In the turbulent digital currency market, Bitcoin recently broke through the resistance of $39,000 with amazing momentum, showing a strong upward momentum, while at the same time, Dogecoin soared, with an increase of 36%. The similarities between these two digital currencies make people wonder how the future of digital currency will develop? Next, let's take a deep look at this hot topic.

 Bitcoin's strong breakthrough

Bitcoin has always been the leader in the digital currency market, and its price fluctuations have touched the hearts of investors around the world. Recently, Bitcoin has once again surprised investors, breaking through the resistance of $39,000 and showing a strong upward momentum. This breakthrough not only made the holders of the currency profitable, but also made the market focus on Bitcoin, the "digital gold".

The reason why Bitcoin can soar against the trend is inseparable from its own scarcity. As the first generation of digital currency, the total amount of Bitcoin is fixed at 21 million, and this scarcity makes it popular among investors. And with the continuous promotion of Bitcoin in commercial applications and financial markets, its attributes as a safe-haven asset have become increasingly prominent, attracting the attention of more traditional investors.

In the tide of the cryptocurrency market, the performance of Bitcoin has always attracted much attention. Its price fluctuations are not only affected by the macroeconomic situation, but also by investor sentiment and market enthusiasm. Therefore, for Bitcoin investment, in addition to understanding the fundamentals of the market, it is necessary to stay calm at all times and grasp the investment opportunities to make profits from price fluctuations.

 The rise of Dogecoin

The reason why Dogecoin can rise suddenly is inseparable from the activity of its community and its unique marketing strategy. The Dogecoin community has a large number of loyal fans who actively participate in social interactions to promote the dissemination and promotion of Dogecoin. The founding team behind Dogecoin has also continuously launched new marketing activities to attract more investors' attention, thereby driving up the price of Dogecoin.

The sudden rise of Dogecoin not only allows investors to see the vitality of the digital currency market, but also makes people realize that the world of digital currency is full of infinite possibilities. In this market full of variables, investors need to stay vigilant at all times, constantly learn and adjust their investment strategies, in order to remain invincible in the fierce competition.

 Future Outlook of Digital Currency

With the sudden rise of Bitcoin and Dogecoin, the pattern of the digital currency market is undergoing tremendous changes. Traditional financial institutions and investors have joined the carnival of digital currency, driving the price of digital currency to continue to rise. And with the continuous development and application of blockchain technology, the future of digital currency is full of possibilities.

In the world of digital currency, investors need to stay vigilant at all times, keep learning and exploring, in order to remain invincible in the fierce market competition. At the same time, regulators and government departments also need to increase supervision of the digital currency market, protect the legitimate rights and interests of investors, and promote the healthy development of the digital currency market.

In general, the strong breakthrough of Bitcoin and the sudden rise of Dogecoin have allowed people to see the infinite possibilities of the digital currency market. In this market full of variables, investors need to stay vigilant, keep learning and adjust their investment strategies, in order to stand out in the fierce competition. The future of digital currency is full of challenges and opportunities. Let us wait and see, and witness the brilliant future of the digital currency market together!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Bitcoin was hit hard by regulation in May, and the price of the currency was almost halved from its high point, dragging the overall cryptocurrency market to fluctuate and weaken. From a technical point of view, even in June, the upper resistance is still strong, and the market's upside seems to be quite limited.

According to Reuters, the US dollar has broken away from a nearly 5-month low against major currencies and was basically flat in volatile trading on Wednesday. The current investment market is still waiting for the US to release May employment data later this week to clarify the US economic recovery.

CoinMarketCap data shows that Bitcoin has risen by more than 4.49% in the past 24 hours, breaking through the $39,000 mark during the session, and reported at $38,859.22 before press time. However, Bitcoin has still fallen slightly by 0.43% in the past 7 days, and its current market value is about $727 billion, accounting for 41.5% of the market.

In terms of altcoins, Ethereum rose by more than 5.68% in the past 24 hours to $2,849.66; Binance Coin (BNB) rose by 10.24% to $416.71; and Polkadot (DOT) rose by 14.91% to $27.88.

Among them, the most eye-catching is Dogecoin (DOGE), which has set off market frenzy in the past few months. Data shows that after Coinbase
Pro announced the listing of Dogecoin, Dogecoin has soared by 35.96% in the past three days, climbing from $0.3 to around $0.42, and its market value has returned to $55 billion.

Mixed

Last month, the State Council set the tone to maintain high-pressure supervision of cryptocurrencies and issued a strict order to crack down on Bitcoin transactions and mining activities, causing Bitcoin to plummet by more than 35% in May, and the price of the currency was almost halved from the high of $64,800, which dealt a fatal blow to the cryptocurrency market that has continued to rise in recent months.

In June, the market news is still mixed.

Recently, JBS, the world's largest meat producer, was attacked by hackers and was blackmailed to pay cryptocurrency. The White House issued a statement on the 1st, saying that it would expand the tracking of cryptocurrency funds.

On the other hand, the U.S. Securities and Exchange Commission (SEC) announced that it would postpone WisdonTree's Bitcoin ETF application again, and the review and confirmation time is expected to be extended to July 14.

The good news is that since the bloodbath on May 19, whales seem to continue to increase their Bitcoin holdings. According to reports, Bitcoin whales added 77,000 Bitcoins in the week of May 19, and accumulated about 30,000 Bitcoins in the past week.

At the same time, the Reserve Bank of India, which had previously been rumored to restore the cryptocurrency ban, issued a statement at the end of May to instruct commercial banks not to cite the 2018 ban that has lost its effectiveness to reject customers, slightly offsetting the market's concerns about regulatory risks.

On-chain activity has dropped sharply

However, according to Arcane
Research data, Bitcoin's on-chain transaction activity is falling sharply, and the number of daily active addresses has fallen to the lowest level since November last year. In addition, according to historical data, current on-chain activity has shown a trend consistent with the market tops in 2017 and 2019, speculating that the cryptocurrency market may face further declines.

That said, according to an instant newsletter released by Swiss asset management company 21Shares on Tuesday, the market correction in May still performed slightly better than the two most significant bear market cycles in historical data in 2012 and 2018.

21Shares said that long-term investors, who account for more than 50% of the investor base, are facing a buying pressure, which may indicate that selling pressure will gradually subside this month.

Arcane Research also pointed out that the market should pay attention to the confidence trend above $40,000 and the selling pressure below $30,000.

Unlike Bitcoin, Dogecoin is a "joke coin" and its original intention was to entertain and socialize. However, the recent increase in Dogecoin has been as high as 36%, which has surprised people. The rise of Dogecoin has triggered heated discussions in the market and made people begin to re-examine this digital currency that was once considered just a "joke".