What other coins can be included in the currency circle now?
Bitcoin after breaking through $70,000. There is some sideways trading in the $71,000 to $73,000 range, and the price will still face some resistance and may still need to be tested multiple times. It will eventually break through $73,000, although the price of Bitcoin has returned to normal levels. However, the altcoin market seems to be still in a weak position, such as the layer 2 series of concept coins, including optimization. We see that the OP faces resistance from the MA 200 moving average, which is the short-term bull-bear dividing line based on the 4-hour trend. OP’s price is trying to get out of the trough, which also includes ARB’s poor performance after the huge amount of coins to be unlocked, which is also normal. Not only the 4-hour trend, but even the daily line is oversold. This happened on March 19. In fact, I pay relatively little attention to the price of altcoins. Now it may be said in hindsight, but whenever the RSI is oversold and the price is close to the MA 200 moving average, I think it is always a good buying opportunity. Albert met this condition before, but now this opportunity has been Not the best. I also took a look at Matic, which is also stuck below the MA 200 moving average. It still can’t get out of the woods in the short term. However, I don’t have much interest in altcoins. I have some positions in these layer 2, but as I said before , I have a heavy position in Bitcoin, and the funds allocated to altcoins are very small. No matter from the performance of Bitcoin this year, or from the rebound of each wave, the market is still dominated by Bitcoin, and the altcoins are fanatical. Coin season is probably still to come. If you want to know more about the currency circle and first-hand cutting-edge information, we have the most professional community that releases market analysis and high-quality potential currency recommendations every day. Yesterday there was news that Cook Exchange was sued by the US Department of Justice. The charges involved the two founders of the exchange, who were accused of operating without a license and failing to maintain an adequate anti-money laundering AML program. And KYC and anti-money laundering plans will not be implemented until 2023, and these plans do not cover existing customers. According to Cryptocod’s database Coin is undergoing a massive stablecoin withdrawal, which may be from customers in the United States who are worried that the US government or brokers will block and freeze their exchange accounts. In the past 3 hours, the exchange’s Stablecoin reserves have been reduced by more than 100 million US dollars, but this incident also involved some other news. For example, the CFTC in the United States announced that Ethereum and Litecoin are commodities and not securities. However, this is only the statement of the CFTC and not the SEC. . We know that the CFTC is relatively mild and not as annoying as the SEC in the United States. However, I think the SEC has the greatest influence on cryptocurrency. After all, it is the Securities and Exchange Commission of the United States. When it comes to the SEC in the United States, they are now eyeing it again. Ripple. According to their March 25 filing in the U.S. District Court for the Southern District of New York, SEC lawyers recommended that Ripple pay a fine of approximately $2 billion. According to the regulator, the reason for these fines and penalties is that Ripple flouted the law and continued to sell XRP despite receiving legal warnings, which is one of the ongoing cases. Let’s take a look at the data on spot ETFs. According to the current published data, Fidelity’s inflow is still very large. Yesterday, their ETF inflow exceeded Blackrock. This trend may continue today. Grayscale GBTC outflowed more than 3,000 yesterday. Bitcoin, and based on the existing data, our net inflow yesterday was already very impressive, and it was more than 10 times the net inflow on Monday. This is a key factor in supporting the price of Bitcoin, especially maintaining such a net inflow of funds. With inflows, Bitcoin is more likely to hit a new all-time high. Even if there are some short-term negative effects, ETFs will make Bitcoin more resilient. Judging from Bitcoin’s performance in the past year, its decline has not been as deep. That's an exaggeration, and we didn't even see a 30% drop. This is somewhat similar to the 2017 cycle. Next, there is news. Is the stablecoin giant Tether deploying artificial intelligence? Will Hong Kong launch a physical spot Bitcoin ETF? KuCoin was sued by the U.S. Department of Justice. It is the issuing company of the USDT stable currency and announced that it will expand its strategic focus to the field of AI. Although some people criticize that AI currencies are just bubbles and appear to be somewhat unrealistic, I feel that even if there is a bubble, this bubble will last for a long time. , it is still a key track in the bull market. Even though Bitcoin has set a new all-time high, in comparison, the market value of altcoins has not yet reached its highest point in history. If you want to rise side by side with Bitcoin, altcoins still have There is a lot of room for upside, and the real altcoin bull market will also begin after the altcoin all-time high is broken. But at present, it seems that we have not reached this stage. Due to the relationship between spot ETFs, Bitcoin still dominates. However, the performance of some altcoins is indeed outstanding, and some have exceeded or are close to record highs. This includes Solana, which is 50% off. The all-time high of $258 seems not far away. However, there are relatively few altcoins that have performed well, and most of them are still far away from their historical highs. So I think artificial intelligence AI will be sustainable, at least this trend will not cool down before the end of the bull market. Now Tether is planning AI development, which is a development that needs to be paid attention to in the future. In May last year, Tether announced that 15% of their net profits would be used to purchase Bitcoin. As a known Bitcoin whale, Tether has increased its influence in the cryptocurrency market in this way. Tether has huge profits and Funding, now that they have expanded their strategic focus to AI, I believe there will be more good developments in the future.
Finally, everyone uses your little hands to like and follow. I hope everyone can get rich as soon as possible.
