Recently, many friends have said that they will not play copycat games anymore and are planning to quit the cryptocurrency circle. What I want to say is that the recent market fluctuations are very similar to the bull market in 2020. Not many people can withstand the fluctuations. If you can't even withstand this fluctuation, you might as well wait for a rebound and deposit your money in the bank to earn interest or exchange it for BTC. The 80/20 rule applies to any industry at any time. Only when 80% of people give up resistance can 20% of people enjoy the dividends.
From the current perspective, although the altcoins have experienced a sharp correction, they are still in the bull market stage overall. We need to continue to move forward firmly, keep our original aspirations, and firmly believe in digital currencies. Although the recent market makes us pessimistic, this plunge is not a bad thing for the market, and this adjustment will prolong the bull market. If you want to prolong the bull market, the best way is to increase the price several times, so that investors in the market will be completely desperate in the form of a sharp rise and fall. Only when most people hand over their bloody chips can funds gather again to promote a new round of increases.
The altcoin contracts were completely wiped out, and many retail investors lost everything. Their chips have flowed into the hands of market makers. The most important thing in a bull market is how many chips you have and whether you can survive extreme market conditions. If you are unlucky enough to be liquidated, the subsequent prosperity will have nothing to do with you. The more chips market makers have, the closer the bottom will be. When capital controls the majority of chips again, the market will have a foundation for strength. Therefore, this round of altcoin bloodbath is excellent news for all surviving investors. I hope everyone will not fall on the road to the bull market. Finally, I say, "Let the storm come harder."
Market analysis:
BTC：
The rebound of Bitcoin near 645 is in line with expectations. Last year and this year, the main force has been working on the MA120K line, which will not break in the short term. Today, we will observe whether the rebound can break through 662. If it cannot break through effectively, it will continue to drop to around 620.
ETH：
Today, we will follow the rebound of Bitcoin and observe whether it can break through 3650. If it breaks through effectively, the trend will change;
Altcoins:
There is nothing much to say about the copycat stocks. The average decline has reached more than 2 times and is in an oversold state. This is what a bear market is like. If you run away at this time, it means that the market maker has achieved its goal of killing the market. Before a big market starts, the investors will be terrified and will not want to look at their accounts for at least a few months. Now more than 95% of the copycat stock holders in the market are in a loss-making state, so they can only wait.
