What happened after the bitcoin slumped after the plunge overnight?
In early trading on Tuesday, the major digital currencies rebounded after the US fell sharply.

According to Coin Market Cap,the entire market value was US$313.8 billion, which increased by nearly US$10 billion in one hour.

WHY?

Twitter will start to ban most cryptocurrencies and ICO ads on Tuesday.

Reddit, a well-known forum and social networking site, announced that it has stopped accepting Bitcoin payments and closed an anonymous cryptocurrency trading forum.

Twitter spokesman said after announcing plans to CNBC: "We are committed to ensure the safety of the Twitter community, therefore, we and Twitter. Encryption currency add a new policy related to Twitter advertisement Under the new policy, the world will be prohibited for the first time. Token distribution (ICO) and token sales advertisements."

The market's initial reaction to this news was very negative. Investors scrambled to sell, causing BTC prices to fall by 8% to less than $8,000.

However, a large-scale upswing before and after 6 o'clock in the morning of Beijing time made bitcoin's decline in the past 24 hours narrow to 4%, almost covering all the decline in the US dollar.

This is because Twitter's news is actually not bad, but it is good, because the mainstream digital currencies such as BTC and ETH do not need to advertise themselves, and the ban on some currencies has little effect on mainstream digital currency , but it reduces The potential for investors to spend money and experience on the currency will be more likely to flow into the “digital gold” type of currency.

Despite the rebound this morning, some smaller altcoins such as EOS, Cardano (ADA), NEO, and IOTA have also experienced substantial increases. However, these news reports are actually bad for these currencies. The currency/chain is trying to win people's attention and there may be advertising needs in the future.

What should we do now?

Judging from the 24-hour rise and fall, Bitcoin is the strongest currency. The above logic was verified. Even if only looking at the increase before and after 6 o'clock, EOS won the top spot.

In addition to that, the U.S. Treasury Secretary said yesterday that it is expected to suspend trade with China and that the trade war seems to have ended before the end of the trade war. This has caused the US stocks to record the largest one-day gain since August 2015, and the S&P fell nearly 6% last week. Half lost.

The stock market is a sentimental indicator of the global financial market. The improvement of the stock market sentiment is conducive to the rise of high-risk assets.

However, under the circumstances that the overall digital currency market sentiment is still fragile, it is logical to allocate more funds in “large-cap stocks” or “digital gold”, and it is not recommended that the bottom of the bargaining mood be lifted.