Profit-making Cryptocurrency Lowers The Price of BTC, and The Adjustment of Mainstream Cryptocurrencies Is Accelerated

 2021-03-05 10:02:28

Analysts at Bexplus believe that the price of BTC is still below $50,000, and the price retreats slightly, which means that profit-making cryptocurrency has suppressed the price of BTC and opened up room for adjustment of mainstream cryptocurrencies. From the flow of funds, the direction of the outflow of funds on the 30th, 7th, and days is similar, and most of the funds flowed to USDT and USD. 70% of the funds flowed out to USD, and up to 17% of the funds flowed out to USDT. In other words, what currently affects the trend of the BTC price is actually the profit-taking cryptocurrency’s gains, which has continuously lowered the price of BTC. Therefore, from an operational point of view, the basis of homeopathic trading is still high-level cashing in returns.


In terms of mainstream cryptocurrencies, the adjustment pace of BTC and ETH is synchronized, and mainstream cryptocurrencies with larger gains are all retracing. In other words, there is no shortage of mainstream cryptocurrencies with price retracements, but the difficulty of whether they can make profits immediately after buying is actually increasing. It is obvious that BTC's current trend is linked to the adjustment of US stocks, and it is the most important adjustment performance in the past six months.


From the perspective of overall operation, traders must be cautious when adding short-term positions and wait for confirmation of the bottom or full callback before considering low-price trading.


The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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