The first signal is a change in the amount of Bitcoin in the exchange.
After two months of selling pressure in Germany and Mt. Gox, the amount of Bitcoin on exchanges has begun to decrease again, indicating that this rise is indeed driven by demand and that big players are actively buying at the bottom.
Just look at the current situation of Bitcoin ETF. In the past two weeks of trading days, there was only one day of capital outflow, and the remaining 9 days were capital inflows.
But looking back at Bitcoin's daily chart, in these 10 trading days, Bitcoin closed higher on 6 days and lower on 4 days.
The current situation is that Wall Street is quietly buying and hoarding coins, while retail investors are like headless flies, chasing ups and downs, without any sense of direction. This also explains why institutions can achieve a scale of hundreds of billions or trillions.
At present, Bitcoin has fallen back to the neckline of 62,000, which is a classic breakout and fallback. I think it is a wise choice to add one more hand here.
As we all know, the recent rise was driven by Powell’s announcement of a rate cut in September. But the question is, will the price of the currency definitely rise after the rate cut?
Let's be honest. The initial direct impact of the interest rate cut on the market is actually limited, but it will greatly affect investors' expectations of the rise in the price of the currency, causing the price of the currency to rise. People will think that with the arrival of the release of money, Bitcoin will soar in the future, so is it time to buy some now? So the buying increased accordingly.
Therefore, the initial impact of the interest rate cut on the currency price may not be significant, but it will prompt smart money to enter the market in advance. As interest rates continue to fall in the next few months, the effect of this interest rate cut will gradually become apparent.
Don't underestimate the impact of interest rates on the market. Now the inflation rate of the US stock market has dropped from 9.1% to 2.9%, all thanks to interest rate suppression. Similarly, when the money was released in 2020, the interest rate was reduced to 0%. People found that there was no interest on money deposited in the bank. Who would be willing to deposit it? Everyone took it out for consumption or investment.
The interest rate on loans is almost zero, and various leverages are used, which has caused Bitcoin to soar from US$4,000 to more than US$60,000. This is all the influence of the Federal Reserve.
Therefore, the price of Bitcoin will definitely take off next year, but it may experience considerable fluctuations and market shakeouts in the middle. We should be patient enough, and by next year, our assets can at least triple or quadruple.
Holding some small coins may allow you to earn more than 10 times the profit!
Another big news in the cryptocurrency circle recently is that Kennedy Jr. withdrew from the election and called on supporters to vote for Trump. This suddenly made Trump's chances of winning soar, and now his support rate is evenly matched with Harris.
As the debate on September 10 approaches, People has a chance to climb again. Friends who haven't bought in yet can wait patiently for a pullback, but remember to take profits on the day of the debate, because by then the good news will be exhausted and the stock may start to fall.
In addition, Pepe is also expected to shine in the bull market. Once this coin starts to gain momentum, the increase may easily reach 50% or even more.
The on-chain data has also undergone tremendous changes recently. In addition to the previously mentioned Avalanche and Justin Sun’s Tron, the transaction volume of Binance Chain BSC has skyrocketed by 50% in recent days, surpassing Solana many times, and its performance is extremely strong.
In particular, Binance Chain has launched a mining activity to earn coins again after two months, and each mining activity can drive the price of coins to rise sharply. In addition, Zhao Changpeng is expected to return strongly at the end of September, and BNB is likely to soar in late September.
The ideal time to enter the market may be a few days after the end of Ton mining next Wednesday. There may be a short pullback at that time, which will be an excellent opportunity to get on board, because there will be new coin mining and the return of Zhao Changpeng. The resurgence of BSC's trading volume will also boost BNB's performance.
In addition, the US PCE price index released at 8:30 pm this Friday is also worth paying attention to. This time, both PCE and core PCE are expected to be 0.1% higher than the previous value, which is a bit abnormal. If inflation rebounds, the Fed's interest rate cut may not be that large.
However, I think it is more likely that the data will be lower than expected this time. After all, interest rates are currently high and the job market is continuing to cool down. There seems to be little reason for inflation to recur.
But if there are any surprises in the data, it is likely to be the impact of the recent rebound in oil prices, so this data on Friday must be closely watched.
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