01
Cryptocurrency News Interpretation
TheBlock’s research team has partnered with Coinbase to reveal trends in cryptocurrency and blockchain investments and product plans from the largest U.S. companies and well-known consumer brands. The research informs a new report from Coinbase titled “The State of Cryptocurrency: Enterprise Adoption” released on June 22. Since the beginning of 2020, more than half (52%) of Fortune 100 companies have started cryptocurrency, blockchain, or Web3 initiatives. Since 2020, companies in the technology, financial services, and retail sectors have led the Fortune 100 in Web3 adoption. In the first half of 23, the growth in retail adoption made up for the decline in adoption by financial services companies. Citi Ventures, Google Ventures, Microsoft Ventures, and Goldman Sachs have made as many private investments in cryptocurrency as all other Fortune 100 companies combined. The influence of cryptocurrency is growing, and more and more institutions are entering the market. The next bull market is definitely worth looking forward to.
Important news overview:
1. Binance withdraws plans to delist privacy coins in Europe:
2. DWFLabs plans to purchase $50 million worth of ALGO tokens;
3. HSBC Hong Kong allows customers to buy and sell virtual asset ETFs listed on the Hong Kong Stock Exchange:
4. Hut8 announced that it has obtained $50 million in credit funds from Coinbase Credit Company;
5. This Friday, $6.8 billion of Bitcoin and Ethereum options will expire on Deribit;
02
Cryptocurrency Trading Tips
Mental training
In the investment market, success rate is always a topic that cannot be ignored, especially in contract trading. For example, if you win 7 out of 10 bets, but lose 3 times more than you win 7 times, you have a 70% success rate. But what is the use of such a high success rate? Sometimes, even if 5 out of 10 trades are wrong, but you stop loss and take profit reasonably, the result is profitable. Which one do you want?
Therefore, the success rate is a false proposition. The charm of contract trading is to make a small investment for a big return. With a stop loss of four or five hundred points, you can get a profit of three or four hundred points. It is a joke to want to make money in the trading market with this success rate.
The more you pursue success rate, the more you lose profit rate, and the more you pursue profit rate, the lower your success rate. The profit of gambling in the market is not the number of times you are right, but how to increase the stakes when you are right and make the right run, and how to stop the error from spreading when you are wrong. The financial market is never about old people making money from newcomers, but about wise people making money from fools!
03
Cryptocurrency market analysis
During the sluggish adjustment phase of the market, there are basically no major changes.
In the 30-minute trend, the three-stage rise since 24781 ended. 31471 is the top, and the whole wave of correction begins. The support below is around 29500.
It continues to fluctuate around the long-short dividing line of 30,600, with basically no room for operation.
Next opportunity: After the adjustment is over, the third uptrend in four hours.
Common manifestations: 5f18~36 segment central axis upgrade or 15f 9 segment upgrade and then breakthrough. (Interval set + multi-level linkage must refer to the stabilization of the maximum level).
In terms of operation, continue to view it as a pullback. If there is a large volume pullback, you may consider buying. If there is no large volume, do not participate!