BTC
The cryptocurrency market over the weekend can be described in four words - stable with a slight decline. Of course, judging from the daytime performance on Monday, the price showed a trend of falling first and then rising, but the overall price change was relatively small, and there was not much room for operation. The decline on Monday that we were worried about before has not yet manifested itself, but we actually need to wait until after Christmas or the end of December before we can relax our vigilance.
The corresponding trend can also be seen from the K-line. After a wave of declines, BTC hit the middle track of BOLL on Friday night and then fell back. However, this time the decline was along the middle track, rather than falling quickly to the lower track. From the performance point of view, today the price rebounded after touching the lower track, and the downward trend turned into a volatile market. In other words, it is possible that it will fluctuate in the range of 93,000-97,000 until it effectively breaks through 97,000 again or falls below 93,000, and enters the next trend.
Currently, we don't have much operational space. If investors hold sufficient stablecoins, they can consider dollar-cost averaging to buy the dip in the spot market. Of course, high-leverage investors should prioritize reducing leverage or switching to spot to ensure they can smoothly get through this month. Buying is appropriate below 93000.
ETH
From the K-line perspective, ETH's technical indicators are similar to BTC. Today, the price touched the lower Bollinger Band and rebounded to the middle band. Currently, as long as it holds the middle band, which is 3350, it can once again surge to 3500. If it doesn't hold, it may drop to the 3150 position. We can consider making appropriate arrangements in the 3200-3100 range. If it breaks below 3150-3050, we need to pay attention to the possibility of further declines and take appropriate stop-loss measures.
Binance Launchpool BIO Protocol
1. The Binance exchange has newly launched the Launchpool project BIO. The official introduction to the project may be unclear to some people, so I will briefly introduce it here. In simple terms, BIO is a decentralized scientific research funding DAO project and liquidity protocol. Its main purpose is to establish some sub-DAOs to conduct relevant scientific research, such as the development of biopharmaceuticals and longevity drugs, as mentioned on the official website.
I personally believe that this DAO may not effectively organize scientists or researchers to do these things, but rather engage in funding through the DAO form to obtain corresponding shares similar to equity. The holders of BIO tokens then indirectly gain benefits from the research results, which in turn affects the price of BIO, causing it to rise, etc. (Although this differs somewhat from some articles online, this is just my personal opinion).
The benefit of the project is that it indeed has practical applications and promotes social development; it is an innovation. At the same time, this method is a very novel way of financing through blockchain. DAOs appeared as early as 2015, but the gameplay has gradually developed in recent years, which is beneficial for on-chain activity.
But we also need to understand that scientific research is not about writing code or manufacturing products; it has a long cycle, many influencing factors, and a particularly high failure rate, comparable to the failure rate of ICOs.
Of course, in a bull market, many people speculate on tokens; as long as there is a story, there will be buyers in the market. The characteristic of BIO is that it has high risks but also high rewards, because most research, even with a little innovation, will attract capital attention and yield substantial returns if successful in its niche. Therefore, BIO is more suitable for long-term holders. Of course, if speculating during a bull market, there are also many stories to tell. Participants can consider obtaining tokens through Launchpool and not rush to sell, as there may be good returns.
