Around us $60000, bitcoin's good news emerges one after another, but the price of bitcoin still hasn't broken through, which indicates that the suppression of bears in this position is quite strong. In the past two days, the price of bitcoin has been basically in a narrow range of upward shocks. The relevant good news is as follows:

PayPal allows us consumers to use cryptocurrency to pay through PayPal wallet;

Visa announces that it is allowed to use usdc to trade on its payment network;

CME launched the mini bitcoin futures contract to provide more opportunities for small and medium investors to participate;

Biden's 2 trillion yuan infrastructure plan reduces the market's tightening expectations;

JPMorgan believes that the long-term value of bitcoin will reach 130000 yuan, and it is expected that institutions will vigorously adopt bitcoin; (today's news)

Coinbase was approved to be listed and traded on NASDAQ on April 14. It is worth noting that the average monthly revenue of coinbase in the first quarter exceeded US $400 million, a record high. According to this calculation, the annual revenue will be nearly US $5 billion, which is a terrible growth space. (today's news)

Gray founder of the morning tweet: bitcoin's new high time has come. (today's news)

Morgan Stanley applied for indirect investment opportunities in bitcoin for some funds, which increased the possibility of secondary entry of institutions through GBTC or bitcoin futures.

There have been so many positive results in the past two days. The price of bitcoin is still below 60000, and madman is still not sure whether he can break through directly. At present, the mainstream coin is better than the pancake as a whole. As long as the mainstream coin (mainly powerful tokens such as Ethereum, Boca and Monroe) can reach a new record, the make-up behind bitcoin is a high probability event, so the main focus of these two days is still on the mainstream On the coin, the atmosphere of the overall bull market has not changed, so we should be cautious and bullish.

According to the research report, the currencies listed in coinbase are much stronger than those in other exchanges. The average growth rate of offspring currencies listed in coinbase is 91%, and the overall earnings range from 32% to 645% after five days, while the average growth rate of other exchanges is 20%, and the earnings after five days are - 25% - + 60%. This set of data supports the view repeatedly stressed by previous madmen that if you don't choose small currencies, the currency that participates in the listing of coinbase is the best choice.

Recently, 12003 bitcoins have flowed out of coinbase, which indicates that the action of institutions to buy and withdraw bitcoins still exists. The overall speed is not too fast, which should be directly related to the price of bitcoin itself.

The premium rate of usdt was 2.44%, the price of bitcoin did not rise, and the price of OTC continued to rise, indicating that the demand for stable currency is extremely strong, which is the reserve force to continue to pull up in the future and the basis to continue to strengthen.

The first quarter financing of encryption company is about 2.6 billion US dollars, which is more than the total amount of 2.3 billion last year. It shows that the frenzied bull market is still going on. It is not known when the frenzy will reach the extreme. At least the industry is in a prosperous state.

Tether has issued an additional 1.2 billion usdt. This wave of funds is very fierce. It hasn't been printed for several days, and once printed, it will be 1.2 billion. Maybe it's also for the purpose of reducing the premium.

The total market value of cryptocurrency exceeded US $2 trillion, a record high. Although bitcoin didn't set a new record, all kinds of currencies are in a mess, bringing up the overall market value. The profit making effect is what a bull market should be like.

Gray still didn't buy anything yesterday, the discount rate of GBTC was - 8.51%, and the average discount rate in March was - 6%. Even so, bitcoin didn't fall much, which shows that the impact of gray on the market has been extremely limited, and from the data point of view, its products have no competitive power in the rapidly changing market, so how to transform in the future will be crucial for the company.

(2021-4-3)