Bitcoin Market Analysis (January 17, 2022)

[Yesterday's review] US retail giant Walmart applied for several new trademarks late last month, indicating that it intends to create and sell virtual goods. In another document, the company said it will provide users with virtual currency and NFTs. More and more Internet giants are running into the market and layout. This rhythm cannot be stopped. No matter whether the interest rate is increased or not, whether the table is reduced or not, all kinds of Builds cannot be stopped, so the industry has already started, and the market value of the entire encryption industry With a scale of about 2 trillion, it is already difficult to turn around. Only by working hard can there be a future.

The recent NFTs are too popular. If last year’s wave of NFTs was a game of a few people in the industry, then this year’s NFTs feel that they have spread to all kinds of retail investors. The NFTs of little brothers and sisters can be hotly hyped. It can be seen that the enthusiasm of retail investors has continued to rise, and it has not declined due to interest rate hikes. However, here is a reminder that small pictures are definitely not for ordinary people to buy and sell.

Since last year, NFT has been out of the circle, which has also attracted the attention of regulators. No, the regulators in the old and the United States have been dispatched. The US Internal Revenue Service will face a tax rate of up to 37% and billions of dollars for NFT investors and creators. Tax, the IRS officials responsible for dealing with tax evaders said that they are preparing to crack down on this, so for NFTs issued in the United States, this is not a good thing, so whether it is NFT project parties or investors, in the The United States still needs to be careful. I believe that NFT taxes will be available in various countries in the future.

The Global Wealth Management Forum's 2022 "New Economic and Financial Vision under the Global Recovery" summit was held. Cathie Wood, founder, CEO and chief investment officer of Ark Invest, said that Bitcoin is the first global private The digital currency system, which is based on rules. We think emerging markets will have a polarized attitude, either ban it or welcome it.

The number of Bitcoin Lightning Network nodes reached 32,874, a year-on-year increase of 3.86%; the number of channels was 85,291, a year-on-year increase of 2.3%; the network capacity was 3,340.82BTC, a year-on-year increase of 1%.

According to the latest Finder survey results, 11.3% of 2,003 South African internet users surveyed said they own cryptocurrencies, slightly higher than the US (10.5%) and Sweden (9.8%); In the survey, 10.3% of South African respondents said they own cryptocurrencies. According to the latest survey results, 56% of cryptocurrency holders hold Bitcoin; Ethereum is the second most popular cryptocurrency, with 31.5% of cryptocurrency holders holding ETH.

[Bitcoin market analysis] I am not worried about the market now, because the market has been adjusting weakly, and there has not been a decent rebound, so the current trend can be understood as a bottom adjustment to prepare for a rebound in the future. In this case, I have always said that you can pay attention to public chains, Gamefi and old DeFi. FTM, NEAR, ATOM, ONE, etc. are relatively good these days. The current stage is the stage of formal development of infrastructure, so public chains can best capture value. After stabilization, I believe that chain-based applications will have greater explosive power in the future, even larger than the public chain, so there is no shortage of opportunities, but you have to keep learning, so that you can seize the opportunity in time.

The 4-hour level, the continuous bottom divergence trend, is currently a shock adjustment trend, and the lower support is near 41900 and 40500.

[Disclaimer] The above content does not constitute any investment advice. Please treat the blockchain rationally and do not blindly trust others. The digital asset market is extremely volatile and risky, and you need to be highly cautious when entering the market.

[Risk Reminder] Digital assets fluctuate greatly and the risks are extremely high. Please participate with caution, put an end to the full-cow stud, and refuse loan leverage.