How many leeks felt their world had collapsed when they woke up today?
How many people have found their positions are gone when they woke up?
Well, fans of the Shanzhai Season, now the golden pit of the Shanzhai Season has appeared. With such a large correction in a single day, shouldn’t you be excited to get on board and grab the chips? The correction you have been waiting for has come, and it has come back to pick you up!
But why are they all crying and shouting and making such a fuss?
But if you look at the drop in Bitcoin, it’s actually only a few points, and even Ethereum hasn’t dropped much, but the performance of the altcoins is as bad as if its mother had died.
According to news this morning, within 24 hours, 570,000 people in stock trading were liquidated, surpassing both the amount and number far beyond the 312 event.
Considering these two points, do you know what it means?
First, this is good news. The fact that larger-scale liquidations did not affect Bitcoin's strength shows that Bitcoin's consensus is still very strong, and the number of cryptocurrency holders has expanded many times compared to the 312 period.
They have a large amount of money and many people, but the pool is also deeper.
Secondly, this is still good news because those who were liquidated mainly fall into two categories: high leverage and altcoins. You can understand this as a cleansing of Bitcoin's non-believers.
After this wave of deleveraging, Bitcoin's upward channel will become healthier, just like a dog shaking off water after a bath.
There has always been an unspoken rule in the market:
Bitcoin rises sharply while Ethereum rises slightly; Ethereum rises slightly while altcoins do not rise.
Bitcoin drops slightly while Ethereum drops significantly; Ethereum drops significantly while altcoins plummet.
This principle is something experienced investors feel intuitively; today is no different:
Bitcoin is down about 3%, Ethereum 6%, leading altcoins 10%, and junk altcoins over 20%.
Based on the nature of altcoins not rising but falling, Juzi has never been very optimistic about the prospects of altcoins.
As stated multiple times in previous articles, there is no altcoin season, no altcoin season.
They even held a live broadcast explaining the logic of the altcoin season and specifically separated altcoins from Ethereum: don't mess with altcoins, but Ethereum can be played.
If you are not convinced, you can take a look at this article:
Bitcoin is hitting $100,000, can Ethereum still hold up? Will the altcoin season come again?
In the article above, Juzi explained clearly that there will be gains in altcoins, but that does not mean the altcoin season has arrived. The comprehensive rise of altcoins is gone forever; it may still work with hotspots, but can you guarantee that you will catch it every time?
And they set the tone for this altcoin season: just like the domestic real estate market in previous years.
Then take a look, after the so-called altcoin season arrives, which altcoins have broken their previous highs?
Juzi won't name names one by one, because there are simply no names to point out.
Basically, it’s all about a wave of rise, then a round of selling, with no possibility of breaking the previous highs.
Really, if you take a look at the cryptocurrencies that have been hot recently, you'll see that their K-line patterns are all quite similar.
The reason is simple to the point you can’t imagine—many altcoins are all using the same market maker, and their methods are naturally similar.
From their perspective, maximizing profits on each cryptocurrency is the primary goal; whether this cryptocurrency can rise is of no concern to them. Instead, they can repeatedly use their projects to create a sense that the altcoin season is coming.
Then the foolish investors still naively think the altcoin season is coming, swapping their USDT and Bitcoin for the altcoins they promote, only to find themselves trapped again.
Is it deserved for you?
Some time ago, someone even came to me and said that Shen Yu has already admitted defeat and recognized that the altcoin season has arrived.
Are you still not admitting defeat, Juzi? Hurry up and delete the article where you previously said the altcoin season was bearish!
I replied, what’s there to delete? It’s not like I can’t afford it.
Does deleting it mean I never said it?
Since I dared to say it, I won't delete it.
I must defend my viewpoint, even if the development of facts goes against expectations.
I can be wrong and I can lose, but I won't escape.
Of course, you can stubbornly say this is just a technical pullback, and the altcoin season will bounce back in a crazier way.
You can say that, but you can't influence my judgment and decisions. I won't adjust my position because of altcoin fluctuations.
After all, under the current mainstream narrative, funds are still flowing into Bitcoin, not into altcoins.
Recently, there have been significant events and market fluctuations in the industry. Juzi plans to hold a live broadcast at 4:30 PM today to have a good chat with everyone and can also answer some questions through a call-in format.
Welcome to make an appointment.
