LOEx Market Research Report on December 22: The epidemic caused temporary panic in BTC

[Today’s Hot Tips]

1. [Report: This year’s cryptocurrency fund inflow exceeded $5 billion, an increase of over 600% over last year]

According to Reuters on December 22, the latest data from the asset management company, CoinShares, shows that so far this year, investors have invested a total of $5.6 billion in cryptocurrency funds and products, an increase of more than 600% from 2019. Capital inflows and the latest price changes have brought the industry’s assets under management close to $19 billion in 2020. As of the end of 2019, its assets under management reached only $2.57 billion.

2. [The founder of Skybridge Capital is launching Bitcoin-related investment funds]

According to the news from The Block on December 22, a document submitted to the US Securities and Exchange Commission on December 21 shows that the anthony Scaramucci, founder of US hedge fund Skybridge Capital and former US White House communications director, is pushing ahead with plans to invest in Bitcoin, although it may be an indirect investment. The filing documents show that the fund is called SkyBridge Bitcoin fund L.P. (SkyBridge Bitcoin fund L.P.). Although the minimum investment scale listed in the filing documents is $50,000, it has not yet received investment from outside participants.

3. [Grayscale Cryptocurrency Trust Fund has suspended accepting new investments]

According to CoinDesk’s news on December 22, Grayscale Investments LLC announced on Monday that its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Grayscale digital large market capitalization funds are currently not accepting new investments.

[Today’s market analysis]

Bitcoin (BTC)BTC oscillated and rose in the early morning, breaking through 23300 USDT, then BTC fell rapidly, dropping to 22640.75 USDT as low as possible. After that, BTC rebounded slightly and is now located near 23100 USDT. Most mainstream currencies followed the broader market and rebounded slowly after a shock drop in the early morning. BTC is currently trading at 22945.43 USDT on LOEx, an intraday increase of 1.17%.

Yesterday’s big correction, in fact, I don’t feel much, but the market seems to be trembling, frightening many people, and many people think it’s the end of the market.

Actually, yesterday, at best, I was frightened by the external market. Of course, it can also be said that there is a need for adjustments, anyway, anyway, I think it’s almost the same after breaking 22,000.

So in theory, the main reason for yesterday’s decline was the collective panic in overseas markets. But I think I should go through this for a while, and I won’t panic anymore. After all, it was not a big deal.

The epidemic of foreigners is really a headache. Every time it comes so suddenly, the market has to go down collectively.

However, according to the experience of the previous few times, it was over in a panic. After all, it is not the first day that everyone faces the epidemic.

If you put aside this factor, would you still worry about the Bitcoin market? I don’t think there is any reason to worry.

Operation suggestions:

Support level: the first support level is 22,500 points, the second support level is 22,000 integers;

Resistance level: the first resistance level is 23,000 points, the second resistance level is 23,500 points.

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