Bitcoin Market Analysis (February 8, 2022)

[Review yesterday] The global financial landscape is actually changing quietly. Before last year, this situation was not obvious, but after last year, this situation will become more and more obvious. As the market value of Bitcoin exceeds the trillion mark, the scale will increase The bigger the country, the more Bitcoin will show its status and strength. Before Bitcoin, the US dollar was the dominant force, and it would sanction you at any time. It would be difficult for a small country to deal with it. That would be a real sanction. With the continuous expansion of the scale, such sanctions will be greatly reduced in the future, and the final result will be that the usual methods of the old and the United States will not work. More people will embrace Bitcoin and push the market value of Bitcoin to the scale of tens of trillions. , At that time, the students who insist on collecting coins at this moment will become rich.

The Canadian accounting firm KPMG added Bitcoin and Ethereum to its corporate balance sheet, which is also a more meaningful event, because the world's leading four audit firms are Deloitte, Ernst & Young, PricewaterhouseCoopers and KPMG, so KPMG Enough power and influence, said Benjie Thomas, managing partner at KPMG Canada, said crypto assets are a mature asset class increasingly exposed to investors such as large insurance companies and pension funds, hedge funds and family offices. Crypto assets, traditional financial services such as banks, financial advisors and brokerage firms are exploring offering products and services involving crypto assets, these investments reflect our belief that institutional crypto asset and blockchain technology adoption will continue to grow and become Regular part of the portfolio.

U.S. crypto asset management firm Valkyrie has previously submitted a bitcoin mining company ETF that has been approved by Nasdaq for listing under the symbol WGMI. The ETF will track major bitcoin mining companies.

The California superfood chain Everbowl will use the Bitcoin standard to start business operations and convert all cash reserves into BTC. More and more businesses embrace Bitcoin, buy Bitcoin, and eventually drive more retail investors to enter the market. The future is unimaginable, we can only say keep the coins.

Crypto startup Aleo Systems Inc completed a $200 million Series B round, led by SoftBank and Kora Management, with participation from Andreessen Horowitz (a16z), Tiger Global, and Samsung Ventures. Ethereum scaling solution Polygon closes $450 million financing, led by Sequoia Capital India, SoftBank, Tiger Global, Galaxy Digital, Republic Capital, Makers Fund, Alameda Research, Alan Howard, Alexis Ohanian, Steadview Capital, Elevation Capital, Animoca Brands, Spartan Fund, Dragonfly Capital, Sino Global Capital, Variant Fund and Kevin O'leary participated. Polygon is actively expanding its portfolio of Ethereum scaling solutions and is committed to attracting a larger developer ecosystem.

According to the theory of the bull-bear cycle of the previous two years, now is the time for a bear market, but everyone sees that capital never sleeps in the current cycle, and a shot is hundreds of millions. Behind this activity is crazy capital promotion. So I still agree with the previous opinion. It is unlikely that a bear will be a two-year cycle. In the future, there will be a market without a bear market. After a short-term adjustment in a few months, the market will be reversed immediately, because the trend has enough hot spots and momentum. To push the entire crypto industry forward until it reaches a certain peak.

The Aave Protocol team released Lens Protocol, a new Web3 social platform based on Polygon. According to reports, Lens Protocol is a composable decentralized social graph with general social media features such as profile editing, commenting, retweeting posts, etc. The difference is that Lens Protocol is powered by NFTs, allowing users to own and control all the content they create.

The current total holdings of Grayscale amounted to US$39.009 billion. The premium rate of mainstream currencies and the daily changes in holdings were: BTC: -25.55%; ETH: -20.28%; ETC: -48.75%; LTC: -41.49%; BCH: - 30.59%;

[Bitcoin Market Analysis] As I said yesterday, Bitcoin has gone out of a downward trend, and now the short-term level is rising and rebounding, so you can trade with confidence and boldness. Since it is a rebound market, it will not end all at once. I give Everyone's operation suggestion is to buy the bottom in a short cycle, and make a profit before the end of the month. In terms of copycats, we can focus on GameFI, public chains and old high-quality DeFi.

At the 4-hour level, the upper resistance is around 45500 and the lower support is around 43100.

[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.