Market panic index 30, heading for extreme panic

The U.S. Congressional Policy Department released a policy document titled "Cryptocurrency Entering the Mainstream", which mainly explores the dark side and advantages of cryptocurrency. Among the advantages, it mentions the potential for reducing transaction costs, improving efficiency and increasing privacy, and among the risks, it mentions ransomware attacks, fraud, speculation and drug trafficking. These risks were basically understood by everyone in the past, but the advantages reflect the United States' desire for better regulation and willingness to embrace encryption, which is a side recognition of cryptocurrency entering the mainstream market, laying the foundation for the continued participation of subsequent institutions.

According to a research report by Bank of America, the Fed's tightening of monetary policy to curb inflation will cause the economic situation to deteriorate rapidly, and even cause the US economy to enter a recession. In this context, cash and Bitcoin and cryptocurrencies with good liquidity will benefit and are likely to perform better than bonds and stocks. Bitcoin's liquidity is really better than the stock market now. First, there is no limit on trading time, and entry and exit are real-time. Second, the trading depth is very deep, which can carry a large amount of funds to undertake and sell pressure. In order to ensure sufficient liquidity, people will choose cash and encrypted assets as much as possible.

In March, Russia's inflation rose to its highest point since January 1999. The United States can curb inflation by raising interest rates, but Russia has very few tools at its disposal, so continued inflation is inevitable. Externally, it is being sanctioned, and internally, its currency is depreciating + inflating. For the rich, they can neither hold US dollars and euros, nor hold rubles and watch them depreciate. In the future, the crypto market will become the preferred market for Russia's wealthy.

An island on the northern coast of Honduras officially recognizes Bitcoin as legal tender. This island is a special economic zone, which is intended to be a test for Honduras. Once successful, it is only a matter of time before Bitcoin becomes the legal tender of Honduras. Mexico and the Portuguese autonomous region MadeiraoPlanB, who have the greatest chance of using Bitcoin as legal tender, pointed out that the current realized market value of Bitcoin is close to its historical high, and Bitcoin may set a new high. The realized market value close to the historical high means that people have fully changed hands at high levels and have the basis for starting to pull the market. After each round of rise, the bottom needs to be consolidated and gradually raised. This is the current stage, and we must wait patiently for the main rising wave.

Singapore has updated its advertising service rules. Crypto services are only available to professional investors, and cannot be advertised to retail investors. Singapore's attitude towards crypto has always been relatively neutral. It is neither very positive nor prohibitive. The overall direction is to protect investors from crypto risks.

Panic 30, straight to extreme panic.

Coin News:

Bitcoin: I deposited 9,800 bitcoins to Coinbase yesterday, which should be the main culprit for today's market crash. The current contract longs are still high, and the strong support of 43,000 has failed to provide effective support. There is a possibility of challenging 40,000 again in the future. The supply will be smaller on weekends, and it is expected to continue to fluctuate. Let's see how it goes in the next two days and decide on a new direction on Monday.

Ethereum: Mark Cuban is very optimistic about the 2.0 upgrade. After the POW is converted to POS, the Ethereum system has indeed been greatly improved. On the one hand, the speed and cost of the public chain itself have increased, and on the other hand, the income from staking ETH will increase significantly. Therefore, Mark Cuban is more optimistic about the rise of Ethereum in the second half of the year.

UNI: Trading volume in March fell 5% from February, with a total trading volume of US$51 billion. The overall data is still okay. At the same time, a law firm in the United States sued UNI for violating securities laws and releasing and selling unregistered securities in the form of digital tokens, namely UNI tokens.

It will have an impact on the entire project. The current position is still very cheap in the long run. If you are a long-term investor, it is recommended to participate on dips.

ADA: Launched the Ethiopian student blockchain project. Working offline in Africa is ADA’s strength. In the future, there will be opportunities to bring in another wave of incremental funds. This project involves 800,000 African teachers and students.

CELO: Provide technical services for legal digital currency, so that legal digital currency can use CELO blockchain and access Def products. It is useless to support this matter. It mainly depends on which country will do it on its chain. It is currently in the stage of false and empty. The previous rise in the secondary market was caused by speculative funds and it is difficult to be sustainable.

GMT: The number of daily active users has exceeded 200,000, and the price has gone beyond the circle. It is expected that the price will reach a platform near 2 US dollars. It will have to hold up for 1-2 months before there will be a new opportunity to pull up the price.

The market's money-making effect is not strong, and it takes time to digest this chaotic world.