June 15, 2024 Grandpa checks in
Last night, the price of Bitcoin fell to around 65,000, and Ethereum fell to 3,360, triggering a collective plunge in altcoins, and a large number of long positions were blown up. From the daily K-line level, many altcoins have fallen to near the low point of April 13. In theory, this price has strong support. In the past two months, the market trend of a few mainstream assets, led by Bitcoin, has formed a sharp contrast with the market trend of most altcoins. The exchange rate of altcoins has generally fallen by more than 30%. Looking back, I was right to think that the market was overheated in March. After all, the selling of altcoins is basically to escape the top.
If we interpret the market sentiment, the market in the past few months cannot be called Fomo, but every rise in the market is a sector rotation, which highlights the fundamentals that the funds in the circle are not enough to welcome the super bull market. With the repeated fluctuations in prices, especially the fact that the copycat high-level takeovers are facing a halving, some people have begun to doubt whether there will be a bull market in the future. I can tell you for sure that there will be a big bull market, and the time node may be next year, coupled with the Fed's interest rate cut, the time is about the same.
In fact, I have always felt that we should not pay too much attention to transactions in the crypto market. What is a transaction? I divide making money in this circle into three categories. The first type of transaction is mainly to judge the price to buy low and sell high, whether it is spot or contract, but in fact most people lose money. The second type is to hoard coins, combine cycles for long-term allocation, or ignore price fluctuations and make fixed investments. This set of making money in the B circle is actually quite easy and can make a lot of money, but because it takes too long, few people are willing to wait. The third type is arbitrage, such as new listings, strategic trading, or airdrops can be barely classified into this category. The risk of making money through arbitrage is relatively small (except for leverage), but the income is generally not exaggerated and is easily overlooked by retail investors.
Everyone can have their own specific classification methods, and they are different even when they are divided into a small category. The core is to find a way to make money that you are good at. After all, everyone's abilities and cognition are different. Of course, trading is the easiest operation. Basically, everyone starts with trading. I just want to say that when your cognition gradually improves, you can try different methods and find the most suitable one for yourself. This process may not be so smooth, but the final profit must be higher than a single transaction.
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