While enjoying the pecking order of institutions, are you concer

The year 2020 will leave us. It has been a challenging year, a year since the outbreak began, with more than 79 million people infected and 1.7 million dead. Countries in the economic crisis, the world leader of the United States, in order to deal with the outbreak of the dollar, leading to abundant global liquidity, commodity inflation. But for the digital currency market, the landscape is unique. On the one hand, people worry about the currency depreciation caused by the financial crisis and buy a lot of Bitcoin to hedge against the currency depreciation. On the other hand, institutional investors begin to get involved in the market and participate in trading, which is the change of supply and demand relationship. It should be said that 2020 is the best year for the digital currency market.

While 2017 was also a year of euphoria for Bitcoin, more of the participants were individuals, and this time, institutions are driving the market. So it might seem a little more organized.

At the end of 2019, I made a prediction on the market, which was relatively reasonable on the whole. Although I did not know the interpretation of the epidemic at that time, I judged that there would be a c-wave adjustment in the market, and bitcoin did fall below $4,000 at the beginning of the year. But what happened later, I think, was beyond me.

While it is an obvious fact that the Fed is flooding the market with dollars, my rational analysis suggests that institutional investors in the United States should be equally rational. But this time I was wrong.

In my opinion, institutions should enter the market only after the digital money market is well regulated, but I have neglected the degree of hunger and the nature of institutional investors. In fact, compared with the dealer, they just put on a more gorgeous coat.

Therefore, when the bitcoin continued to rise in the second half of the year, I remained cautious enough, which may also be the reason why people like me have never been able to make huge profits. (I am also deeply sorry that many investors who trusted me lost the opportunity to make money in a bull market because I was too cautious.) In this market, it's too rational to be true. But rationality isn't all bad, and without it, $19,000 on guard duty in 2017 would be inevitable. Maybe some people will say, it doesn't matter, this is not up back! But what if you buy XRP? Or some other counterfeit currency?

So the two sides of the coin tell us, when everything looks very beautiful, please stay awake for a moment.

The other day I went to see Wonder Woman 1984, a cliched homily dressed in science fiction. But this is exactly what we've been talking about, greed and fear. What do we lose when we get what we've always wanted?

Many people buy Bitcoin in the belief that it will be an alternative to gold and a hedge against inflation. But faith is never a word in the institutional dictionary. Understand that they are not the owners of the assets, they are just helping the clients to maximize the profits. So what they care about is not whether Bitcoin becomes digital gold or XRP is financial Ponzi. They only care about how much money they can make.

In 2017, the CFTC approved trading of bitcoin contracts, and investors are looking to institutional participation to bring more money to the digital money market. However, it backfired when CME went public, which was then followed by three years of gradual bear painting, leaving countless people empty-handed. So as institutions bring money, they also bring bloodshed. It's like the Duke of clumsiness in Wonder Woman, whose background lies in greed and Deception which have been clumsiness behind the institutional treachery. If you can't control your desires, you may end up paying the bill.

So as Bakkt starts offering futures trading, Grayscale, Fidelity starts buying bitcoin, and Nasdaq prepares to launch a digital currency index, we should also be soberly aware of the bloodthirsty nature of money, for institutional investors, the market goes up and down, they can make profits. So they don't need bitcoin to go up all the time, and for digital currencies that don't have a government endorsement, the challenges remain, and compliance issues remain unresolved. XRP has also received the SEC's case. With so many problems ahead, 2021 is not bound to be plain sailing.

From a technical perspective, after breaking $24,000, the next resistance level is around $31,800. But that doesn't necessarily mean it will go there. I think the market has gone up for too long, the bulls are making a lot of money and the pressure for a correction is growing. So without adequate adjustment, the purchasing power of the market is declining. If adjusted, there are two target levels, one is around $14,600, but the MA144-week moving average, currently around $8,000.

For 2021, I think do not expect too much. If the epidemic eases, the United States will not allow the dollar to depreciate. The dollar is bound to come back because of its excesses. In that case, it could be Bitcoin that gets hit. Of course, the epidemic is still very large from time to time, so we cannot judge the impact of this. So the rules of the trade are very important. Stick to the trading standard on the right and do not let your emotions take over your trading at any time.