Trump, Mimura Budget under Fire with the revival of BTC memories for the year 2018

Bitcoin (BTC) scored between $ 94,000 and 100,000 dollars at the confusion of many market participants.

While the largest encrypted currency historically shows strong directional movements followed by unification of months, known as stairs price movements, this time it looks different. It is usually followed by monotheism before. On the other hand, the range is now narrowed. In December, it was $ 90,000 -110,000 dollars.

The attendees participated in the consensus of Hong Kong’s consensus last week, with some of the prominent market makers and industry numbers that indicate that the outbreak micoin frenzy is a major reason behind the calm in BTC and the broader Altcoin market, which appears to be similar to the heavy procedure from seven years ago.

“The market was very Saturated by the launch of memecoinEvgeny Givue, CEO of the leading market company, said at the conference that the indigenous population has been exhausted from this.

Givwe said that the distinctive symbols such as President Donald Trump Trump and the scale symbol promoted by Argentine President Javier Millie tended to extract liquidity from the most firm cryptocurrencies, as he bought traders at the expense of other coins.

This stagnant behavior in the BTC price in September 2018 reminds us when the range was tightened over the successive weeks, eventually between $ 6000 and $ 6400.

It is not a completely parallel situation. This happened during the bear market, following a sharp decrease from the highest level in Bitcoin at the time, which is about $ 20,000, which makes playing somewhat with a decrease in investor confidence. This time, BTC is only about 12 % less than its highest level ever.

President Memokin

Three days before its opening on January 20, Trump first appeared in the official code, Trump, which reached a roof of the market more than $ 12 billion in just 48 hours. Its descent was equally quickly, and the market ceiling collapsed to nearly 3 billion dollars by early this month, data from CONINECKO View.

The interesting thing is that the total market value of encryption He remained largely unchanged About $ 3.5 trillion during a breach mutation cycle. This is a sign that Memecoin has not done much to draw new capital to the market. In other words, the money was simply deported by BTC, Solana’s Sol and other coins.

Moreover, while some portfolios that have invested early earned a large amount of money, about 800,000 A total of $ 2 billion has lost By selling in confusion or contract with price collapse, according to the analysis.

A similar thing that was played through Farra Fiasco in early this month, which is what He destroyed $ 251 million of investor money It became clear to the late wealth of the encryption market.

Perhaps for this reason Abraxas Capital Management Fabio Frontini said Memecoins should be banned. He was speaking during a quick tour of the “View of Wall Street to Chefro” session at the consensus.

Jason Attins, chief trading employee in Uros, said the fact that the momentum absorbs liquidity from other sectors in the market shows the fragility of liquidity.

“It is clear that adoption is still at an early stage,” Atkins said in an interview. “The number of participants is still relatively low, and the fact that a high -level symbolic launch can send shock waves across the market that shows the fragility of liquidity. It is a clear indication that the broader market lacks adequate depth and stability.”

These are the main requirements for attracting more institutional interests.

“Founding investors actively explore how they can deal with this space. But they are careful. They need to see a more mature and stable market that can deal with greater sizes without disrupting the paid speculative activity.”

Bitcoin direction

Opinions have been mixed about what happens after the BTC price.

Many consensus delegates said that the madness of M and strange stability in BTC is unhealthy. They said that this range often ends with a negative step. This is what happened in 2018, when monotheism ended with a sharp decrease.

On the other hand, mymecoin saturation is It overwhelms positive news On the organizational front, Javo said from Wintermute.

“People do not necessarily have a lot of positive news. Gold completely.

Altcoin Atfs?

The organizational environment includes changing the American administration and Gary Ginsner’s exit from the Securities and Stock Exchange Committee.

A number of exporters have now submitted SEC requests for money on the Stock Exchange (ETFS) associated with Solana’s Sol, XRP, Dogoin (Doge) and Litecoin (LTC).

To date, the organizer has approved only Bitcoin and ETHER ETFS, assuming that the CME monitoring system for Bitcoin and the future futures reduce concerns about price manipulation. If CME FUTERES is seen as a prior condition to win the approval of the investment funds circulating in the traded investment funds, it should be noted that the broader Altcoins does not have this privilege yet.

Gify does not agree.

“It is the remnants of the previous SEC leadership. I will definitely not be surprised if Solana and other ten symbols are approved to exclude Stablecoins,” he said.