Something worse than A-shares is coming! Epic bad news in the cryptocurrency circle hits, Bitcoin plummets by $6,000, when will the turning point come?

Recently, A-shares have fallen one after another, and Hu Xijin's principal of more than 500,000 has also lost more than 90,000. I can't help but sigh. I am in the same situation as in the cryptocurrency circle!

In the past week, the decline of cryptocurrencies was even more severe than that of A-shares. In the past 24 hours, Bitcoin fell from $600 million to $54,000, a drop of more than 8%!

The current bad news is:

1) Mt.Gox incident

The mine that has been buried for 10 years finally exploded this year, and the compensation will continue until October, which means that it is difficult to see a big market before then, and it is difficult to rebound to $600 million.

2) The sale of Bitcoin by the German and US governments

Germany and the United States have recently sold off the Bitcoins confiscated from some illegal activities. This kind of zero-cost selling pressure can be said to be unscrupulous and must be disclosed and governed in an open and transparent manner.

3) Bitcoin ETF funds are flowing in slowly, or even out

Since June, funds in Bitcoin spot ETFs have been in a state of large outflows most of the time.

When will there be a turnaround?

First, we have to wait for the compensation of Mentougou to be completed, and secondly, we look forward to the Fed's interest rate cut in September. In addition, if Trump can be elected at the end of the year, it will also be a big positive.

I don't think the bull market is over. There is no problem with the fundamentals of Bitcoin. It is just a small "black swan" in the short term. But we can't be too optimistic and rush to buy the bottom. If we want to buy the bottom, we must set a certain decline and then DCA in batches.

The day after tomorrow is beautiful, but please don't fall tomorrow!

#德国政府转移比特币 #Mt.Gox将启动偿还计划 #美联储何时降息？ $BTC