The digital currency market hits the bottom again

The digital currency market hits the bottom again
Most investors believe that the beginning of this sharp drop was caused by a series of "cutting leeks" by Musk, the helmsman of Tesla. From Grayscale's increase in holdings of Bitcoin and a series of digital currencies to Tesla's announcement of accepting Bitcoin payments, and then Musk's call for Dogecoin on social media, the digital currency market has been rising all the way, but as Tesla stopped Bitcoin payments, Bitcoin has been falling all the way, and Musk has become the "public enemy of the cryptocurrency circle." Trump "governed the country with Twitter", and now Musk "speculated on cryptocurrencies with Twitter."
After Bitcoin fell below the strong support level of $38,000, the State Council Financial Committee cracked down on mining and trading, and Bitcoin plummeted by $3,000 in 10 minutes. As of today, the digital currency market continues to fall. The price of stable currency USDT has fallen recently, and some investors believe that this is a panic withdrawal caused by profit-taking or selling behavior. In addition, some investors, especially old participants in the digital currency industry, believe that the 519 plunge is a deleveraging behavior, and the panic caused by the policy can continue to deleverage, which is the beginning of the market gradually moving towards a virtuous cycle. Before the specific details are released, any gossip is market speculation.

When investing, your biggest enemy is yourself. When losing money, your biggest enemy is also yourself. In a bull market, it is the happiest to trade only once, buying and selling once, although it is difficult to do. Bitcoin has still created many wealth myths and brought many sad stories this time, but looking at the entire history of Bitcoin, the price in almost all bear markets is higher than the price in the previous bull market.
If you don’t have the ability to go all in, try to keep some cash and don’t play with contracts, because when the tide goes out, those who are left behind are just swimming naked.

<<:  After buying 4,145 bitcoins at the bottom, Justin Sun expressed his views on the current market

>>:  What are your predictions for the market’s future development?

Recommend

Written before the third halving: Ten thousand words to interpret the Bitcoin price mechanism driven by miners

This article is from blockwaresolutions, original...

Analysis of tear pits

The tear dimples are actually the well-known dimp...

How is the fortune of people with moles on their hands?

Everyone has different moles on their bodies, and...

Decentralized emergency response CELL411 receives angel investment

Decentralized emergency response application CELL...

A detailed discussion of the facial features of women with good fortune. What kind of facial features make women with good fortune?

A person's fate and whether he has good fortu...

Is $100,000 Bitcoin the end or the beginning? Where are we now? Where will we go in the future?

In recent months, Bitcoin has been fluctuating ar...

Zeng Guofan's physiognomy: Look at the eyes and nose for good or bad, and the lips for truth or falsehood

Image from Pixabay In Chinese history, there are ...

Analysis: 3 reasons why Ethereum price surges towards $600

Aside from the high anticipation for Ethereum 2.0...

What does the "川" palm pattern mean?

If we open our palms, we will find that the lines...

Where are the moles that can harm a man's wife? Men with moles in these places should not marry.

China has always been a country where men are sup...

Top hacker confesses: I used to earn millions of dollars a month by stealing Bitcoin

There are only a few hundred people in the world ...

How to diagnose asthma, heart disease and high blood pressure from facial features

Asthma patients usually occur in northern regions...

Bitcoin, blockchain and distributed ledger technology, which is the right direction of development?

What is blockchain? Where did Bitcoin come from? ...

When the love line splits into two, something unexpected will happen

How to read the love line diagram in palmistry? T...

What causes my left eyelid to twitch?

What causes my left eyelid to twitch? In fact, fr...