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Although the specific regulatory details have not yet been released, we can see that some official media or more mainstream media are already creating an atmosphere of regulation.
The Securities Times published an article titled "Banks vigorously block virtual currency transactions, but large-scale accurate identification is still difficult", which mainly uses manual and system automatic identification to strictly control the transfer of foreign currency trading accounts and establish an anti-money laundering system among major banks. From the content of controlling transactions mentioned by the National Financial Committee a few days ago, the main purpose is also to control the channels for money laundering.
At the same time, the Economic Information Daily also published an article titled "It is urgent to rectify the chaos of virtual currency speculation", which mainly emphasized the content of the previous few days, which played the role of creating an atmosphere or expressing attitudes. Such articles are not uncommon during this period, and the purpose they want to achieve is also very clear. We also fully support the opinions of the National Financial Committee on Bitcoin. Compared with continuing the chaos in the circle, official intervention or supervision is a great benefit to both the cryptocurrency market and the blockchain industry in the long run.
Secondly, for the market itself, from last Friday to today, the market is basically in a chaotic state. Both overreaction and "sudden shock" have occurred. This shows that in the past few days, the market sentiment is also in a state of disorder and venting. So if, for example, the specific overall situation comes out or is gradually implemented, the market is still not very stable, but it will not be like the past few days. After all, the market has faced the situation so far in the past few days with the worst plan. If in the process of announcing policies or implementing them, the market may still experience a situation like "the situation is far from as fast as imagined", the market reaction will be relatively limited. Therefore, there is no need to be too pessimistic overall.
On the other hand, according to Glassnode data, Morgan Creek's Anthony Pompliano recently concluded that Bitcoin whales ( entities holding 10,000 to 100,000 BTC) bought 122,588 BTC at the peak of the market crash last Wednesday, and most of the traffic on cryptocurrency exchanges comes from the United States. At least one well-known whale who sold Bitcoin at $58,000 not only re-accumulated Bitcoin, but also increased their Bitcoin holdings. This unknown entity sold 3,000 BTC on May 9 and then bought back 3,521 BTC in three separate transactions on May 15, 18, and 19.
This is a microcosm of the recent market. Although most people are in panic over the market crash and many people have sold their bitcoins, the fact is that the current process is one of retail investors selling and whales buying, domestic users selling and foreign users buying. Of course, you don’t have to think that we are selling our chips passively. This big move is not actually a simple chip conversion. There is a deeper meaning behind it, perhaps involving the carrier of the Federal Reserve’s quantitative easing, and we have only taken countermeasures. We will discuss this in detail with you later.
Back to the market, today's market rebound is still quite powerful. To be precise, the market has been rebounding continuously since 12:00 last night, and it has now returned to above $36,000. Everyone should have a deep feeling in the past two days. The market has not been so-called one-sided. Emotions will be amplified in the process of rising or falling, but when the emotions in that direction have not been fully released, the market will suddenly turn again. This is the so-called uncertainty and instability. Coin World-Actively embrace supervision, the market has not yet broken away from the downward channel. Yesterday's rebound was indeed more morale-boosting, but it has not yet broken away from the recent downward channel. When this downward channel is not so obvious, perhaps it is time for everyone to breathe a sigh of relief. In the short term, the market is not so certain to run above $30,000, so it is better to be patient. After the plunge, there is not only the option of buying the bottom immediately, but also waiting. Other currencies: In the past two days, other currencies have fallen in their own ways. In addition to those driven by the overall market, ETH has fallen more sharply due to the downturn in the DeFi sector. HT and OKB, which are promoted by the platform, have fallen particularly badly due to uncertainties in trading. Most of the others are also about the same. However, some currencies may never rise again after this fall, so don't blindly buy at the bottom.
I am still very confident about DeFi, because DeFi is a very important part of the exploration of blockchain technology. It will not disappear and will even become stronger in the future. It may still take some time, but I remind everyone not to ignore this sector. (Blockchain Gold Digger) |
