[The madman talks about the trend]I don’t see a very obvious direction, but the downward force is relatively limited

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[The madman talks about the trend]I don’t see a very obvious direction, but the downward force is relatively limited
Bybit



Madman says…

There is still no very positive signal in the market. After the opening of the US stock market in the evening, the market volatility is expected to intensify, but it is still difficult to tell the direction. The Hong Kong stock market has opened normally today, and the trend is weak and volatile. OPEC’s plan to cut crude oil production has once again made oil prices soar. On the one hand, the Fed hopes to increase supply to ease inflation, on the other hand, OPEC tightens supply and raises prices. The rise in crude oil will increase the cost of transportation, which will lead to various industries. The price is high, this world is such a strong prey, the more turbulent and chaotic, the more people take advantage of the opportunity to profit. In Europe, inflation is crazy because of the soaring crude oil and natural gas. In this context, the central banks of Europe and the United States will inevitably choose to continue to fight inflation. Whether it is the rise of crude oil or natural gas, the impact on the entire monetary policy is obviously not beneficial. The crypto market will also be indirectly greatly affected.

Russian paramilitary groups are raising funds in cryptocurrencies that will be used to provide supplies to Russian mercenary groups, and Ukraine has also raised cryptocurrencies in its official name for donations in previous months. On the whole, the amount of funds is relatively small, and the degree of benefit to the market is relatively limited.

The Bitmex exchange plans to launch the platform currency bmex by the end of the year. This old-fashioned exchange has started issuing coins now. It also shows from the side that the financial situation is not good. It is necessary to strengthen the operation of the exchange through currency issuance financing or token incentives. In the cold winter, many companies and practitioners in the industry will eventually be eliminated. This is the only way for each cycle.

The survey shows that only 30% of millennials are willing to invest in cryptocurrencies. This proportion was close to 50% in 2021. When the market price is high, people are more willing to invest in cryptocurrencies. The market price has fallen, and the ground is full of opportunities When the time comes, people choose to give up instead. This is human nature. As time goes by, this despair will become more and more serious, and only 20% will make money in the end.

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Baselbank research found that the world’s largest bank holds $9 billion in crypto assets, mainly involving bitcoin and ethereum customer service, which shows that the crypto market has taken the lead in entering high-net-worth individuals through banking channels, and this trend will continue in the future. Continuing to accelerate, bringing new light to crypto adoption.

Panic 24, somewhat relieved.

Coin News:

Bitcoin: I don’t see a very obvious direction, but the downward force is relatively limited, and the overall market is still self-sufficient.

Ethereum: The transaction volume has dropped significantly recently, and the support at the current position is much worse than that of the pie.

OP: In September, the number of transactions on the chain exceeded 5 million, a record high. Although the long-term expectations are not ideal, it is still booming. Consider short-term participation near 0.8.

There are no new hot spots in the market, and there is no room for small coins to start. We continue to pay high attention to the market. After being compressed to the extreme, there will definitely be new opportunities for huge profits in the rebound.

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[Madman Says Trend]didn’t see a very obvious direction, but the downward force was relatively limited. It first appeared on the blocker.

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