A few days ago, U.S. stocks rose, U.S. bond yields fell slightly, but bitcoin did not follow. It fell back from a record high to around 55000 and fluctuated repeatedly, with almost no decent rebound. Bank of America's survey shows that about 43% of investors believe that the yield of 10-year Treasury bonds will reach 2%, which is a bad signal. Many traditional financial analysis now include bitcoin as the leading indicator, because it is a 7 * 24 continuous trading, and the market is completely open and transparent, which is difficult to manipulate. It is a real market behavior investment. No one cools him down when he is soaring, and no one comes out to protect him when he is falling. Therefore, his fluctuation continues to be the first in the global investment field. This kind of market-oriented behavior can more truly reflect the capital's expectation of future economic and monetary policy. Therefore, to some extent, bitcoin will lead the trend of the world ahead of the stock market and commodities. This is the power generated from the bottom up, which is more in line with the origin of the universe, and is also the way of the whole universe. If you are interested in this aspect, you can read Kevin Kelly's out of control, which should be one of the required courses after understanding the operation mechanism of blockchain. After reading this book, you will know how blockchain and bitcoin will subvert the current social form.

According to a survey by UBS, 10% of the U.S. economic stimulus (US $40 billion) will be used to buy bitcoin and stocks. Bitcoin is expected to account for 60% of this expenditure, and the corresponding increase in bitcoin's market value will be 2-3%. Judging from today's trend, it is estimated that these ammunition will be consumed near 57000. At present, we have not seen any obvious counterattack from bulls. Therefore, on the whole, we still focus on reducing positions at high prices.

Gray CEO thinks that a 10% drop in the price of bitcoin is a buying opportunity. These crazy people think that there is nothing to refer to, and there is no logic to call for orders, which will only prolong the callback cycle of the market.

JPMorgan's report shows that institutional inflows decreased significantly this quarter, while retail investors are expected to exceed institutional inflows in the first quarter. This is obviously not a good thing. Retail investors are highly speculative and it is difficult to hold bitcoin for a long time like institutions. Therefore, bitcoin is likely to repeat in a large range.

Bitcoin against the US dollar accounted for 82.75% of the total volume. Japan and South Korea were the second and third, indicating that the old us was still the main battlefield, and Japan and South Korea were also very crazy. South Korea's Internal Revenue Service was formulating regulatory policies. Overseas financial accounts (including virtual assets) of more than 500 million won had to be reported to the tax authorities. South Korea's financial commission also announced that encryption enterprises had to report their business. At the same time, South Korea was also crazy to investigate Tax dodgers using bitcoin. In a word, everything is moving towards a more compliant direction, which provides a better idea for the regulation of cryptocurrency in Asia.

Tether has just printed 500 million yuan, and last night printed 1.1 billion yuan. The fund for bottom reading went into the market crazily, which is temporarily regarded as an adjustment relay.

The total inflow of cryptocurrency investment products in the first quarter of this year reached US $4.2 billion, more than US $3.9 billion in the fourth quarter of 2020. However, the problem is that the price of cryptocurrency has nearly doubled, and the inflow of funds has only increased by 10%. It is difficult to support the current price.

(2021.3.20)