A must-read for newbies in the cryptocurrency circle: Recent market fluctuations revealed! Why did Bitcoin and cryptocurrencies fall in the past two days?
Dear newbie friends, you may have seen the price of Bitcoin and other cryptocurrencies fall recently, and you must be a little panicked, right? Don't worry, I'll explain the reason to you.
First of all, a large company called Grayscale withdrew the ETF (an investment tool) related to Ethereum futures, which was like throwing a big stone in the market and caused quite a stir. In addition, the U.S. House of Representatives voted to overturn the rules of the SEC (U.S. Securities and Exchange Commission), so that financial companies that could hold BTC and cryptocurrencies can no longer buy them casually. These two things combined are like adding two tight hoops to the market, and prices naturally fall.
Is it a good time to buy now?
Seeing the price drop, many newbie friends may be wondering: Is it a good time to buy now? Let me tell you some good news. The range of 57,000 to 60,000 for Bitcoin and the range of 2,950 to 2,859 for Ethereum are both considered "low-absorption ranges." That is to say, if you buy now, there is a high possibility that it will rebound quickly in the future.
So, this month you can consider fixed investment (that is, regular purchase), just like fully loaded with bullets, hold the chips, control the position, and then patiently wait for the market to take off!
What do Wall Street bigwigs think of the future of Bitcoin?
Speaking of the future, Wall Street bigwigs are very optimistic about Bitcoin. They even heavily invested in 5 billion call options, predicting that the price of Bitcoin will rise to 100,000 US dollars in September! And, do you know? The US election will be held on November 5th.
According to past experience, the cryptocurrency market will usher in a wave of positive news three months before each election, and the price will gradually rise. Especially in the presidential election year, the three months from June to August are the second strongest period of cryptocurrency in a year. So, for novice friends, entering the market now may catch up with this big market!
If you feel helpless, confused, and can't see the direction in trading at the moment, you can come to my village to have a look, nod like Kan Jianjie, and the conditions are real players,