In today's news, Hester Peirce, member of the US Securities and Exchange Commission (SEC), said in an interview that he is optimistic about the encryption regulations in 2021. 2021 will be a time for us to reset, she said. The U.S. government needs to provide greater clarity and guidance on encryption regulations, and there needs to be better cross-agency coordination. Enforcement action can indeed provide clarity, but it is not the right approach. The government should give people clear guidelines up front so they can figure out how they can do it legally.
Over the years, cryptocurrency investors have been working on the application of Bitcoin ETF. Unlike in the past, the SEC’s statement today is very ambiguous. If the Bitcoin ETF can really successfully apply, the market will definitely usher in an unprecedented explosion.
According to Coinbase’s 2020 Year in Review report, institutional demand for Ethereum is growing as corporate investment in Bitcoin continues to grow. While the exchange's customers primarily bought bitcoin last year, a growing number of them are also holding ethereum, the researchers said. Most of Coinbase’s institutional clients view Ethereum as a “decentralized computing network” that shares some key attributes of Bitcoin, and many believe that growing interest in DeFi is the main reason for Ethereum’s price surge. Coinbase customers believe that ethereum could become the main settlement network underpinning this new financial system.
Market Index Analysis Today
Market Index Analysis Today
Mainstream currency market
Mainstream currency market
BTC
Risk Factor: High
Risk Factor: High
After the article was published yesterday, Bitcoin broke through the pressure position of 33,600 US dollars in one fell swoop, and continued to attack 34,600 US dollars. Unfortunately, Bitcoin did not break through 34,600 US dollars this round. After the market opened today, Bitcoin fell all the way from $34,600 to $31,500. At present, the price has rebounded from the oversold price of 31,500 US dollars to around 32,173 US dollars.
In terms of operational suggestions, although Bitcoin did not stabilize briefly at 31,500, in the subsequent rebound process, Bitcoin was under heavy pressure, which were 33,000 US dollars, 33,800 US dollars and 34,600 US dollars. At the daily level, the rebound at the lower end of Bitcoin’s Bollinger Bands has also gradually weakened in the past few days. Next, Bitcoin may be on the weak side, and the market still has the risk of a flash crash.
Upper pressure level: $33,000
First stop loss: $31,000 Second stop loss: $30,500
ETH
Risk Factor: Moderate
Risk Factor: Moderate
The trend in recent days shows that when the market is generally rising, the rebound of ETH is generally higher than that of the overall market. When the market falls in tandem, ETH is also keeping pace. ETH still lacks the courage to go out of the independent market. Under the weak BTC market, ETH may not be able to perform tomorrow.
Upper pressure level: $1385
Layer2 track
Layer2 track
LRC
Current Price: $0.408 Risk Factor: Moderate
Although LRC is still in the upper channel of the Bollinger Bands, the Bollinger Port has narrowed significantly. Next, LRC may start a shock mode, and long-term investors can make a proper layout at $0.39.
Upper pressure level: $0.44 First stop loss level: $0.39
OMG
Current Price: $3.45 Risk Factor: Medium
In the short-term trend, $3.3 will serve as an important support, which is related to whether the upward channel of this round of OMG can continue.
Polkadot series
Polkadot series
DOT
Current Price: $17 Risk Factor: High
The trend of DOT today is quite weak, and there is no obvious rebound in the process of falling. Although it is currently stable at around 17 dollars, but at the daily level, DOT has gone out of a relatively weak three consecutive negative market. If tomorrow's trend cannot be effectively repaired, The next price of DOT may have the risk of further dropping.
Upper pressure level: $17.7 First stop loss level: $16
KSM
Current price: $97.3.
Like the big brother DOT, KSM has shown a situation of wide opening and closing recently. Whether it rebounds or falls, the fluctuations are relatively violent, indicating that the main force controls the market more seriously. The biggest feature of this round of currency is that the risks and returns are extremely high. It's scary, and it's more violent when it falls. KSM small funds are enough to participate, and large funds are not recommended to deploy such currencies.
Upper resistance level: $105
First stop loss: $90
