"Well-known talk show actor Kevin Hart sold Boring Ape NFT and lost 75% 😱"

According to OpenSea transaction records, Kevin Hart, a well-known American talk show and Hollywood comedian who has appeared in the "Wild Game" series of movies, sold his name in January 2022 for 13.782 ETH (approximately US$50,000) in the past two days. Purchased number#9258Boring Ape NFT. Kevin Hart originally purchased it for 79.5 ETH (approximately $200,000) and now sells it for about $50,000, which means he lost 75% of the money on this transaction.

(The above news information is taken from Sangbi District Knowledge)

In the atmosphere of the bull market, the myth of getting rich overnight is always widely spread, attracting a large number of newbies to enter the market with such a dream, thinking that they can multiply their wealth several times as long as they bet on the right target, but we must not forget Unfortunately, it is common to see assets cut in half and then cut in half again, or losses so severe that they quit the currency circle, but the noise is overshadowed by stories of sudden wealth. Sharing the story of Kevin Hart today is to let everyone remember the cases of investment failure when the market is booming, and keep in mind the risks behind every transaction. The important thing about investing is not to make money quickly but to live long. After all, even if you make money 99 times when you buy coins, you can lose all your money with just one mistake.

During the NFT craze in 2022, many domestic and foreign celebrities have purchased and held various NFTs. We don’t know what proportion of people behind them are simply following the trend and entering the market without doing any research. The meme coin craze a while ago also triggered public FOMO emotions, but often only the stories of successful people will be remembered forever. The more times like this, the more we need to remain rational and DYOR, be an evergreen tree in the currency circle, and encourage each other. .

The Fed gave a dove, and Bitcoin surged overnight

The March FOMC meeting ended in the early morning of March 21, Taipei time, with the interest rate decision maintaining an interest rate range of 5.25% ~ 5.5%, in line with market expectations. However, Federal Reserve Chairman Jerome Powell released a dovish signal, causing U.S. stocks and assets such as Bitcoin to surge on the news. Bitcoin began to rise at 1 a.m. in Taipei, rising 8% overnight and fluctuating at 67,000 points at the time of writing.

🔥Federal Reserve meeting highlights:

1) Maintain the pace of three interest rate cuts throughout the year:
The interest rate dot plot released at this meeting shows that there will be three interest rate cuts in 2024, the number of interest rate cuts in 2025 will be reduced from four to three, and the median interest rate forecast will increase from 3.6% to 3.9%. Officials also expect three more rate cuts in 2026 and two more after that. Although the median expectation for 2025 has increased, the decision to maintain three interest rate cuts this year has stabilized the market's recent concerns about a rebound in inflation caused by hot economic data. It also shows that the Federal Reserve believes that the downward trend in inflation will continue.

2) Increase inflation and economic growth expectations
Compared with the Summary of Economic Projections (SEP) released in December last year, the Federal Reserve adjusted its U.S. GDP forecast for this year and next from 1.4% to 2.1%; the unemployment rate this year was slightly lowered from 4.1% to 4%; personal consumption expenditures (PCE) forecast remains unchanged at 2.4%, but core PCE is revised up from 2.4% to 2.6%. It shows that the U.S. economic performance is still strong.

3) The pace of bond reduction is expected to slow down:
Regarding the US$7.5 trillion balance sheet, although the Federal Reserve will continue to reduce its holdings of government bonds, agency debt and mortgage-backed securities as previously planned, Ball also said that it is appropriate to moderately slow down the pace of balance sheet reduction and adjust The pace of balance sheet reduction is not far off. Ball said that the basis for slowing down the balance sheet reduction is to avoid turbulence in the U.S. bond market and reduce pressure on the money market. The central bank does not want the problem of reserve shortages to recur. The slowdown in the balance sheet reduction means that the Fed will withdraw money from the market more slowly, which can be regarded as a disguised monetary easing policy.

Overall, the market generally interpreted this FOMC meeting as a more dovish stance, which also caused Bitcoin to rise sharply this morning. As U.S. stocks and cryptocurrency assets become more and more interconnected, major economic events such as the Federal Reserve’s interest rate decisions will also affect the price trend of the currency circle. We will also regularly update and interpret important events for you in the future. General manager information, follow Brother Nao to get the latest information!

Bitcoin continues to fall, and the decline may not stop yet

Bitcoin has fallen to 62,000 points after hitting a record high, with a cumulative decline of nearly 15% in the past week. The reason behind this is in addition to the recent higher-than-expected U.S. Producer Price Index (PPI), which has caused market concerns about the Fed's delay in cutting interest rates. In addition, the net outflow of Bitcoin ETFs is also a major impact. According to statistics from Farside Investors, Bitcoin spot ETFs experienced net outflows for two consecutive days, with US$154 million and US$326 million flowing out on March 18 and March 19 respectively. , showing that the recent market demand for Bitcoin spot ETFs is cooling down. Among them, Grayscale’s Bitcoin Spot ETF (GBTC) had a total net outflow of US$1.086 billion in the past two days.

Although coinglass's RSI indicator shows that Bitcoin's overbought sentiment has cooled down a lot, the daily RSI dropped to 48.6. However, Anders Helseth and Vetle Lunde of the cryptocurrency research organization K33 Research said in a recent report: The current large-scale "washout" (Washout) using derivatives to bet on bullishness may continue, so it will be liquidated by the longs, that is, The risk of continued expansion of downward fluctuations caused by the liquidation of long positions is still considerable.