Bitcoin: It’s going well, climbing out of the pit

The rate hike was implemented, which was in line with everyone's expectations. The market did not react much and continued to fluctuate on its own. At yesterday's Federal Reserve interest rate meeting, Powell hinted that there would be six more rate hikes of the same magnitude this year. In the dot plot, officials predicted that the median would be around 1.9% at the end of the year, and the swap in June was 1.08%. Therefore, it is very likely that one of the next two rate hikes will reach 50 basis points. The market pricing expectation is that the probability of a 50 basis point rate hike in May is 80%. It is too early to talk about the next interest rate decision. Let the market stabilize first. The impact of the rate hike will be relatively weak in the near future. By mid-April, the impact of this expectation on the market will be apparent again. Powell also mentioned that if it is appropriate to take more action, it will be taken quickly, and the plan for balance sheet reduction will be announced as early as May. May is just a plan, and it will take a long time to implement. Don't forget that $1.5 trillion was printed for the government yesterday. It is estimated that before the real balance sheet reduction comes, the government will print a few more large sums of money to make itself comfortable first.

It is also worth cheering that Russia and Ukraine have also begun drafting a draft to end the conflict. The two sides have made great progress in the peace agreement. After Ukraine's concession, Russia is expected to withdraw from Ukraine. The details will continue to be discussed tonight. Under the double positive factors, the stock market and the cryptocurrency circle have shown a certain recovery. The panic of funds is gone, and the market will gradually climb out of the pit. Spring is coming.

In addition, Ukraine has fully legalized the crypto industry, and banks have opened accounts for crypto companies. Another country has fully embraced crypto, and another star has lit up on the map.

The Hurun Rich List 2022 shows that Musk continues to be the richest man with L29 trillion yuan, Zhao Changpeng ranks 67th, and SBF ranks 77th, and they are the only two people in the top 100 in the cryptocurrency circle. As the sentiment in the cryptocurrency circle recedes, the market value of Bitcoin and the net worth of the bigwigs have declined, but this does not affect future expectations. At least in the visible time, the encryption industry is still a super promising industry, allowing us to continue to see the light and continue to see hope.

Kiyosaki, the author of Rich Dad Poor Dad, said that war will make cryptocurrencies safer than the legal currency market. This guy is bullish and bearish at times, and I don’t know what’s wrong with him. He also said before that the government will seize cryptocurrencies and launch its own tokens. In short, the war brings people more trust in the crypto world, which is an indisputable fact. As for who can completely control Bitcoin, at least it is impossible at present.

Coinbase launched Coinbase Pay to simplify the wallet recharge process. Coinbase users in the United States and Canada can directly recharge their Coinbase wallets with bank cards. In other words, if they want to play Defi or buy NFTs in the future, they can just transfer money with a bank card. This really lowers the threshold of encryption to the same level as Internet products, which will bring huge new traffic.

Lemon Cash will allow users to trade Bitcoin and Ethereum with Brazilian fiat currency. This is similar to the logic of Coinbase Pay, where fiat currency is directly used for buying and selling, which is very convenient. In the future, stablecoins will pose a huge competition to the fiat currencies of various countries. If the trading function of fiat currency is not solved quickly, fiat currency will become obsolete in the future, after all, stablecoins are universally used.

Spartan Group, a crypto venture capital firm, has launched a $100 million venture capital fund and will soon launch a $200 million Metaverse fund. Another small fund has entered the market, and these are all future incremental funds.

The Korean crypto fund has grown from $700,000 in the early days to $4 billion at present. In the future, it will focus on building its own products, such as blockchain games or WEB3.0. This fund is really powerful. Investments that can continuously outperform the market are what we should learn from.

Panic 27, turned into panic.

Coin News:

Bitcoin: It is going well, climbing out of the pit. If it breaks through 45,000 this time, it is likely to really rise. The founder of Luna is accumulating $10 billion of Bitcoin as UST foreign exchange reserves. With the continuous support of this 10 billion increment, the long and short forces will also show a clear tilt.

ETH: There is a bug in the testnet, and no blocks have been produced for several hours. However, this is normal. Otherwise, what is there to test? The negative news has no impact on the market price, but it may delay the launch of 2.0. Three Arrows Capital bought 40,500 ETH, worth $1.2 billion. The large-scale purchase is good for Ethereum and is also the reason for its continued strength in the past two days. It is expected to continue to be stronger than Bitcoin, so it is mainly held.

XRP: Launched a $800 million developer incentive plan to encourage developers to build projects on XRP. Ripple still has money, and it spent $800 million at once. There is still hope and development in the future, and it is expected to rise in tandem in the short term.

FTT: The top 1,000 Ethereum whales bought a lot of FTT. Three of the top four are stablecoins, and only FTT is volatile. With the development of FTX, this token is expected to grow steadily.

APE: OK and Shian will both list this coin tonight. It is issued by the parent company of Boring Cat. You can get airdrops by holding the BAYCNFT series. Therefore, the floor price of this series exceeds 100ETH again, and the transaction volume has soared by 440%. This project should be the hottest new coin in recent times. There are certain speculative opportunities. 5u or less is relatively safe, 10u or so is speculative, and 20u or more is extremely risky. Let's see how the final price will be after listing.

Defi: AAVE launched V3 cross-chain, 1INCH launched NFT, and various Defi protocols are continuing to develop. Recently, funds have obviously begun to intervene. When the price can no longer fall, the opportunities are greater than the risks.

Hold on to your coins and wait for the price to rise. All the negative news has been released, and the concerns about future funds will be much smaller. There should be a healthy and strong market.