Digital currency trend maniac, opportunities are everywhere below 40,000

This week, US President Biden will sign an executive order on cryptocurrencies, which will outline the US government's cryptocurrency strategy. The crypto empire dominated by Wall Street will undergo the biggest change in history. The strategic support or opposition of the dominant country will bring different futures to the crypto market. Previously, the chairman of the US Senate Finance Committee said that he would stand on the side of innovators, so the government's decision-making does not need to be too pessimistic. This week, the EU Parliament's Monetary Committee will also vote on the crypto market rules legislation, so the volatility in the second half of this week will increase. After the European and American legislation in the future, the cryptocurrency circle will operate within the legal framework, and the compliant cryptocurrency circle will attract more institutional investors.

The war between Russia and Ukraine seems to have eased after a recent negotiation. A Kremlin spokesman said that if the Ukrainian government meets the conditions proposed by Russia, it can stop armed actions at any time. The conditions are that Ukraine cannot join any alliance and must recognize that Crimea belongs to Russia, and that the Luhansk Republic and the Donetsk Republic are independent countries. At present, the Ukrainian president has stated that the possibility of recognizing Crimea and the Donbas Republic can be discussed. This is a kind of surrender. Although there is no positive compromise, it is at least moving in a good direction. European stock markets have rebounded across the board.

The NYDIG report shows that Ukrainian citizens use Bitcoin for daily purchases during the conflict, and payment channels Venmo and Paypa will be banned. There is no specific report on the daily purchase volume, but it can be seen from the market that it is obviously not large. It may just be used as a foreign exchange reserve by citizens, not a large investment.

Morgan Stanley CEO said that the Fed is expected to raise interest rates four times in 2022, each time by 25 basis points, but the Fed will not raise interest rates by 50 basis points as previously expected. If he follows this line of thought, then the interest rate hike will be significantly lower than expected, and the words of these large American institutions are difficult to distinguish between true and false, fighting for the interests of Wall Street. The CEO also said that Bitcoin is a speculative asset and will not replace currency, which means that he is not optimistic about it. The more pessimistic he is, the more we should consider buying it.

California is about to propose a bill to make Bitcoin a legal tender, which may require a constitutional amendment before it is passed. This has just been proposed and it is too early to be truly completed, but we can already clearly see the trend.

New investments in cryptocurrency funds tripled last week to the highest level in three months. While people are panicking, institutions are continuing to buy and increase their holdings.

1 billion USDT were issued. It’s been a long time since we’ve seen incremental funds. This is a good thing.

Panic Greed 21, still extremely panic.

Coin News:

Bitcoin: The third largest Bitcoin wallet address bought 318 Bitcoins today. This whale has been buying since January, and only sold 1,500 Bitcoins at around 44,000 on March 1. Recently, it has gradually recovered and is also a short-term T-trading expert. The short-term market shows signs of strengthening, and it is expected to start a sustained rebound today and tomorrow. As energy commodities accelerate to the top, it is expected that funds will flow back to the US stock market.

ETH: Ethereum whales already hold 21.6% of the Ethereum supply. Although the price of the coin has fallen, the chips are still concentrated in the hands of large holders. The transaction volume on the chain has increased by 29.2% in the past 24 hours. This is a good sign and is expected to gradually start to strengthen.

ADA: Whale addresses increased by 41%. Addresses holding 1 million to 10 million tokens already hold about $9.72 billion of ADA, accounting for nearly 40% of the total supply. This is a good data, but the founder was found out to have falsified his resume today. A person with a doctorate degree was found to have not even graduated from college. The trend has not stabilized yet, so there is no rush to buy the bottom. We will observe for a while.

IMX: Received US$200 million in investment from Temasek, Tencent and others. This positive news is unlikely to change its downward trend, so it is not recommended to chase high prices.