The blockchain revolution broke through in one day, will you continue to move forward?
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Another epic crash for Bitcoin. Will you keep going?
Another epic crash for Bitcoin. After this round of ferocious small animal coins took off, the blockchain revolution has once again turned into a blockchain scam. For virtual currency speculators, there is nothing like breaking through your psychological support price again and again before 520 , It is even more cruel to break the defense of your weak mind, but for miners and coin hoarders, things are far from over. Let's see what's going on in the market.Bitcoin's Volatility Index Hit Yearly High Before May 17 CrashThe free lunch on the Defi platform has come to an endEthereum is both the starter and the finisher of the bull market, and it seems to be like this every time. Last night, due to the sharp drop in the price of Ethereum, a large number of liquidations occurred in DeFi protocols. AaveV2, Venus, Compound and other mainstream DeFi protocols experienced liquidation of 265 million US dollars within 24 hours. The cake drawn by Ethereum does not seem to be so good. What is the biggest negative for Defi? Undoubtedly, it is the end of the epidemic and the interest rate hike. If the defi players quietly retreat with liquidity, will the bull market belonging to Ethereum continue?The fund traders behind Defi are all the sixth in the encryption market. They have already started their vacation mode. They lie on the comfortable sofas of famous brands and drink champagne. Fang’s ecological economic model article package, a question mark in my heart: WTF, why don’t I know, is this the legendary financial revolution?The most precious quality of Bitcoin-decentralization, de-Maskization, de-Greyscale daddy, de-xxizationBitcoin is the strongest and most difficult currency in the world. What is the most difficult? As the number one, you need to bear the transcendence theory of various communities, all kinds of useless theory, as well as critical reports from the mainstream media, as well as policy suppression from all over the world. Bitcoin itself bears too much. But the disappearing Satoshi Nakamoto endowed it with unlimited potential.Bitcoin is always the same, whether it is skyrocketing or plummeting, we cannot deny the fact that, as a currency, it has existed for eleven years. No one can master Bitcoin, it is like the Lord of the Rings, anyone who wants to control it will be taken away by it.Bitcoin does not need Musk or Grayscale, and will always follow its own rhythm. Decentralization is the biggest charm that attracts all people with lofty ideals to join this real revolution. So in the Bitcoin world, any centralized power will become the enemy against Bitcoin.Even Grayscale and Musk couldn’t stop Bitcoin’s free fall. Before this round of slump, the GBTC fund invested by Grayscale had a negative premium for three consecutive months.Grayscale is obviously no longer available. The father of Dogecoin may still be busy tweeting to tell you not to panic, I haven't thrown it yet. But he will never understand the prehistoric power of Bitcoin.How will the market go after that?
I really don’t understand why many big Vs on Weibo are still asking you to deposit money in altcoins (Ethereum is also altcoins). When the market breaks its defenses again and again, what is the logic of telling you that the bull market can be expected? However, the first Weibo post by Zhai Wenjie, the former leader of Dragon Mine Technology and the hero of Litecoin, was actually like this:Without the help of leverage and institutions, Bitcoin will not hit $60,000, Ethereum will not hit $4,000, and Dogecoin will not skyrocket, but the market must pay for it. Due to the decentralized nature of Bitcoin, even institutions will be bloodbathed by Bitcoin.Worst case scenario: As the time for the disclosure of the second-quarter financial statements of US stocks approaches, Bitcoin may continue to fall until Musk breaks his guard and kneels, throwing away the $1.5 billion in Bitcoin in his hands. After all, you have to get rid of the biggest short in order to rise, right?Best case scenario: This is another reshuffle of deleveraging and value discovery, but we still need a long period of time to repair the market's wounded hearts due to panic, so that we can welcome the rebirth of the phoenix in the future.
But no matter what happens, all you have to do is keep running and keep enjoying the pain!Interestingly, in yesterday's sharp drop, Ethereum's GAS hit a new high again, resulting in an increase of 8 to 10 times in the output of unit computing power. Run away with the transfer to avoid being caused by a liquidation. It’s just that this time the highest running miner’s fee in history has shaken the belief in the Ethereum ecology.Bitcoin mining machines and Ethereum mining machines are the most loyal and hardworking employees in the world. They work for you 24 hours a day, 7*365 days, and you only need to feed them stable and cheap electricity to protect the chip This is one of the reasons why I like mining. But it is clear that the miners are about to go through a difficult time, and only those miners with efficient equipment can survive. The market does not seem to have bottomed out yet, and the miners will remain in this Shura field every time they cross the bull-bear cycle What soldiers, time will tell us the answer. Finally, I wish everyone a happy 520!
Risk warning: the above views are only personal opinions, not as investment advicewww.x-mining.cn
