[Mad man says trend]Bitcoin has resisted at 20000, and the market outlook will observe whether 21200 can break through

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[Mad man says trend]Bitcoin has resisted at 20000, and the market outlook will observe whether 21200 can break through
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Madman says…

The Federal Reserve (Fed) will shrink its balance sheet at full speed in September. It is expected to reduce its holdings by $16.4 billion in September and $13.6 billion in October. This will be the largest reduction before September 2023. With a hawkish style, JPMorgan analysts believe that investors will gradually turn to value investment with the policy orientation, and should reduce their holdings of technology investments such as cryptocurrencies. Whether it is raising interest rates or shrinking the balance sheet, these two months are the last dark moment. As long as you can get through it, you will get better later. After all, the value of Bitcoin in circulation is too low. With the intensification of global adoption, no matter How the Fed is hawkish, Bitcoin with a limited total amount will always be recognized by more people, and then will increase their positions, and eventually a global consensus will appear sooner or later, so for long-term investors, Bitcoins around 20,000 are really nothing. fearful.

Bank of America still sees the Fed raising interest rates by 50 basis points in September and expects a hard landing for the U.S. economy, with each Fed tightening cycle often ending in a recession. Bank of America’s view is also very simple, even if it raises interest rates by 50 basis points, it will not escape the clutches of the economic recession. If the interest rate is raised by 75 basis points, the economic pressure will be unimaginable. At 2:00 a.m. on September 23, let’s witness the rate hike figures in September.

Singapore’s regulator intends to increase the customer suitability test to raise the threshold for users to participate in cryptocurrencies and restrict retail investors from entering the crypto market. The Singapore Monetary Authority believes that cryptocurrencies have no function other than speculation. Overall, the country of Singapore is not very friendly to the crypto market, so it will not be the first choice for people wandering in the currency circle in the future.

The FBI issued the latest security reminder for Defi investors, reminding everyone to study open source code carefully before investing, and urging the platform to improve monitoring and code testing to improve security. In the future, there will be a security agency that can make a set of automated supervision software, enter the name of the Defi protocol, and then click on the query to see whether the protocol is safe, but at that time, all the benefits of decentralized finance will be generated. The premium is no more.

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South Korea plans to establish an ICO system, and various regulatory authorities hold seminars on this matter. People in South Korea are going to supervise the listing of coins. This speed is really unusual. Mass innovation will start soon in South Korea. There is a high probability that various blockchain-style progress will be seen, and social forms may follow quickly. Change. Iran has approved the use of Bitcoin or cryptocurrencies for transactions and payment of import fees. It was only a pilot in the past few months. This time it is a real hammer. It seems that it feels good after the experiment. It is very convenient and cheap, so it is fully embraced. This is the value.

Stablecoins are now accepted for tax payments in the Mendoza province of Argentina, the fifth-largest region in the country with a population of more than 2 million. That is to say, another 2 million people will accept cryptocurrencies in disguise in the future, because the embrace of the government has given them a broader vision.

Coinbase publishes user privacy protection and compliance policy descriptions to protect user privacy under the premise of compliance. Coinbase has completely lined up to supervise and is out of the spirit of the blockchain. The madman is no longer optimistic about his final outcome. It is likely that he is burning himself for the establishment of global regulation in the future, but in any case, the company executives are already rich. Panic 27, has eased.

Coin News:

Bitcoin: The proportion of the total market value has dropped to 38.42%, which is close to a historical low. At this position, the probability of continuing to be weaker than other tokens begins to decrease. Therefore, it is expected to have a short-term strength, and consider all funds here.

Ethereum: The bottom of this round of correction has basically been proved, and the trend is also stronger than that of the pie, and the first rebound, with a strong pressure above 1650, let’s see if it can be done overnight.

FLOW: Meta supports the display of NFTs on Facebook and Instagram. Previously, Instagram supported the issuance of NFTs on Flow. It seems that this move will also stimulate Flow, and it is expected to start a rebound in the short term.

Bitcoin has resisted at 20000, and the market outlook will observe whether 21200 can break through, and a breakthrough can establish this “second bottom trend”.

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 author and blocker will not be responsible for the direct and indirect losses caused by investors’ transactions.

This article[The Crazy Talks Trend]Bitcoin resisted at 20,000, and the market outlook to see if 21,200 can break through first appeared in the block guest.

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