Today is the first day after the National Day, the cryptocurrency market, which has been sluggish throughout the holidays, suddenly ushered in a full-line rise, giving people who started work a good job.
According to QKL123 data, on October 8, the top ten cryptocurrencies in the market capitalization were considerably higher than the lowest prices during the National Day , with a median increase of 10.8% . Among them, XLM rose the most, at 20.8%. The BTC has the smallest increase of 7.2%.
- Libra project frustrated, Facebook launched a new payment platform Facebook Pay
- The market is stuck, the market still needs time to sort out
- Viewpoint | Rather than technological breakthroughs, asset chaining requires more institutional building
- In the past two or three years, the helm of Internet technology companies has looked at blockchains like this.
- For the first time in five years, it took 2 hours for the Bitcoin network to dig a block for the first time.
- Bitcoin: an experiment in the form of a new currency
Market transactions were once again active. According to Babbitt, the 2,129 cryptocurrencies included in QKL123 recorded a turnover of 449 billion yuan in the past 24 hours, a rise of 26.11% . At the same time, according to the coinmarketcap data, the overall market value of the cryptocurrency market reached 221.8 billion US dollars, up 4.2% from the lowest market value during the National Day.
For the coin party or short-term bully speculators, this is a long-lost rise. After all, the “9.25 tragedy” of the currency circle that occurred in the week before the National Day was unforgettable.
It is understood that on the night of September 25, bitcoin prices suddenly fell from $9,700 to $7,700, a drop of about 20%. The mainstream currency then stepped on, generally falling by 30%-50%. The contract market is even more bloody. According to Coin statistics, in the 24 hours before 9:00 am on September 25, only the amount of the open position on the OKEx platform reached 6.65 billion yuan. Some media speculate that the global contract market is estimated to have tens of billions of dollars in the period of the tragedy.
After this battle, the shorts that have been suppressed since the beginning of the year to the end of June have finally seen the day again. Afterwards, after the BTC price exceeded 10,000 US dollars, the "pseudo-long" that was ignited by the fomo emotions suffered heavy losses. After the tragedy lasted until more than 10 days after the end of the National Day, the entire market was caught in a tug-of-war, facing a dead market, and even some analysts felt that the market was uninteresting and did not intend to provide analytical views.
This rise has undoubtedly boosted the confidence of the bulls. However, after the National Day red envelope is distributed, will the market go to the cattle road?
People from all walks of life have different opinions.
Nan Gongyuan, the representative of the "Old Chives" side team, first poured a cold water.
Nangongyuan believes that from now on , from October 2019 to October 2020, it may be the most difficult year for the currency . Although miners, miners and exchanges will continue to do things, it is difficult for the market to make money. The money-makers who make less money will only be more desperate.
Jiang Zhuoer, the representative of the miners' team, is a fan of the bull market and is very optimistic about the market outlook.
“ Whether it’s for the coin or the miner, this is the last chance to get on the bus before the bull market .” After the “9.25 tragedy” tragedy, Jiang Zhuoer encouraged people to not be erased by the short-term decline in the market through Weibo. Call for a firm and long-term grasp of opportunities.
In the face of the pessimistic tone of Nangongyuan, Jiang Zhuoer did not forget to cheer, thinking that 7000-8000 US dollars is the bottom of this round of BTC to the bull market. At the same time, as time goes by, the bull market will only get closer and closer, not farther and farther.
It is important to point out that Jiang Zhuer predicted on November 25, 2018: before and after the Spring Festival in 2019, the BTC price will eventually stop falling at 2,981 US dollars. Finally, on December 15, 2018, the BTC price stopped falling at 3,155 yuan. This price is only 5.8% higher than Jiang Zhuer's forecast price, and the time point is precisely within the range of “before and after the Spring Festival”.
Investor team representative Xu Yingkai believes that the market will enter a recession .
The theoretical support is that there is no new news and new highlights in the market, which leads to the lack of a basis for buying news to sell facts. Mining, financing, mergers and acquisitions, investment, and investment have all been greatly affected by the market. The altcoin market is shrinking, and the market is mainly based on the internal disk model. The scale wealth effect has gradually faded…
However, the direction of the market is always uncertain, and the established experience is not always effective. Just like the popular saying in the circle is “everything will fall”, but after the “ 2019 Hangzhou Blockchain Week ” held in May this year, the BTC price rushed from 8,000 US dollars to 14,000 US dollars. Perhaps coincidentally, "2019 Hangzhou blockchain week led a wave of small bulls" became the topic of the people at the time.
Today, the BTC price has once again dropped back to 8,000 US dollars, which also makes people look forward to the upcoming "2019 World Blockchain Conference Wuzhen" in November.
In case, this conference once again leads a wave of bull markets?
2019 World Blockchain Conference (Wuzhen) official website link: https://www.8btc.com/wbc-2019