Hello, fans and friends, welcome to the president's channel
Yesterday, Bitcoin stabilized again, and now it has basically formed a simple V-shaped reversal trend. The current price is still hovering around 61,800 points. What the president can tell you is that Bitcoin has successfully reached the MA30 support level and has completed the small support, so what will happen next? The downward trend is currently in a weak state, and it can no longer be smashed. So the next trend that the president can tell you is that it will basically open the upward channel. Then you can start to actively deploy high-quality altcoins and start to deploy medium and long-term contracts.
Now the president will take the brothers to look at the relatively valuable information from yesterday and today
Some analysts said that despite the bearish market, the second-layer expansion ecosystem of Ethereum is growing rapidly. He also pointed out that the L2 protocol and EVM expansion platform are rapidly gaining popularity, and Coinbase, Worldcoin and Immutable X have all launched EVM L2. He predicts that L2's transaction throughput will exceed Solana's by 100 times in the next five years. Currently, the total locked value of all L2 protocols is US$42.86 billion, and this value has remained stable since March despite the decline in the crypto market. The president is actually optimistic about this issue. The essence is actually very simple, because L2 has greatly reduced the operating costs on the chain. And the transaction processing speed is also extremely fast. In the president's opinion, Ethereum Layer 2 still has great potential, but the current valuations of OP and ARB are indeed too high.
Another piece of news that is worth your attention is that the U.S. Securities and Exchange Commission (SEC) recently said that it is expected to see the listing of spot Ethereum ETFs as early as September. Once the Ethereum spot is listed, a lot of old money and funds from the traditional market will begin to pour in. At this time, coupled with the Fed's Q3 interest rate cut, how will the market develop? How will it go? Is it more worthy of your expectations?
Regarding contracts: The president’s advice is still to wait a little longer, and buy after it drops a little more. Go long at low levels in the long term, and don’t make orders blindly in the short term. The precise position will be given in the community later.
For the altcoins: Brothers can consider ambush in the AI sector, meme coins, RWA track, and try not to touch the altcoin contracts. Spot must also be equipped with a stop loss. Pepe is currently making frequent moves. Brothers can consider buying some Pepe coins appropriately, and don't be too greedy, don't think about eating a fat man in one bite.
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