Two blockbuster news came before going to bed, one positive and one negative, friends who hold Bitcoin, please pay attention!
The PMI and the number of people receiving unemployment benefits that week released last night were both negative for the cryptocurrency market, causing Bitcoin to pull back from 71,000 to a minimum of around 66,000 US dollars.
Just tonight, two key data were released, one negative and one positive:
1) The final value of the University of Michigan Consumer Confidence Index in May was released, with an expected value of 67.5 and a published result of 69.1. U.S. consumption is still strong, and inflation seems to be on the rise, which is negative for the cryptocurrency market.
2) In addition, the U.S. one-year inflation rate forecast for May was also released, with an expected value of 3.4% and a published value of 3.3%, which is relatively positive.
One negative and one positive offset each other, so you will see that there is almost no change in the market tonight, but the current style is that there is no positive or a small negative, and the probability of Bitcoin's pullback will increase every weekend. At this time, what you need to do is to control your position. Before the market has a clear direction to choose, don't blindly increase or sell, just HODL!
Follow me, I will interpret any sudden situation in the cryptocurrency circle as soon as possible. I have been in the cryptocurrency circle for 7 years, in the financial industry for 10 years, and working in the top securities firms in China. I may not be the most professional, but I must be the most serious and sincere in sharing.
