Interpretation of cryptocurrency market on January 31st, 2023
Yesterday, there was a certain adjustment in the market. Since the end of the continuous rise on January 15, the market has been at a high level of oscillation. Only the recent rally has restored market popularity to some extent. Compared to the narrow oscillations that continued to occur at the end of the bear market, the fluctuations are much greater. Whether long or short, there are some short-term opportunities.
The market is unlikely to plunge, as analyzed in the previous article, and there is a chance that it will fall on February 2, but not so much that it will fall back to the bottom of the year. So in the long run, the pullback is still an opportunity to expand your long-term position. Especially after the current short-term single has been profitable out, the appropriate part of the short-term profits into a long-term position is feasible. The current price is only a short-term view at a high level.
But with the entire bull market space, the current position is still not high.
This afternoon BKEX will go live with the APT perpetual contract which is currently very hot. There are a few caveats: First, APT is a high-performance public chain with technical features similar to SOL, which uses data parallel processing to improve efficiency. However, the current on-chain ecology is relatively thin, and the recent surge in the hype is mostly composed of hype.
BKEX Research Institute has been optimistic about the investment value of the public chain track. Although ETH is relatively backward in performance, its user base accumulated through years of stable operation is hard to be surpassed by the later ones, and ETH can also adapt to the ever-expanding on-chain world through layer2 and future slicing technology. Therefore, the investment order of the public chain track is still ETH in the first place, followed by BNB, MATIC, and other first-tier public chain tokens, as well as OP and other second-tier expansion solutions. Then comes the new public chains like SOL and APT that appear as challengers.
The Institute's judgment on APT is consistent with SOL: the upper limit is high and the lower limit is just as low, making it unsuitable for the long term (or only allocating smaller positions). In contrast, using contracts to follow the market trend to chase orders for the short term is more appropriate.
The market is unlikely to plunge, as analyzed in the previous article, and there is a chance that it will fall on February 2, but not so much that it will fall back to the bottom of the year. So in the long run, the pullback is still an opportunity to expand your long-term position. Especially after the current short-term single has been profitable out, the appropriate part of the short-term profits into a long-term position is feasible. The current price is only a short-term view at a high level.
But with the entire bull market space, the current position is still not high.
This afternoon BKEX will go live with the APT perpetual contract which is currently very hot. There are a few caveats: First, APT is a high-performance public chain with technical features similar to SOL, which uses data parallel processing to improve efficiency. However, the current on-chain ecology is relatively thin, and the recent surge in the hype is mostly composed of hype.
BKEX Research Institute has been optimistic about the investment value of the public chain track. Although ETH is relatively backward in performance, its user base accumulated through years of stable operation is hard to be surpassed by the later ones, and ETH can also adapt to the ever-expanding on-chain world through layer2 and future slicing technology. Therefore, the investment order of the public chain track is still ETH in the first place, followed by BNB, MATIC, and other first-tier public chain tokens, as well as OP and other second-tier expansion solutions. Then comes the new public chains like SOL and APT that appear as challengers.
The Institute's judgment on APT is consistent with SOL: the upper limit is high and the lower limit is just as low, making it unsuitable for the long term (or only allocating smaller positions). In contrast, using contracts to follow the market trend to chase orders for the short term is more appropriate.