Bitcoin's market value has fallen to 10th place in the world's assets

Although the decline of Bitcoin is not too big, many small coins have lost too much blood. The market is almost bleak, and there is no cheap money effect. Fees are withdrawn quickly. It is expected that this trend will continue. In the short term, Bitcoin will still outperform most small coins. If you are a coin-based person, it is recommended that you hold Bitcoin as the main currency. After Andre Cronje (AC), the founder of YFI, FTM and other projects, announced his withdrawal from the cryptocurrency circle, AC concept-related tokens plummeted like a flood, and panic filled the entire market. Among them, the tokens that are more worthy of attention are: FTM, YFI, KP3R, ANY, BOO, CREAM, SOLID. Subsequently, these projects also explained frantically on social media and in the community, saying that AC has handed over all codes and will continue to maintain various projects.

After AC left his project, these projects were soulless. Therefore, it is recommended not to take the knife for this kind of guillotine-like decline. The inertial decline still exists, just like a Michelin restaurant. If its chef leaves, it will be difficult to maintain the environment and service no matter how good it is. Wang Dong, the founder of the well-known domestic project Loopring, also said this morning that he is no longer involved in daily work and the project will be handed over to the new CE. Responsible. In addition, there are countless projects that are announced to run away and close every day. All these signs represent that it is difficult to make money by launching projects in the currency circle, and the energy consumed may not be proportional to the income. In short, according to the original historical experience, all the projects handed over by the core developers or the founding team have almost all performed unsatisfactorily in the next few years. So in this matter, everyone should just do the high-probability event. The boss is gone, what are we still struggling for?

Under the strong pressure of American politics, Coinbase finally surrendered and announced that it had blocked 25,000 addresses related to Russian individuals or entities that they believed were engaged in illegal activities, and began to impose sanctions on sanctioned countries. This time, the Russian-Ukrainian war allowed us to see the true face of Westerners. It is said that some domestic tycoons have begun to transfer overseas assets back to China, because it is inevitable for our country to recover Taiwan. At that time, whether Europe and the United States will impose sanctions again and confiscate all the overseas assets of Chinese people, no one can say. In short, when the whole world sees that centralized assets are not safe enough, I believe that this is the real starting point of Bitcoin. I have to say that our cognition may be a little ahead of time, but this does not affect the rise of Bitcoin, it is just a matter of time.

In addition, after this sanction incident, the number of investors and coin depositors in exchanges has continued to decline. Everyone has seen that the essence of true security is to store tokens in their own decentralized wallets, so this will benefit those wallet tokens to a certain extent.

Bitcoin's market value has fallen to the 10th place in global assets. Bitcoin, which once ranked third (with gold and Apple ahead of it), has now once again become an asset that even Tesla's market value cannot match. If this is not an opportunity, what other opportunities are there in this world?

Data shows that investors who bought Bitcoin at its high point in November 2021 have basically surrendered, and these supplies were absorbed by other investors with greater faith at 29,000-40,000. This is a good turnover behavior and the basis for Bitcoin's steady rise.

Panic 23, extreme panic.

Coin News:

Bitcoin: An address that has been dormant for 9 years was activated for the first time, and the wallet has 407 bitcoins. Fortunately, it is not too much and the impact is not great. The probability of a continued plunge in U.S. stocks is not high in the evening, so there is a certain room for rebound. 40,000 has become a strong pressure point in the near future.

Ethereum: The fourth largest whale transferred 11,000 ETH to the exchange. Recently, there have been a lot of on-chain activities of whales selling ETH. We haven’t figured out the logic yet, but judging from the market performance, it should continue to be linked to Bitcoin and be weaker than Bitcoin.

FTM: CEO said AC handed over all the codes to the team, and the developers will continue to work hard on the project. The foundation said AC is not a core developer, and there are still more than 40 people working in the team. Despite this, the FTM ecosystem has been accelerated by the withdrawal of investors, the GAS fee has risen sharply, and the entire ecosystem has plummeted. However, the whale addresses in the top 1,000 Ethereum still increased their positions in FTM and YFI during the plunge, indicating that there are still opportunities for future increases. But the madman still recommends not to fantasize and make high-probability transactions.