[Mad man says trend]It is expected that there will be a change tonight, and there is still room for a rebound

[Mad man says trend]It is expected that there will be a change tonight, and there is still room for a rebound

Madman says…

Bitcoin and Nasdaq will be the worst performing assets in 2022. Bitcoin will drop -48.6% and Nasdaq will drop -20.8%. In the economic recession and tightening cycle, people’s food and clothing are just needed, so technology Bubble-like and virtual assets have been sold off by a large amount of funds, and they have turned to the most certain categories, such as some food companies or cash cow companies with monopoly positions. Only these assets can achieve hedging in a global crisis, so in the Before this recession and tightening have not yet reached an inflection point, technology assets will still not be sought after. Only after the economic recovery and the re-release of water will these assets have the imagination. Therefore, don’t expect the market to reverse soon, be more rational face the current global situation.

The weekly report on CME Bitcoin futures positions shows that the institutional long-to-short ratio is 1:1.1, the long-to-short ratio of large investors is 4.8:1, and the long-to-short ratio of retail investors is 1.2:1. , not a very good phenomenon.

The Israeli authorities restrict the use of cash, stimulate digital payments and crack down on illegal activities. In the future, when cash is replaced by digital assets, those illegal and criminal economic activities will be more difficult, and it will also force these black producers to turn to cryptocurrencies. This is also the future market. One of the incremental sources of value, as the global digital transformation is accelerating, more and more countries will completely abandon cash and embrace digital assets that are easier to regulate.

Legendary investor Kevin O. Leary believes that real traditional financial institutions have not invested in cryptocurrencies, especially most sovereign funds and pension funds. They have not yet realized the importance of Bitcoin allocation. When they adopt it one day in the future, It’s the traditional finance that really steps in, and once they get in, we’ll see the price of bitcoin double overnight, which he thinks will happen in January-February 2023. I don’t know where this logic came from. At least the madman doesn’t think that these foundations will participate in Bitcoin investment overnight. This day will definitely come, but it is not so soon.


Say a few public chain NFT data:

Ethereum: On-chain NFT sales in July exceeded $500 million, a 12-month low; SOL: On-chain NFT sales in July were less than $60 million, a record low; MATIC: On-chain NFT sales were insufficient in July $3 million, a 16-month low; Opensea: July transaction volume fell 90% from January’s all-time high.

There are various signs that the NFT market has entered a freezing point, and it can basically declare bottom. After the bubble subsides, the real gold will be gradually discovered in the future, and the weak can be strictly removed and the strong.

Let’s take a look at the active data on the chain:

Bitcoin addresses holding 0.01 and more than 0.1 all hit record highs; addresses holding 1 and 10 ETH hit record highs; the number of ETH exchanges in the past hour MA7 hit a record high; the proportion of active Bitcoins in the past 5 years A record high; the daily gas fee generated by Ethereum is only 5% of that in November 2021;

This shows that the puppies have all picked up the car, and the market has not really recovered, so it can only be regarded as a rebound rather than a reversal, and the height of the rise will be relatively limited.

The market value of DOT surpasses Dogecoin and ranks 10th. The top 10 tokens are all stablecoins and public chains. This also gives us a layout idea. The public chain is the most important thing in the current blockchain infrastructure, and it is also the easiest in the future. It may be a good choice for this position to explore some potential public chains on the track that has raised the market value.

Panic 33, has increased.

Coin News:

Bitcoin: Bitcoin has been horizontal for 4 consecutive days, and time is exchanged for space. It is expected that there will be a change in the US stock market after the opening tonight. Judging from the situation on the market, the selling pressure is not particularly large, and the probability of an upward change is still high, and The real strong pressure area above is above 27000, so there is still room for a rebound, but after another wave, it is possible to consider withdrawing some short-term positions.

Ethereum: Hedge fund Arca analysts said that Ethereum is likely to surpass Bitcoin’s market capitalization because it will turn deflationary after 2.0 and become more scarce. Almost everyone is optimistic about this wave of Ethereum 2.0. This consensus is not a good thing, so the expectations should not be too high. The pressure around 2000 is still great.

XRP: 900 million Ripple was unlocked from the escrow wallet. Finally, the CTO was finished and started to unlock again. It is really far away, and it will continue to be linked in the near future.

ENS: The number of newly registered domain names in July exceeded 370,000, a record high. This token belongs to the value discovery period, and its position is not high, so continue to hold it.

SUSHI: The locked-up volume of the agreement in July increased by US$133 million, an increase of about 30%. This rate is still quite large, indicating that the agreement is still developing, and it is possible to make up for the increase.

AAVE: The GHO proposal to issue over-collateralized stablecoins has been approved, which is a medium and long-term positive. This position is not high, and you can add positions or hold them.

The international situation is very chaotic recently. It is uncertain whether the US stock market will be affected and fall in the evening. For the encrypted market, it is still judged to be a rebound relay.

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[Mad Men Say Trend]is expected to change tonight, and there is still room for a rebound. It first appeared in the block guest.


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