In January 29th, as of 7 p. m., the global encrypted currency market was roughly smooth. Among them, bitcoin remained above $11000, and the ether square stood above $1100. Although all kinds of encrypted currencies have fallen from the afternoon, the decline is not much, and all of them are on the main support.
Bitcoin is not prominent in today's performance, first from 9 in the morning began to fall to about $11400, but buying below is not much, trading sentiment was so fluctuated at noon at about 1:50, and fell to wave, but is stabilized at around $11200, buyers only need not much volume on the success of the tray then, prices have fluctuated around $11300, because the United States will not play game player at night, so quiet all day long.
From today's trend, we have fulfilled our analysis yesterday: "if 28 and 29, bitcoin can continue to stand for more than 11000 dollars, and Ethernet can continue to stand for more than 1100 dollars, then it will not be easy for the recent encryption money market to crash."
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Yesterday we also mentioned "with the recent dollar index fell, with apple and other manufacturers continue to move overseas assets back to the United States, so the whole American asset markets, including stocks, real estate, commodity trading and so on, in 2018, is predictable and more relaxed, that liquidity is very strong, a lot of the return of the troops to the capital funds in the search for investment, on the one hand, strengthening the American industry and venture capital, on the other hand will make the capital market more prosperous, so we have repeatedly stressed that the U.S. technology stocks, especially the Nasdaq's leading shares will have a good performance in this year".
Today, the dollar index is expected to rise slightly, stocks may rest slightly recently callback what it appears to be of crypto currency, more favorable, because they are always acting as "gold", the risk of stock market adjustment, will make people put money to gold and other conservative allocation theory, if capital predators really want to build the concept of "new gold", then they may have nodes in this adjustment to pull a crypto currency.
But even if U.S. stocks temporarily callback, in the long run, no worries, first of all, despite the fourth quarter gross domestic product (GDP) effect dropped to 2.6%, but the main stock index in the past week still sharply higher, because the data show that consumer spending is 3.8%, this is a very strong growth in the United States the fourth quarter GDP only 2.6% of the reason is that the trade deficit is relatively large, too much impact on the overall economic situation is not good.
Second, the ETF fund QQQ, which followed the NASDAQ index, rose 2.75% in the past week, becoming the best performance index. We have repeatedly stressed that the current big data and artificial intelligence have made substantial progress. The upward trend of technology leader is not so easily interrupted. From the perspective of technical indicators, the rising trend of MACD is continuing.
Moreover, even after the two major loopholes in Intel, the stock market has exceeded the resistance level for many years. This shows that this breakthrough is very intense, and this rising trend will not be easily pulled back.
So, from the point of view, it all shows that the US technology stock is absolutely the current hot spot, not the encrypted money market, which is still looking for the substantial support.
We expect that if the US technology stocks adjust slightly in recent days, bitcoin will still have the chance to return to the 12000 US dollar mark. At least it will not fall below the 10400 dollar mark. Most of the time will fluctuate from 11000 US dollars to 11800 dollars.