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.
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