Today, the opening of US stock futures did not continue to rebound as expected, but fell sharply at the opening, which may have something to do with the Israeli-Palestinian conflict. Gold, crude oil and other commodities rose sharply this morning. Fortunately, it has little impact on the currency market. Now Bitcoin is wavering between risky assets and safe-haven assets. If it can get rid of the linkage with US stocks in the near future and continue to be linked with safe-haven assets such as gold, then the continued intensification of the conflict will be a certain benefit to us.
There are less than 200 days left for the next Bitcoin halving. Many people were disappointed after watching the halving of spicy snacks this year, and thought that the halving of Bitcoin may also be over. I think so. Halving must be a positive thing. For a commodity like Bitcoin with a limited total amount, the reduction in supply will definitely be beneficial to the price increase. It is just a matter of how much it will increase. Moreover, CZ also said yesterday that the hype before the halving is just market hype. Based on the experience of the past three halvings, the price of the currency will continue to hit new highs within a year after the halving. This is the unique cyclical charm of Bitcoin. There is no doubt that Bitcoin should still be the most worthwhile currency to invest in this year or even next year. Even when the exchange rate of Bitcoin and Bitcoin falls to the point where it can be bought at the bottom, it is also done by buying at the bottom of the exchange rate, either by exchanging coins or by hedging with contracts, not by using U to make naked hedging. One is to earn BTC, and the other is to earn U, not to say that the price can be bought at the bottom of Bitcoin and Bitcoin.
According to data from Bitcoin investment company NYDIG, Bitcoin prices fell 11.1% in Q3 this year, outperforming only long-term government bonds among major asset classes. However, almost all asset classes fell in Q3. Despite the decline in the third quarter, Bitcoin rose 63.3% at the beginning of this year and is still the best asset class.
Today, we look at the weekly chart of Bitcoin, and it is still a very good trend. If it can hold 27,000 this week, the market trend in the first half of the month may spread to the whole month. Now we are afraid of two situations. One is that it will quickly rise and fall this week, and it will not be able to pass above 28,000. The other is that it will be linked to risky assets related to the US dollar (US stocks). In this case, the macro economy will cause a relatively large damage to risky assets. Sideways or slight increases are good things. It is good to hold the spot, after all, the halving is not far away.
Today's Fear and Greed Index: 50 (Neutral) #BTC
