It was just light in the morning when I opened my phone and saw that the index was about to fall below the previous low of 54,000. The two days of hard-earned rebound was gone. There was no way this was going to work. I was really scared.
Bitcoin miners have surrendered, and today I, Lao Tang, as the most persistent bull on Binance Square, have also surrendered! I admit that I was wrong. In fact, the bull market peaked in March this year, and now it is indeed a bear market.
Is 55,000 high now? It shouldn’t be high, but don’t forget that the last bull market started from this position and slowly fell below 5, 4, and 3. It fell to an incredible level, to an unbelievable level. People around me started saying the same things as last time, saying that it’s not easy to fall below 4 this year, and it’s impossible to fall below 3. If it falls below 3, the overall structure of Bitcoin will be broken. It sounds like going back to the past.
Actually, why is it impossible for the stock price to drop to 3? Now many people say that if the stock price drops to 4, everyone will buy the dip. I remember everyone said the same thing last time, but the more it drops, the fewer people dare to buy the dip. Do you remember those people who said they would sell their houses and go all in if the stock price drops below 56,000 a few days ago? They seem to have disappeared too.
Be pessimistic, admit defeat when you should, don't add margin, if it really drops to 3, even if you have 1x leverage, it will crush you, not to mention if it is a copycat. Whatever you have left, save it and calm down first.
It is obvious that the market is manipulated. Several dealers hold a large proportion of low-cost circulating bitcoins. If they smash 10,000 BTC, the price will drop by 10,000 points. The dealers only need to open short orders and then smash some BTC. Then, they can publish some panic-making articles through several media and big Vs to make steady profits. The current historical high price of 50,000 or 60,000 is enough for them to smash the market for a while. Don't even think about making money by shorting. If you open a short position, you will be hit, because they only need to buy a few thousand and then publish some bullish analysis and news to make another profit by shorting.
In this manipulated market, retail investors can only be harvested and have no power to resist. If retail investors want to make money, they can only wait for a certain trend of unilateral bull market. This can only happen when the Americans cut interest rates, which seems to be a long way off now. The Americans and Germans are reluctant to magnify the positive news without harvesting the bloody chips. As for the Ethereum ETF, I feel that it is not enough to reverse the current decline. If it is launched, it will at most rebound in the short term and become a small drama to lure more investors.
Poor me, another three years of hard work have been in vain. The little capital I accumulated by working hard from dawn to dusk has been lost again. Looking back, I fell in the same place again, the same place where I have fallen countless times, that is, when things were going well, I forgot the danger, forgot to respect the market, forgot to stick to the established strategy, was afraid of missing out on the bull market, afraid of missing out, and was eager to take a chance to turn things around. As a result, I stepped into the same mud pond again and could never climb out. Therefore, the most convenient time is indeed the most dangerous time. If I had stopped profit in time when the altcoin market was booming in March, and took out the money to calm down, the result would be really different. It's a pity that there is no if in life, only regrets. Brothers, take it as a warning.
