Abstract : According to ChainDD Analysis, while the global epidemic has intensified and the global stock market has collectively collapsed, the digital currency collective diving is protecting U.S. stocks. The next thing to do is to hold cash and wait patiently.
The global epidemic has intensified and the global stock market has collectively collapsed. Bitcoin has also led the collective diving of cryptocurrencies, with significant volume, reaching a minimum of 5,500 points, and the market value of the cryptocurrency market has evaporated to nearly 400 billion yuan. It was mentioned before that large-scale positions should be avoided to prevent systemic risks. People who have a small amount of cash do not need to worry, but wait patiently for the next time to enter. At present, part of the reason for the large-scale selling of digital currencies is that retail investors have started to accumulate cash in order to hedge their risks. At the moment of the epidemic, there are no so-called safe-haven assets. While gold has fallen, cash is the most important thing. Another part of the reason is that some institutions are preparing to transfer funds to protect US stocks. If the "economic axis" of US stocks collapses, the whole world will be negatively affected.
So what happened with BTC that many people care about? At present, all technical indicators are no longer useful. This question should be answered by the WHO. If the epidemic continues to worsen, U.S. stocks will collapse further, and other assets will be further transferred. If the epidemic slows down gradually, the funds will gradually become active. At that time, it is an opportunity to dip the bottom. So at present, it's hard to say anything for sure, but we still have to believe in the strength of various organizations and fight against the "epidemic" together.