The total market value of global cryptocurrencies has surpassed the circulation of US dollars. The economies of the fiat currency system backed by national credit are weakening, while the economies of the digital currency system based on blockchain finance are rising. The trend is directional. From the traditional From finance to blockchain finance, people and money are migrating.
Some investors will think, if the entire market is hitting new highs every day, whose money are we making? The answer is that what we earn is the money of people who haven’t bought coins yet but will buy them sooner or later.
Today's point of view
Long-term rating: Overweight
Short Cycle Rating:
Bitcoin accumulation
Lighten up in small-cap cryptocurrencies
Today's point of view
Last week's U.S. non-farm payrolls fell sharply short of expectations, leading to a sharp reduction in concerns about inflation and tightening monetary policy, which in turn pushed risky assets higher.
In March, we gave the view of the gold market that gold would bottom out around 1670, and then gold formed a W-bottom pattern at the daily line level, and then broke through the downward red channel resistance, and a breakthrough has been achieved so far.
This week, the United States will announce the inflation rate for April. If inflation also cools down, it is expected that it will be more favorable for the price of the capital market to rise.
Bitcoin's ascending triangle pattern made a short-term false breakout over the weekend, finally returned to the chart, and tried to break out again this morning. We can see that the maturity of this technical graph is quite high, and it is now nearing completion, and we must choose a direction. The accuracy of direction selection at this stage is relatively high, and we believe that Bitcoin will form an effective upward breakthrough.
Bitcoin’s market capitalization is supported at the 45% level. Although Ethereum has risen strongly to the $4,000 mark, Bitcoin still holds the current mark. Investors need to pay attention to whether Bitcoin’s next breakthrough can increase the market capitalization of Bitcoin. For example, once the proportion of the market value is reversed, investors should adjust their profit margins of counterfeit cryptocurrencies as soon as possible.
