[Mad man says trend]As long as it stands at 31000 overnight, the pressure above 34000 is just around the corner

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[Mad man says trend]The rebound is not the bottom, but the bottom does not rebound
Blockonomics



Madman says…

The data on the Bitcoin chain is getting healthier and the addresses held for 0-6 months have reached an all-time low, indicating that Bitcoin holders are now stronger than ever, and retail investors and new investors only account for the total 23.9% of the number, 10k-100k holding addresses accounted for 12% of the total Bitcoin, reaching a one-year high, all signs are showing, the bullish signal is more obvious, Bitcoin reached the bottom near 30,000 The probability is high, the holders will not sell any more pressure, and the later time will be handed over to the incremental funds. Any good news may bring about a wave of rising market, because the increase caused by the increment will drive the stock funds. Enthusiasm, in short, no worries about the long-term trend.

The open interest of CME Bitcoin contracts decreased last week. The long-to-short ratio of institutions was 1:1.3, the ratio of large investors was 7.8:1, and that of retail investors was 1.1:1, which means that institutions and retail investors have great differences in the market, while large investors are still consistently bullish. , the overall data is healthier than before, and the continuous downturn has washed away a large number of retail investors who are long.

The central bank of Uganda has made a 180° turn in its attitude towards the crypto industry. Previously, the central bank said that any institution that facilitates cryptocurrencies will have its license revoked. Now Uganda has launched an encryption sandbox program to encourage relevant companies to enter the regulatory sandbox. This means that the Ugandan government will re-examine the encryption market and embrace encryption through regulation. In the future, more and more countries will correct the past, but it will be relatively difficult for some big countries to turn around.

Dubai retail giant Majid Al Futtaim has cooperated with Binance to directly access 29 shopping malls and 13 hotels, accepting cryptocurrency payments, which almost covers all the largest shopping malls in the UAE. It can be seen that cryptocurrency has been popularized in this country. To what extent, in a sense, its popularity may exceed that of the United States. Today’s rise in the market is related to this news. After the news was announced, the market has gradually strengthened.

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The mayor of Australia’s Gold Coast said residents could pay city government fees and property taxes in bitcoin in the future. This is a signal of innovation, and it also means that another big city fully supports Bitcoin. The Gold Coast may be the Miami of Australia.

The survey shows that most U.S. holders of cryptocurrencies are high-income people and almost all have traditional financial backgrounds. It shows that investing in cryptocurrencies in the United States is also a high-cognitive group. If this survey is carried out in China, I am afraid the proportion is even more terrifying. People who can play the currency circle every day have practiced a martial arts. Such a group of investors who love to learn must be in all walks of life. They are all elites. Whether a person has money in the future does not depend on his current finances, but whether he has the ability to continue to learn. When one day he accumulates enough, he can explode with nothing.

Cybersecurity firm Octagon Networks converted its entire balance sheet to bitcoin and accepts bitcoin payments. This is a very crazy move, equivalent to all the company’s liquidity All in bitcoin, although the amount is unknown, but this kind of asset-light technology company does have the strength to buy bitcoin, because they pay relatively low and can tolerate bitcoin large fluctuations.

Panic 13, extreme panic.

Coin News:

Bitcoin: The rise of Bitcoin today is very similar to what the madman said before. One Yang passes through N Yin. As long as it stands firm at 31,000 overnight, the pressure above 34,000 will be just around the corner, and the overall bullish thinking will be the main idea. After all, after this wave of rises, there are very few investors who dare to chase the high, so the probability of a true breakthrough today is higher.

Ethereum: The core developers said that the mainnet merger date can only be determined after the two testnets are merged. At present, the other two testnets (Goerli and Sepolia) have not yet had a clear time, so the launch time of 2.0 is still unknown, and it is expected to be at least 9 month later.

Today’s rise has brought the amount of Ethereum short liquidation to a 3-year high. It seems that all previous sell-offs were smoke bombs thrown by short sellers, and those who chased the shorts were killed in an all-round way. Is it the looting before the real decline or the starting point of the rise, today and tomorrow? to know the answer.

SOL: The total sales of NFTs on the chain reached 2.35 billion US dollars, second only to Ronin and Ethereum. Ronin is mainly due to the contribution of Axie, indicating that SOL is still the first choice for high-throughput chains, so the future development is still worth looking forward to.

XRP: Ex-developer relations director said that Ripple will rise to $100 in the future, just like the prediction that Bitcoin will rise to $60,000 in 2009 was teased. The madman believes that this number cannot be reached in at least 10 years. After all, the total amount of global currency is limited, and it will rise by 200 times unless Ripple becomes the only universal currency in the world, which obviously will not happen, but there is still confidence in turning 3-5 times in the future. of.

SNX: It has become one of the cryptocurrencies with the largest amount of giant whales in the past 24 hours. Although the logic is unclear, this position does have the ultimate cost-effectiveness.

ADA: The trend among the old mainstream coins is relatively strong recently, and there is continuous momentum. You can pay attention.

The point is not to be taken down at night, the starting point of this round of rising is expected to be established.

Disclaimer: The article only represents the author’s personal views and opinions, and does not represent the objective point and position of the block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the authors and blockers will not be responsible for the direct and indirect losses caused by investors’ transactions.

This article[The Crazy Talks Trend]As long as it stands at 31,000 overnight, the pressure above 34,000 is just around the corner and will first appear on the blocker.

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