No way, the current market is really tormenting, what should we do?

Good morning, brothers. Although the number of people receiving unemployment benefits increased last night, BTC still showed a correction trend.

After thinking about it, the core reason is that the positives cannot outweigh the negatives.

There are several negative factors at present.

(1) The Mentougou issue is still unresolved, and big funds are worried about affecting early withdrawal.

October is the final compensation time. Once the compensation is paid, it will bring a huge amount of selling pressure on BTC that has been locked for more than 10 years.

The early users of Mentougou have made dozens of times more money, so they will definitely run away.

(2) The international situation has changed dramatically.

Yesterday, Russia and North Korea formed a strategic alliance.

If one side goes to war, the other side will support it.

The conflict between NATO and Russia is gaining momentum, and now it is adding fuel to the fire.

War is negative for risky assets BTC.

(3) Last night, a Fed official made a negative speech.

Kashkari said that the wage growth rate is too high, and

it may take up to two years for inflation to drop to 2%.

ETF funds have been net outflows for 7 consecutive days,

mainly Fidelity and Grayscale are dumping the market.

Get up in the morning and wait for the Chinese panic to be released.

Some coins with strong fundamentals will rebound.

Pay attention to the PMI data released at 9:45 tonight.

Lower than expected is good news, higher than expected is bad news.

Still the strategy of yesterday.

Position below 50%, but don’t be short.

Hold spot and reduce leverage. Saturdays and Sundays are generally volatile + callbacks.

Keep a normal mind, don’t be too optimistic or too pessimistic.

Everything will turn around when it reaches its extreme, and the market will not keep falling.

Information source: BitEagle