To The Moon

Hey guys long time no see.

There has pasted 1 month from the conflict between Ukraine&Russia, I am keeping watching the trend of cryptocurrencies still. I do believe someone had earned a lot from the big shock, don’t you?🤣

For news these days, ProShares, an asset manager, filed a filing with the SEC on Tuesday to launch an ETF to short bitcoin futures. ProShares' proposed ProShares Short Bitcoin Strategy ETF will track the inverse performance of the CME Bitcoin futures index, according to a filing with the SEC.$ProShares Bitcoin Strategy ETF(BITO)$

If approved by regulators, the ETF would be the first U.S.-traded ETF to short bitcoin futures.

Now let's see the market change:

Late 2021, BTC rushed over $60,000, almost bring the whole market to the peak, then started go into the bear market. Accompanied by shocking economy, political restriction and international conflict, BTC price keeps high and volatile.

In short, the price is near the support level and will be rebounce very soon, the trend is not clear but I still believe there is a large probability that it will go upward.

From long prospect, in the next few months BTC will still keep high with shocking. People always say don’t be afraid of down trend but static, whether go down or up, that means there are transactions. But the FOMC decided to raise the target range for the federal funds rate by 25 basis points to 0.25% to 0.50%, according to the statement. And the FOMC is expected to begin reducing its holdings of Treasuries, agency debt and agency MBS, which means in the long run, people might be guided to transfer their treasure in stable assets from high-risk assets, cryptocurrencies were thought to be influence at first.

By the way, the security is also a crucial problem right now.

As publishment said, blockchain technology is now the securest technology, however, we still can see cryptocurrencies be stolen. One of the most famous news is Jay Chou’s NFT(non-fungible token), which is worth about $500 thousand, was stolen a week ago.

Before this, on February 1, 2022, stolen Bitfinex bitcoins were transferred to an unknown wallet and after 23 transactions. The funds, worth $540 million at the time of transfer, are suspected to be associated with the Cryptsy theft.

Is blockchain really safe? 🙄

At last

Before 2022, most of my friends invested in BTC according to the belief in decentralization, but with more and more people joining, especially some tycoons like Facebook$Meta Platforms, Inc.(FB)$ , Apple$Apple(AAPL)$  start to build metaverse, which is also based on blockchain technology, their belief changed to chasing speculation.

What I want to say is, never follow what most people do. It’s really dangerous if you invest without a basic understanding. Especially in crypto market, it is nearly a zero-sum game, information gap will always lead to a slaughter.

So, do you think cryptocurrency is a good investment?

Will you choose to invest in it in the future?

What do you think is the target price of BTC?

Pls leave your comment below!