The market is shrouded in a shadow, it is better to stay still
A document from the Financial Commission directly plunged the market, which had just rebounded for a day, into deeper panic.
To be precise, it was the fifty-first meeting held by the Finance Committee. The meeting was mainly to study and deploy key tasks in the financial field in the next stage, and Bitcoin was not avoided. The meeting pointed out that Bitcoin mining and trading behaviors should be cracked down.
The impact of this sudden news on the currency circle is relatively phenomenal. This is a related decision made at a very high level, so the impact and implementation will be relatively strong.
The two points of Bitcoin mining and trading behavior are the key points. In fact, mining has long been expected, because my country will vigorously carry out carbon neutrality this year, and Bitcoin's high power consumption and high carbon emissions will undoubtedly become the key target of suppression. This move will reform nearly 70% of the original domestic mining computing power, and generally transfer it to foreign countries, at least those countries that are not so strong in carbon neutrality, and the reputation of "powerful computing power" will no longer be .
And trading behavior can be big or small. The biggest aspect is that transactions may not be allowed in the country at present. Although from an official point of view, there are actually no digital currency exchanges in the country at present, but everyone must know what the actual situation is. The prohibition of transactions is also to effectively prevent related money laundering, which itself is an act that any citizen and platform in the country should support, even the cryptocurrency market is not outside the law.
This concept was only proposed at the current meeting, and how to implement it needs to be implemented step by step. What is certain is that this may be a reform for the domestic cryptocurrency market. As for whether it is another "94", it is still unclear. Sure.
However, it is also because of the uncertainty in this aspect that some trading platforms have taken more cautious actions. For example, several small trading platforms announced their withdrawal from the domestic market two days ago, and today a large exchange also announced that Re-opening contract transactions for new users is also based on prudence, and uses concessions to support the official uncertainty supervision.
In fact, only from the perspective of closing the contract transactions of new users, it is good for the market. Although most of the small partners like contract transactions, there are actually very few users who make profits through contract transactions, and more of them lose money because of it. At present, Coinbase can be regarded as the only exchange that has been recognized by the regulators. In fact, it has shown everyone the correct posture of compliance, and some markets that should be abandoned must be abandoned.
Having said that, yesterday's bad news did not cause the market to fall particularly much, and it may also have something to do with the pricing power of the current market, and overseas countries accounted for the dominant part. It was previously reported that some SEC officials said that the Bitcoin ETF should be approved. Although there is no definite news, if such overseas events that are beneficial to Bitcoin happen in the future, the market will still go as it should, and with the migration of computing power, domestic pricing power will only become smaller and smaller.
In short, things are not completely clear now, and the fog will gradually be cleared. This change in the domestic market should be long-term. I suggest that everyone can maintain a cautiously optimistic attitude.
Going back to the market, continuing the impact of the news last night, the downturn in the market continued until the early morning of this morning, with the lowest reaching around $33,000, and then rebounded, reaching around $38,000 at one point, and is currently oscillating around $36,000.
The current market as a whole is still in a volatile trend, and the volatility is relatively large. Although the day angel continues to fall this year, it seems that the decline is not too strong. At least it is not the desperate scene under the impact of yesterday's news. At present, the decline has temporarily stopped. sign up.
From the perspective of the market, the callback on the 4-hour line in the early morning of this morning looks like a second dip. At least there is no sign of further decline. Generally speaking, the market is on the road to stabilization. It is actually difficult to judge what the current technical market is. It still depends on the next big movement at the macro level and the subsequent chain reaction of the market. At present, it is recommended not to operate, do not buy bottoms, and do not increase positions.
Other currencies: At present, other currencies do not have an independent market, and most of them are shrouded in the shadow of the general environment. Now most currencies are not likely to act rashly. To be precise, they should still wait for Bitcoin’s response. Don’t do it at this time Operate blindly.
