Market Analysis 5.19

Good morning, brothers. Today is the anniversary of May 19.

Some people say that we should run away when May 19 comes. Does this make sense?

There are two main reasons for the sharp drop in the price of Bitcoin on May 19, 2021.

(1) Bitcoin has risen from $3,900 on March 12, 2020 to a peak of $64,000.

There are too many profit-taking orders in the middle of the more than ten-fold increase.

If the price rises too much, it will fall. This is a natural phenomenon.

(2) On May 18, 2021, relevant Chinese institutions began to ban cryptocurrencies again.

The three major associations, including the Internet Finance Association, the China Banking Association, and the China Payment and Clearing Association, issued announcements,

requiring member institutions not to engage in virtual currency transactions and other related financial businesses,

and reminding them to guard against the risks of virtual currency transactions.

This year, BTC just ended its washout at around 60,000.

It has only risen by 10% so far. In addition, China has no control over BTC.

Why did it fall?

So there is no basis for saying that there will be a big drop on May 19th. You still need to use your brain when investing. BTC will at most drop a few points and fluctuate. It has nothing to do with May 19th. From the data on the chain, (1) Stablecoins have not flowed out of the exchange in large quantities, but have been flowing in in the past few days. (2) BTC has flowed out of the exchange in large quantities, but has not flowed in in the past few days. These are all positive news. As I have emphasized to everyone in the past few days, if there is no black swan event, BTC will still break through the $70,000 mark and is expected to challenge the previous high. Therefore, buy value coins and hold them patiently. Brothers who are short should buy Chr, Ar, Ssv, Sol. The recommended position is 80%. #BTC走势分析 #HotTrends $CHR $AR