Actively embrace supervision, the market has not yet broken out of the downward channel
Although the current specific regulatory rules have not yet come out, it can be seen that some official media or more mainstream media are already exaggerating the regulatory atmosphere.
The Securities Times published an article "Banks vigorously contain virtual currency transactions and it is still difficult to identify large-scale and accurate identification", which mainly uses manual and system automatic discrimination to strictly control the transfer of overseas currency speculation accounts and establish anti-corruption among major banks. Money laundering system. A few days ago, the National Finance Commission mentioned the content of controlling transactions, the main purpose is also to control the money laundering channels.
At the same time, the Economic Information Daily also published an article on "Correcting the Chaos of Virtual Currency Hype Is Urgent", mainly emphasizing what happened a few days ago, which is to play a role in exaggerating the atmosphere or expressing attitudes.
Such articles are not uncommon these days, and the purpose they want to achieve is also very clear. We also fully support the opinions of the National Finance Commission on Bitcoin. Compared with continuing the chaos in the circle, the official intervention or supervision Whether it is for the cryptocurrency market or the blockchain industry, it is very beneficial in the long run.
Secondly, as far as the market itself is concerned, from last Friday to today, the market is basically in a chaotic state, whether it is an overreaction or a "surprise" happened, which shows that in the past few days, the market's Emotions are also in a state of disorder and venting, so if, for example, the specific whole comes out or is slowly implemented, the market will still be unstable, but it will not be like the past few days. The market is prepared to face the worst situation. If in the process of announcing policies or implementing them, the market may still experience the situation that "the situation is far from as fast as imagined", the market's reaction will also be different. It is relatively limited, so there is no need to be too pessimistic on the whole.
On the other hand, Morgan Creek’s Anthony Pompliano recently concluded that Bitcoin whales (entities holding between 10,000 and 100,000 BTC) bought 122,588 BTC at the peak of last Wednesday’s market crash, according to data from Glassnode, Most of the traffic to cryptocurrency exchanges comes from the United States, and at least one high-profile whale who sold Bitcoin for $58,000 has not only re-hoarded Bitcoin, but also increased their Bitcoin holdings. The unknown entity sold 3,000 BTC on May 9, then bought back 3,521 BTC in three separate transactions on May 15, 18, and 19.
This is a microcosm of the recent market. Although most people are in the panic of the market plummeting, and many people have sold their bitcoins, in fact, retail investors are currently selling whales to buy, domestic users are selling and foreign users are buying. Of course, you don’t have to think that we are selling chips passively. This big move this time is actually not a simple chip conversion. There is a deeper meaning behind it, which may involve the Fed’s quantitative easing. The carrier part, and we have only taken countermeasures, which will be discussed in detail with you in the future.
Back to the market, today’s market rebound is quite strong. To be precise, the market has continued to rebound since 12:00 midnight last night, and it has returned to above $36,000.
In the past two days, everyone’s feelings should be very deep. The market has not appeared so-called one-sided. The emotions will be amplified during the process of rising or falling. However, when the emotions in this direction have not been fully released, the market will suddenly turn again. , which is the so-called uncertainty and instability.
Although yesterday's rebound was more morale-boosting, it has not broken away from the recent downward channel. When the downward channel is not so obvious, maybe everyone can breathe a sigh of relief. The short-term market is not so sure when it runs above 30,000 US dollars, so it is better not to be impatient. After the sharp drop, not only the option of buying the bottom immediately, but also waiting.
Other currencies: In the past two days, other currencies have fallen in their own ways. In addition to being driven by the market, ETH, for example, has fallen more aggressively due to the downturn in the DeFi sector. Uncertainty, the drop is particularly dismal, and most of the others are also half-baked, but some currencies may fall this time and will never rise, so don't blindly buy bottoms.
For DeFi, I am still very confident, because DeFi is a very important part of blockchain technology exploration, and it will not disappear due to emotion and reason. It will even become stronger in the future. It may still take a little time, but I remind everyone not to ignore it. Drop this board.
