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A 3-fold increase in two weeks?! My friends, the cryptocurrency sector is about to rebound, and there are many major positive news coming, so hurry up and ambush!
Oh my god, Solana ETF passed in this country! And Wall Street's 12 billion buy orders are about to be injected into the market!
Watch out! Powell’s August speech is coming soon. Will the cryptocurrency market crash again this time? Let’s follow Shuqin to find out.
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First of all, the cryptocurrency sector is likely to come back to life.
The CEO of OpenAI recently secretly posted a picture of AI strawberries on social media, which sparked heated discussions because he usually does not post this type of posts, and even rarely posts pictures.
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There have been a lot of revelations before, which indirectly prove that the name of their new model is Strawberry, so many media speculate that OpenAI is likely to release Chat GPT 4.5 or even 5.0.
The current version of GPT4.0 has been out for two years, and the release of the next version is urgent. In addition, there are many rumors about OpenAI's summer conference, so it can be said that the next version iteration will be released at any time.
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For example, when he released the large video model Sora at the beginning of this year, AI coins such as Fet and Render skyrocketed by 5 times in two weeks, which was very exaggerated.
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And now, they are plummeting along with the market and are absolutely no longer in demand. I think it is possible to allocate some of them.
Like him and Render last year, they also experienced a 70% pullback and a long period of reshuffle after the surge, but as we all saw later, once OpenAI released new products, they would immediately soar again.
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In addition, AI chip leader Nvidia will also release its financial report on the 28th, which will also have a significant incentive effect on the AI sector. However, it is still early before the 28th, and we have plenty of time to build positions on dips.
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In addition, Solana, which is currently in its heyday, has received another huge wave of good news. Its ETF has been approved by the Brazilian Securities and Exchange Commission, and it has its first ETF of its own. At the same time, this has rekindled the market's expectations for US ETFs.
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As we have reported before, the U.S. Securities and Exchange Commission deleted the description of Solana as a security. I believe everyone knows what this means.
Wall Street giants Vanda and 21 Shares have also submitted applications for Sol's spot ETF, so I think there will be a lot of room for hype in the next few months. For example, BlackRock or Franklin will also submit applications for Sol's ETF, which will directly send Solana to the sky.
I will not repeat the data, but it is almost 50-50 with Ethereum.
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I have always been a fan of this coin, including its ecological tokens JTO, Ray and WIF, which have performed quite well. Congratulations to those who have bought the dip with me before.
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Eh? But did you see the data just now? Ethereum transaction volume actually started to grow significantly this week, and Ton’s on-chain data was even more exaggerated, soaring 163% from last week, so you can also pay attention to these two coins.
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In addition, there are a lot of good news in the market now. The first is that the cryptocurrency circle is about to usher in tens of billions of funds. The repayment of FTX, which has been in a tug-of-war for 20 months, is finally confirmed, and it will pay 12.7 billion US dollars to creditors. This is more than the selling pressure in Germany and Mentougou combined.
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So much money will flow into the market in October, and Bitcoin is likely to break through the previous high of 75,000 and start a real bull market. In fact, there is no need to wait until October. I think it will start to rise in September, so everyone must complete the position in August, and don’t wait until the price rises later before entering the market, otherwise your profit will be much smaller.
I think there is a good chance that Bitcoin will fluctuate and rise to around 69,000 in the next two to three weeks, because we have seen this scenario too many times.
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Each time it falls slightly to a new low, and then goes back up. This has happened three times. I think there shouldn't be too many surprises this time, so any pullback is an opportunity for you to cover your position. The current strong support is 58,000. Of course, you can also add some spot coins around the 60,000 integer mark.
Last night’s unemployment data was also better than expected, sweeping away the shadow of the Great Depression. Bitcoin continued to rise to 63,000, which is the real reason for the big rebound.
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I talked about this data in the last episode. No matter what the real situation is, the Department of Labor will most likely "optimize" it. Everything will be prioritized with the election. It turns out to be a big benefit.
So whether it is the cryptocurrency circle or the U.S. stock market, we are never fighting alone, because the current Wall Street and the U.S. government are vested interests, they also want to make money or get votes, so don’t be afraid that the bull market will not come, as long as you can hold on to the currency, there is no way you won’t make money.
Therefore, there is only one type of people who lose money in the cryptocurrency circle, and that is those who cannot hold on to their coins. They are scared to sell their coins when the price drops, and then chase higher prices when the price rises. It is really hard for even gods to save such people.
And Ton, which Benqin had been waiting for a long time, is finally listed on Binance, which is really a cause for celebration. I was saying, if the little brother Not is listed, how can the big brother Ton not be listed?
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Those who followed early all had double-digit returns, and I asked everyone to take profits at the high point of 6.6. And this week's unemployment data was also released by Shuqin at 8:30 a.m., which was a super good news, allowing everyone to ride this roller coaster.
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At that time, the price of Bitcoin was still 57,000, and then it rose all the way to 63,000. I also made a special analysis yesterday that as long as it breaks through the previous high of 58,000, it will be a strong signal to go long.
So whether it is market hot spots or on-chain data, Shuqin updates it in real time every day, so if you want to follow, you can come and have a look~
Okay, let’s continue. Another big event in the cryptocurrency world is the global central bank’s annual meeting on August 22, where Federal Reserve Chairman Powell will attend and give a speech.
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Wall Street believes that there is a high probability that he will release a signal of a rate cut on that day, paving the way for the first rate cut in four years, and the probability of a positive outcome is quite high.
However, there is one thing everyone should pay attention to. In the latest average value of 107 research institutions today, August 9, Harris's approval rating began to surpass Trump.
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It is currently leading by 0.4%, sweeping away the gloom of the Biden era, so this election is really worrying, and it is still unknown who will win.
But on the other hand, Trump’s second son Eric Trump publicly supported the cryptocurrency circle, saying that he fell in love with cryptocurrency and that there would be major announcements.
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Look, his son has entered the encryption field in this way, so it can be seen that Chuan Bao’s statement that he likes Bitcoin is really not just talk, so if he wins in the end, the currency circle will be really big!
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Finally, don’t forget to follow us. See you next time~