As for the current weekly chart of Bitcoin, those who are still holding on must not rely on any support, but on the belief in the halving cycle.

After the last round of the 3.12 plunge, the market was in a mess, and all the contract leverages were liquidated. Why all? Because on 3.12, after the 50% pin exploded the longs, many shorts could not resist the temptation and turned around to join the long leverage to buy the bottom. As a result, there was another 50% 3.13 pin to 3,800 dollars. No matter how many times you have leverage, all will be liquidated, leaving no one.

At that time, it was much worse than it is now. The cottage fell to dregs. In addition, countries had no experience in dealing with the new crown. Governments were at a loss. A large number of people died of the new crown every day around the world. Fear spread, and there was no hope at all.

But who would have thought that only one year later, Bitcoin rose from 3,800 to 64,800, and many cottages rose dozens of times or even hundreds of times from the lowest point, and the worst ones rose by more than 10 times.

Of course, we don't expect it to be as spectacular as in 2021, but this little drizzle at the beginning of this year is not worthy of carrying shoes for 2021.

In the first half of 2024, the meme coin sector has a far-leading increase, with an average increase of about 18 times. On the contrary, L2, which has the "best" technology and ecology, performed the worst. In the atmosphere of "a bull market", the decline exceeded 40%! It's outrageous. The reason is relatively simple. The meme coin is fully circulated, with a small market value, and is easy to hype; while the projects incubated by institutions generally have a high market value and a large circulation volume. The ban is continuously lifted, and funds are unwilling to speculate.

I personally think that before the emergence of a big ecosystem in the future, the core strategy is to hold on to BTC. Fixed investment is the simplest. As for other currencies, the speculative nature will become very heavy. Every time the market hotspot comes, you should withdraw quickly after speculating on a concept. You can’t linger.

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