Breaking news! Solana upgrade delayed, Ethereum Prague upgrade also encountered major changes, what happened?
Bitcoin plummets? Don’t misjudge it! You will understand everything after reading these two key data!
A major opportunity has emerged in the cryptocurrency circle. This coin is at a value trough and is about to skyrocket!
It’s a matter of life and death. The most important inflation data of this month is about to be released. Will it be good news or bad news this time? Let’s follow Shuqin to find out.
First of all, the question that everyone is most concerned about is, Bitcoin has encountered a 10 billion selling pressure in Mentougou, is the cryptocurrency market going to bearish again? Should we take profits or add positions now?
This question is actually very simple. This important indicator can clearly tell you the answer. It is the Nasdaq index that is closely related to the rise and fall of Bitcoin.
Believe it or not, the rise and fall of the cryptocurrency market always has reasons, and is highly linked to the U.S. stock market. This is especially true in this cycle, with the similarity between the two trends being as high as nearly 70%.
Now that the Nasdaq has completely broken through its all-time high, and it is a real breakthrough, Bitcoin is very motivated to follow suit. After all, the main market makers in the cryptocurrency circle are the same as those in the U.S. stock market, which are all Wall Street.
Therefore, if the U.S. stock market breaks through, Bitcoin as one of the sectors will have a strong motivation to make up for the losses. As long as you compare their trends over the past three to four years, you will find that this is a high-probability event. Therefore, any current pullback is only temporary, and this is actually an opportunity for you to cover your position.
Compared to Bitcoin, Ethereum and its ecological currency will have more exposure in the next two months, because Wall Street will definitely release multiple positive news in a few days, such as the announcement of the S1 form submission of major institutions and the release of ETFs that will be listed on the New York Stock Exchange and Nasdaq at a certain time. These will strongly stimulate the rise of Ethereum.
You can actually think of the official launch of ETF as the Cancun or Shanghai upgrade of Ethereum, which is to put a favorable date first, and then the price of the currency will continue to rise before that. For example, during the Cancun upgrade in February and March, Ethereum continued to fluctuate upward from 2,200 to more than 4,000, nearly doubling, and small coins such as OP and IMX rose several times. At that time, the friends who followed Shuqin in the layout made a lot of money.
Therefore, this time Ethereum and its related ecological tokens are likely to repeat the doubling feat of Cancun or Shanghai upgrades, so we would rather believe it than not. Instead of ambushing other small coins whose rise and fall are unclear, it is better to buy Op, EtheriFi, SSV and Pendle on dips. After all, the on-chain transaction volumes of Ethereum and major Layer 2s are soaring.
As for Pepe Shuqin, I will no longer recommend it, because it has risen too much recently, and the risk of chasing high is very high. Those who have already ambushed with me before can hold on to it, and those who have not got on board can see whether it has a larger correction, because it is very common for Dogecoin to plunge or even collapse.
Compared to Pepe who has already exploded, Shuqin thinks OP is more worthy of our attention. His recent weakness is due to unlocking.
But if you look at this carefully, only 2% is unlocked, not 70% like PYTH, so the actual impact is limited, which gives you the opportunity to get on board at a low price. After 3 days, it will be unlocked and a large number of shorts will be covered. OP is expected to reverse the current decline. After all, it is the only one in the Ethereum ecosystem that has not started to rise, but there is still a lot of room for catch-up, so you can take a small position to try. Pendle and EtherFi, which we have called many times before, have risen too much, so you can wait for a callback to enter the market.
In fact, judging from the K-line, it is expected to get out of this consolidation range. You can go long at the lower edge of the trend line, and you can stop profit at 3u. Both are acceptable.
In addition, there is important news about Ethereum's Prague upgrade, which is that it will be divided into two upgrades and will be completed at the beginning of next year. The first upgrade will most likely be in the third or fourth quarter of this year. I think Ethereum will usher in an increase of more than 50% by then.
However, there are rumors that the second upgrade will have a separate version number, called the Osaka upgrade, so the Prague upgrade will be in the second half of this year, and the Osaka upgrade will be in the beginning of next year. There are many different opinions on this, but no matter what, there will definitely be a big upgrade this year. Looking back at history, the increase in each upgrade is 50% to 100%, which is amazing.
Besides Ethereum, what new news has Solana had recently? First of all, it suddenly postponed its 1.18 upgrade, which will be completed on June 10. It is currently in a state where all the good news has been exhausted and it is being sucked dry by Ethereum. After all, retail investors have limited money, and now all the hot money is going to the Ethereum ecosystem.
If you look at the transaction volume of Ethereum and its Layer 2, both are growing explosively. Many people who play local dogs have run from Solana to the Base chain. Its expansion network alone can reach half of Solana’s transaction volume, so the current sector rotation is really obvious.
When will the next good news for Sol come? It will be the annual Solana Conference, which will be held on September 20 this year. The timing is perfect. We can first work on the Ethereum sector for two months, and then prepare for the Solana ecosystem in August. It is a seamless transition.
During this month, Sol has risen from 120 to a maximum of 189, an increase of 60%. As a mainstream currency, Shuqin is very satisfied with this increase. The small coin Ondo has also risen from 0.7 to 1.35, nearly doubling. As for the short-term WIF, we also reminded it in time to break through when it was at 3u, and now it has skyrocketed by 20%!
So those who are interested in the operations can really come and take a look. Benqin is updating these operations every day.
Okay, let’s continue.
The biggest focus of the market this week has arrived. The direction of this event will completely influence the current trend of the cryptocurrency circle. It is the key inflation data PCE this Friday. This data is the inflation indicator that the Federal Reserve is most concerned about, even more than CPI.
The previous value of PCE this time was 2.7%, and the market expectation was also 2.7%. The same is true for core PCE, and the expectation remains unchanged, so if this kind of data, which is neither up nor down, is unexpected, its volatility will be huge. However, the CPI on the 15th of this month was positive beyond expectations, so the probability of PCE being positive this time is also quite high. Shuqin is really looking forward to it.
The chief of Goldman Sachs also said before that as long as inflation can fall two or three times in a row, the Federal Reserve may even cut interest rates in advance at the end of July, so every subsequent inflation data will be crucial.
But no matter what, the bull market in the cryptocurrency circle will soon begin. After all, hot money USDT is still pouring into the cryptocurrency circle without any signs of decline. This forms a divergence with the current weak currency price, which is very similar to the divergence at the beginning of this year.
And then everyone saw that Bitcoin just took off, so it should be the same this time. The pullback is only temporary. Everyone must not fall on the eve of a big bull market!
Finally, don’t forget to like and follow us, let’s achieve financial freedom together in this bull market, okay!
