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 Btc NEWS Yesterday, Litecoin's surge completely detonated the bullish sentiment of mainstream currencies on the market, which caused the focus of funds on the market to switch from DEFI to mainstream currencies. Li Qiwei, the founder of Litecoin, posted a tweet consisting of a string of emoticons on Twitter, which was undoubtedly the main driver of Litecoin's surge. The general meaning of the tweet is that funds are rushing money into Litecoin. Historically, Li Qiwei, a technology geek, has accurately predicted the trend of Litecoin three times: in December 2017, he predicted that Litecoin would peak, in 2018, he predicted that LTC would fall to US$20, and in 2020, he predicted that LTC’s operating range would be US$60-100. These three accurate predictions also convinced the market that Li Qiwei was the LTC banker. Just when Emperor Lite suddenly spoke out, Grayscale began to frantically buy Litecoin again, and for a while, all the good stories began to ferment in LTC. Is it time to study LTC again? 01 currency market trader Strategy analysis Stimulated by the strong money-making effects of BTC and ETH, project developers and investors of most stagnant mainstream currencies have increasingly strong demands for currency prices. For example, recently, Ripple, which has been making a living from selling coins, suddenly repurchased $46 million worth of XRP in the third quarter and announced that it will continue to increase its repurchases in the future to boost the price of XRP. For the previous token sales that caused extreme dissatisfaction in the community, Ripple officials also explained: Most of the previously sold Ripples were locked by customers of the ODL platform, and only a very small part flowed to the secondary market. This move is intended to improve the liquidity of XRP and will not trigger inflation. In fact, Ripple's repurchase has been completed in the third quarter. The reason for choosing to release the benefits at this time is that market value management can only achieve twice the result with half the effort if it is carried out in a favorable market environment. Therefore, behind the frequent positive releases of Ripple and Litecoin, it is actually a signal that the mainstream currency market is picking up. The fundamental reason for the compensatory growth of mainstream currencies is the result of Bitcoin's liquidity overflow. Simply put, funds that have shorted Bitcoin have begun to cover low-level varieties. At this time, as long as Bitcoin can stay at a high level without falling or continue to rise, almost all mainstream currencies will eventually have a chance to perform. According to the hype law of water flowing downwards, when the lows of XRP and LTC are filled, funds will continue to flow to third-tier products such as EOS, BSV, and ETC. Therefore, investors holding stagnant mainstream currencies do not need to rush to change positions. Pigs can fly when the wind blows. Among all mainstream currencies, ETH is undoubtedly the well-deserved leader from a fundamental perspective. However, after the closure of UNISWAP, the whereabouts of ETH with a locked value of up to US$1.2 billion has become a common concern in the market. Therefore, ETH still needs time to digest this huge uncertainty in the short term. This is also the reason why ETH has underperformed the market recently. In fact, under the strong purchasing power of the bull market, the impact of this selling pressure on the currency price is minimal. As long as investors' confidence gradually recovers, the currency price will gradually get rid of its weakness. Although most mainstream currencies will eventually make up for their gains, after a market wave, the gains of leading currencies will often be higher than the market average. So many people may ask, where is the dragon head likely to appear? Judging from the current situation, the products that have shown signs of starting are LTC and XRP. Among them, the signs of deep involvement of LTC funds are particularly obvious. While its futures positions are rising rapidly, the long-short ratio has dropped from 2 to less than 1.5. Ripple, the veteran of the mainstream currency, also began to show signs of gaining momentum after closing its daily positive streak for five consecutive days. As far as personal judgment is concerned, the author believes that Ripple has greater potential for the following three main reasons: 1. The project party has demands for the currency price, and has begun to focus on market value management, and has invested real money for repurchase. 2. In the field of cross-border transfers, Ripple is a project with real needs. Currently, Ripple's transfer cost is one thousandth of that of SWIFT, but its efficiency is 100 times that of SWIFT. With the improvement of compliance and B-side ecology, Ripple still has good room for development in the future. Currently, there are 56 well-known banks that have established in-depth cooperative relationships with Ripple. 3. Ripple, the operating company of XRP, is running an IPO. Its CEO Brad Garlinghouse announced at the World Economic Forum in Davos that the company is considering an IPO later this year. This is undoubtedly a major benefit for XRP. Recently, as the Bitcoin short squeeze has unfolded, the debate in the market about whether FOMO sentiment has reached its peak has become increasingly fierce. In fact, this debate started at 16,000. At that time, the author concluded that FOMO sentiment had begun to appear, but it had not yet reached its peak. The two major basis for judgment are that the long-short ratio does not show that bulls are overheated, and futures positions still fluctuate in the same direction as the trend. If the market has a single-day liquidation of more than 400 million US dollars on a certain day, you should pay attention. This is likely to be a signal of an inflection point in positions. 02 currency market trader Market analysis BTC: The trend is very strong. After encountering resistance at 16500, it only corrected less than 3% before returning to the upward trend again. The adjustment was much smaller than expected. During the second attack of 16500, the most obvious feature of the handicap was that all the large pressure orders piled up in the early stage were wisely withdrawn. Historically, Bitcoin has only been above 17,500 for just three days, so almost 95% of Bitcoin holders at this position are in profit, and there is no resistance level for Bitcoin to continue to rise. At present, the rise is beginning to show signs of accelerating, and it is recommended to continue to hold. ETH: After UNISWAP suspended liquidity mining, nearly US$800 million in assets flowed out of its capital pool in one day. However, these outflows of ETH are likely to flow to other arbitrage fields and may not all be sold by holders. As long as Bitcoin continues to rise, it is basically a high probability event for ETH to break through 488, but it will be difficult to change if the trend is weak for a while. You can continue to hold it, but it is not recommended as a new entry option. LTC: Successfully winning 68 can basically be confirmed as a weekly level breakthrough. The next first target is 84, and Ogura can chase the car. XRP: Technically, it has emerged from a weekly-level W-bottom form. Once it breaks through 0.32, it can be confirmed as a reversal signal. It is recommended to buy or hold. There is still a lot of room for growth in the future. EOS: On November 16, it officially broke through the 30-day moving average that has suppressed the currency price for a long time. Technically, a reversal signal has appeared. There is a certain room for supplementary growth in the market outlook, and small positions can be pursued. FIL: The trend is weak, and the overall trend has rebounded slightly following the broader market. DOT: It needs to break through 4.9 to open up space. It is recommended to continue to observe. LINK: The 13 heavy pressure level has been broken through, and it is expected to reach 14.5 in the market outlook. UNI: After liquidity mining is shut down, the future will be the time to test the real demand. If the locked-up volume and fee income are still retained beyond expectations, the currency price can still stand firmly above $3. To prevent loss of contact, please add the editor’s WeChat account:   Disclaimer: The articles pushed by currency market traders are for reference only and are not used as a basis for investment research and decision-making. Any investment decisions made by investors based on them have nothing to do with this official account. Welcome to follow:  Friendly reminder: If you want to reprint an article, please reply to the reprint in the public account conversation box. Currently 150,000+ people have followed and joined us                 |
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