A week's overview of digital money markets

This week was the biggest faller since June 2019, with a weekly decline of 20 per cent, the second-biggest drop this year.
The market value of the crypto market has been largely lost, with a market capitalisation of less than $190bn, half the peak of $360bn. The halving of the Bitcoin reward has not come, and our market value has been halved.the xbt price reached $6,577, just $200 short of my original forecast of $6,380, which should be said to be very close.
So here, there's no reason to panic.
The market is not a one-sided market, so the rebound is imminent.

Top left, the Bitcoin daily chart, I gave the time-share chart the rebound path yesterday, you can refer to.
On the top right, excluding the market capitalisation of Bitcoin (i.e., the market value of altcoin), we see that altcoin is still falling very much, so in the long run, I think it's time to stay away from altcoin.
The bottom left is bnb, the largest "platform currency", also can not resist the market decline, so those who put "platform currency" as a stable currency investment friends, please note that they are not really "stabilized currency."
The bottom right is xrp, one of the largest altcoins, a cryptocurrency that can be owned without mining at all, which has long been controversial but has a market capitalisation of the top three. He represents the current trend of more than a billion dollars in market value of tokens, and is basically the "hard hit" of this adjustment.

The logic of this round of decline is due to the high pressure of the Chinese government, but I do not agree with it. I made an analysis in a recent article that I can look at.
What I want to say today is that the risks in the digital money market have been there from the start. Neither policy nor the deal itself has gone away. But over time, the market has been recognized by a growing number of mainstream institutions, including cFTC approval for CME and bakkt. I don't think the digital money market is as bad as some people say.
The main risk here is that exchanges, they are not subject to "centralized" regulation, but exercise the right to "centralization".

Exchanges should function as platforms for "trading", but they also have multiple identities: issuing currencies (platform coins), approving ico (they want to replace sec), and they are also investment banks (which assist in the issuance of icos) and the market's main investment institutions.
This is an unacceptable thing in a sovereign state.
So I think the U.S. is already very open, and if they think most exchanges are problematic, how do other countries accept it?

So at this stage, I think there are two risks in the digital money market: one is illegal ico, a lot of altcoin is "financial ponzi", and you can't use the law to recover your losses. The other is "exchange" and "third-party institutions". Now 90% of the exchange is "zombies", there is no turnover, they use fake brush volume, to deceive customers. And the exchange's set-up costs are very low, "scammers" can be closed at any time to open. Third-party platforms include wallets and intermediaries, none of whom have legal status, so if you have a financial dispute, you can't resolve it legally.

Summarize
If you think digital money is the future of the financial system, then you need to keep your tokens on hold, so you need to keep them in a safer place.
For this market, I think the degree of security, in turn, is: top exchanges(which refers not to the volume, but their market position, and their normative level) > Top wallets (preferably in the U.S.) >small exchanges> Chinese wallets > third-party platforms (let your coins trade through their platforms, Or provide you with financing services such as borrowing, pledge, etc.).

Overall, I personally suggest that the "head" exchange is the safest.
If you choose to coin , of course, Bitcoin, or tokens with a market value of more than a billion, in a highly speculative market.