including the short-term 4-hour level, the deviation between volume and price is also serious.The wave shape seems to have entered the back wave stage, including the daily trend, and has also stepped out of the arc top shape. The upward attack strength has been significantly reduced, and the downward trend has become prominent. These all seem to indicate a lower market outlook. This is a very bad situation. .
Although there are various signs that the market may fall further in the future, as an investor, there is no need to worry too much, because nowadays, in major exchanges, not only spot is the only investment and trading method, but they also have derivatives such as contract trading. We can use contract trading to go long or short. While accurately grasping the direction, with an appropriate magnification, we will naturally make a lot of profits. It is not to say that under the bearish trend, it is impossible to make money by shorting.
