Bitcoin is showing signs of exhaustion, has the market endedOriginal Huang Weihong Xingyu x2023-04-2600:03 Published in GuangxiIncluded in the collection#Financial category, including digital currency π coins691Please click on the author's name above to follow to avoid missing important informationBitcoin is showing signs of exhaustionIn recent times, after Bitcoin broke through 30000 yuan, the argument of "a bull market has arrived" has been heard endlessly. Many friends have put together funds to invest and re enter the market, but the trend of coin prices has not been satisfactory

Bitcoin is showing signs of exhaustion, has the market ended

Original Huang Weihong Xingyu x2023-04-2600:03 Published in Guangxi

Included in the collection#Financial category, including digital currency π coins691

Please click on the author's name above to follow to avoid missing important information

Bitcoin is showing signs of exhaustion

In recent times, after Bitcoin broke through 30000 yuan, the argument of "a bull market has arrived" has been heard endlessly. Many friends have put together funds to invest and re enter the market, but the trend of coin prices has not been satisfactory. After a flash in the pan of 34000 yuan, it not only failed to continue to rise, but also fell back to around 30000 yuan for consolidation.

If this is to solidify the foundation, the inflow of funds should be greater than the outflow of funds, and the currency price will also stand firm above 30000 yuan. Then, driven by buying, the center of gravity will shift upward, and finally, a new round of offensive will be launched under the driving force of technical followers.

So, there is indeed a possibility of a bull market coming.

But things went against expectations. After consolidating around 30000 yuan, Bitcoin not only did not strengthen, but also continued to weaken, falling below 30000 yuan and showing an expanding trend. Currently, it has exceeded 28000 yuan.

This indicates that funds above $30000 are flowing out.

Who is selling Bitcoin?

After hearing the blood of the bull market, retail investors generally tend to buy more than sell. Long positions are profitable and cannot be forced to close their positions. Therefore, those who ship can only be the main force.

I have always insisted that this wave of market is a self rescue market, a shipping market, because due to the panic caused by the platform explosion, centralized exchanges such as Coin An have been in a fund run for some time.

It is impossible to say that Coin An has no money. In the previous wave, Coin An manipulated the market and made enough money. Zhao Changpeng even became the world's richest man in one fell swoop. Although the coin market later declined and Coin An's wealth shrank, the skinny camel was bigger than the horse, and Coin An still had a large amount of chips in his hands.

Yes, it's chips, not cash.

Although as market manipulators, centralized exchanges such as Coin An have certainly put in a large amount of chips at the forefront and have sufficient liquidity, they did not expect a run to be so severe. No matter how much cash Coin An has, it cannot withstand a run, and funds are in short supply. Coin An's chips, whether they are Bitcoin, Ethereum, or other digital currencies, have suffered a severe price decline. Selling them means losing money, in order to save themselves, Centralized exchanges such as Coin An took advantage of their channel advantages and manipulated the market again while regulatory measures had not yet been implemented, forcing the market to rise.

Of course, it is also in line with the news, especially the thunderstorm in the US banking industry and the people's risk aversion needs, which has given Bitcoin a strong shot. However, the nature of the self rescue market and shipping market has not changed, and as I said, the price of over 30000 yuan is more than what I said, luring behavior. Therefore, in the context of the consensus of retail investors, the main force did not hesitate to take action.

Don't the main force want to make more money?

No, the main force is not individual investors, and they will be overwhelmed by the market. They will not forget their original intention, and the purpose of pulling together is to ship. If the goal is achieved now, they will naturally leave decisively.

Goodbye to you.

In this wave of market trends, the main players have successfully achieved their goals, whether it is trading chips for funds or lowering costs. The news of market trends has also successfully eliminated the run on major exchanges, making them fully prepared to cope with the crisis. With funds available, costs have decreased. Next, they have more initiative, and can advance, attack, retreat, and defend. If they fall too much, they can go in and make a rebound. If the rebound is high, they can ship. If the situation is good, go for a bull market, if the situation is not good, go for a slippery slope and reap the harvest repeatedly.

As a retail investor, it was a disaster. Those who were short sold out in the early stage and were harvested. Going long is also a roller coaster ride, and the ultimate result is to switch to a batch of leeks.

Retail investors are always leeks, and those who make profits are always sellers. Therefore, I have repeatedly opposed that ordinary retail investors who are unable to participate in digital currency contract trading recklessly, chasing gains and killing losses.

At most, when the price of digital currency is low, buy some physical goods and leave there. When it's high, firmly do not touch the contract.

Those who have lost everything are all contract participants, and they will slap each other up and down. I have always warned everyone with great care, but there are still people who do not touch the south wall and do not turn back.

The current situation, which is relatively bearish, is the regulation of cryptocurrencies in Europe and the United States. Although it is still positive in the long run, short-term pain is inevitable, especially in the case of the United States suing currency security and Huobi, who have expressed their intention to withdraw from the United States. So, cryptocurrencies are at a low ebb in the United States. Chamath Palihapitiya, a well-known venture capitalist in Silicon Valley, stated in his latest podcast that the Chairman of the Securities and Exchange Commission (SEC) even linked the collapse of Silicon Valley banks to the cryptocurrency industry. US authorities have firmly targeted cryptocurrencies, which are already dead in the United States.

But what is relatively positive is the recent opening up of Hong Kong, China, which is the opposite of the situation in previous years. While countries such as Europe and America have strengthened their regulation of cryptocurrencies, Hong Kong, China has opened up.

The level and intensity of Hong Kong's opening up, especially whether Chinese people can directly participate in digital currency trading, will determine whether Bitcoin continues to bear or starts a new round of upward trend.

The June 1st for retail investors to participate in Bitcoin trading in Hong Kong is approaching, and we have reason to look forward to this day.

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