There is no need to over-interpret Mentougou. First of all, BTC and BCH are distributed to creditors, not sold in a centralized manner. This is why I said yesterday that the front line of selling pressure will be extended.
Yesterday, I said that it is impossible to judge whether it can bear the selling pressure. The reasons are as follows: First of all, the ETH ETF on the market funding side is just around the corner, and then there is a high probability that interest rates will be cut in September! This can be used as a reference for the funding side.
Then these creditors have more or less given up this money. After all, Mentougou pays several times a year. The story of the wolf coming is told too much and people don’t believe it. They have already given up and will really pay. They will feel that this is a windfall and there may be a selling flow.
In fact, some brothers will think when they see this, you have been talking for a long time and have not given a clear direction. To be honest, I can’t tell you with certainty what direction this incident will develop in. Everything has to wait until the distribution is completed to see the market selling situation!
As I said, if there is uncertainty, just don't use leverage, but I can tell you that even if there is a selling frenzy, it is only a short-term darkness. The bull market is far from over. I hope that this shoe will land as soon as possible, so there will be no major negative impact.
If you can't find the direction in the currency circle and don't know what currency to buy, find me on Zuye Brief and share more information and strategies related to the currency circle for free.