[Madman Says Trend]It is expected to fluctuate around 20,000 over the weekend – Programmer Sought

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[Madman Says Trend]It is expected to fluctuate around 20,000 over the weekend – Programmer Sought
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Madman says…

The probability of the Fed raising interest rates by 75 basis points in November rose to 68.7% again, which stems from the re-face of Fed officials. The officials believe that they will not cut interest rates in 2023 and will continue to raise interest rates to keep inflation within 2%. He also believes that the unemployment rate announced on Friday will not shake the Fed’s view of reducing inflation. This hawkish remark has appeared again, making the market scare the pants again, but the US stock market has rebounded sharply for two consecutive days, and today’s correction is still regarded as a normal correction. , the trending oversold rebound has not ended, and the target of Bitcoin’s attack at 21000 remains unchanged. Tomorrow, the US will announce the non-farm payroll rate, and the madman expects it to be lower than expected, because the number of initial jobless claims exceeded expectations last week, indicating that the labor market has been affected to a certain extent. This is also due to the economic downturn caused by continuous interest rate hikes. This will help reduce inflation, which will be beneficial to the market. Specifically, we still have to wait for the CPI announcement next week. Under the circumstance of high oil prices, it is still difficult for the CPI to drop significantly, but it should be relieved from the previous month.

The minutes of the ECB meeting show that most members believe that interest rates should continue to increase by 75 basis points, and Europe will follow the pace of interest rate hikes in the United States. After all, inflation is more serious and the economy is worse, and there is no choice. In terms of cryptocurrencies, the text of the MiCA regulatory bill was finally passed and will take effect in 2024. The European Union has formulated comprehensive laws and regulations for the cryptocurrency market. Once the implementation is started, many large institutions will be expected to participate and deploy. Therefore, 2024 may be the year of Europe. The explosive period of the cryptocurrency market.

The Central Bank of Namibia stated that it is possible to incorporate encrypted assets into the financial innovation regulatory framework and accept this form of funding, which means that Namibia also supports cryptocurrencies as a payment method, and the territory of cryptocurrencies has expanded again.

The CEO of the Ontario Securities Commission of Canada said that cryptocurrencies should be regulated on the same level as stocks and bonds, and that their research shows that 30% of Canadians will buy crypto assets within a year, so quickly complying with regulations is a challenge. Canada will become an incremental force in the next year, we will wait and see.

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The biggest thing that happened today is the BSC hack. It experienced the largest attack in history, involving an amount of 718 million US dollars. However, Binance is worthy of being a super aircraft carrier company. It responded very quickly. Stable currency institutions such as Tether blocked hacker addresses, but the hackers obviously came well prepared, from getting tokens to mortgage loans to cross-chain transactions in one go, stealing nearly $100 million in a short period of time (escape from centralization) The clutches), the rest have either not been transferred out, or have been frozen by BSC or Tether. The overall reason for the theft is that there is a problem with the cross-chain bridge BSC Token Hub. The attacker exploited the loopholes in this protocol to generate 2 million BNB out of nothing, and then mortgaged and borrowed stable coins, and cross-chained to ETH and other decentralized networks. , the hacked funds cannot be recovered. After this operation, BSC is expected to be labeled as a centralized blockchain again. After all, a blockchain that stops when it stops is not much different from a network server. It also proves from the side that Ethereum’s value, a large-scale public chain that truly conforms to the spirit of decentralization and high security. At present, the BSC chain has been upgraded to version 1.1.15 and has resumed operation.

Panic 23, turned into extreme panic again.

Coin News:

Bitcoin: The open interest of futures is close to 604,000 bitcoins, which is at an all-time high, which means that high volatility is coming. In any case, there is no selling logic for bitcoins below 20,000. Live, Bitcoin will always hit a new all-time high due to the release of water. This is the simplest logic. In the short term, it is still oscillating around 20000, and it is likely to spend the weekend like this.

Ethereum: The trend is slightly stronger than the pie. At present, the most cost-effective public chain for decentralization, security and efficiency is still Ethereum. The long-term value is obvious, especially after the 2.0 upgrade, the inflation rate has been much lower than Bitcoin.

MKR: Allocate 500 million DAI to buy 80% of U.S. Treasury bonds and corporate bonds. The stablecoin company really makes money, and the 500 million does not need to do anything. The annual interest is at least 25 million US dollars. For a stablecoin company with a scale of 10 billion US dollars, during the interest rate hike cycle, the annual interest is at least 500 million. , This is the real lie down to win life. Continue to be optimistic about MKR, which ranks among the best in profitability among all protocols.

BNB: There was a short-term decline due to theft, but the decline was not large, and the fundamentals did not change. The loss of 100 million US dollars is a drizzle for the Binance Empire. Those who are optimistic about BNB for a long time can continue to increase their positions during the decline.

Most tokens are still in the doldrums, waiting for recovery~

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.

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