Carefully appreciate this sentence "Bitcoin is the only cryptocurrency"
This is the market share of Bitcoin
Against the backdrop of the overall collapse of cryptocurrencies
Bitcoin is still the only cornerstone that can take the lead
The market share has reached a new high of 62.24%
Once again verifying the value of Bitcoin as the only true god
This plunge can be understood from several levels
1. News
US President Donald Trump recently announced trade tariffs on China, Mexico and Canada
This will continue to increase the level of gunpowder in the trade war between countries
At the same time, it will further increase their domestic prices
It is very likely that the price level that has been suppressed with great difficulty
will be raised again, causing concerns about whether the market will continue to cut interest rates
2. Emotional aspects
US stocks began to fall last week After that, the cryptocurrency market was also affected, which caused people to have a fear of falling prices. Any slight disturbance was a sign of falling prices, so the fear of being frightened was generated. 3. The good news disappeared. After Trump took office, it was found that his various actions did not have much impact on the cryptocurrency market. Early expectations naturally turned into disappointment. At the same time, it seemed that there was no good news. Technically, there was no news. There was no money. There was no emotion. 4. Observe from the on-chain data. Observe the trend of Bitcoin in this aspect. Now there are many signs showing a weak trend. The current willingness to buy is actually mediocre. In addition, the price is near the historical high, which results in not many people wanting to continue buying, and the number of people who want to sell is increasing.
