US stocks lead to Bitcoin crash
Last night, the U.S. announced that its unemployment rate in July was 4.3%, which exceeded expectations of 4.1%. This was bullish for gold, silver, and Bitcoin. A slight increase in prices lured Bitcoin bulls to get on board. Subsequently, Genesis Wallet transferred large amounts of BTC and ETH, and it was suspected that it was executing bankruptcy liquidation procedures. At this time, the smart investors had realized that something was wrong, and they dumped their stocks and ran away. Only then did Bitcoin fall from 65,000 to around 64,500.
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Until 22:00, U.S. stocks began to plunge, with Nvidia plummeting 30%. Bitcoin no longer pretended to be serious and directly staged a waterfall market. The leeks on the car had no time to escape, and Bitcoin had fallen below 61,000 in the morning.
Today's market analysis: From the K-line, if the 1-hour level closes another positive line, it will confirm that it has entered an upward trend. Even if it does not close a positive line, it will not fall further. It has almost bottomed out. There is little selling power on the weekend. Short-term trading can be entered. The 4-hour, 12-hour, and daily levels are in a downward trend. The intraday pressure level is 64,000 and the support level is 58,400.
Is it easy to make money in the cryptocurrency world?
It is easy to make more than 100,000 in the cryptocurrency world if you buy the following currencies at the following low points.
Dogecoin (DOGE):
It performed outstandingly in some periods such as 2021. Over a long period of time from 2013 to 2021, if we look at some extremely low price points, the increase was astonishing. Data showed that in 2021 its annual increase reached 130 times.
SHIB（Shiba Inu Coin）：
In the few months of 2021, the price has risen dramatically from a very low starting point. From the beginning of 2021 to May 8-9, it soared 5 times.
LIT Coin:
After it was listed in February 2021, the price increased by as much as 75 times. As of May 8, 2021, the price had still increased by 33 times.
TKO心：
After its listing in early April 2021, the highest increase reached 100 times, and then it fell back, but as of May 2021, the price had increased by 36 times in just one month, and the market value exceeded 2.5 billion yuan.
If you think this is all before 2021, when I hadn’t yet entered the cryptocurrency world, then let’s take a look at the past two years.
Pepecoin (PEPE):
On April 17, 2023, the price was 0.00000016 US dollars, and on May 5, 2023, the price rose to 0.0000041 US dollars, an increase of 2468.7%.
Polkadot (DOT):
The price was US$4.34 at the beginning of 2023, and it rose to US$55.8 on November 20, 2023, an increase of 1186.6%.
After reading the above cases, do you think it is too easy to make 100,000 yuan?
Wait, everything has two sides. It seems easy to make 100,000 yuan, but it should be even easier to lose 100,000 yuan.
Example:
The value of Jasmy coin has plummeted from thousands of dollars per coin at its peak to a few cents, and its market value has evaporated by as much as a thousand times.
The price of conv coin plummeted within a few days, with the price dropping by as much as 100 times.
LUNA coin once had a high market value and was once called "Moutai in the cryptocurrency circle". In 2022, the collapse of its stablecoin UST (terrausd) triggered a chain reaction. LUNA plummeted from a high price to near zero in a few days. The price fell from $119.18 on April 5 to more than 99% in the next 48 hours, and its value was almost zero.
During the crash on May 19, 2021:
- Bitcoin once plunged 33%, and the price fell below $30,000;
- Ethereum fell as much as 46%;
- Dogecoin fell as much as 55%;
- SHIB fell 58%;
- Polkadot DOT fell as much as 57%;
- The platform coins of the three major exchanges, Binance, Huobi, and OKEx, fell by 46%, 44%, and 65%, respectively.
If you come to the cryptocurrency circle just to see or to make money, it is very dangerous. So the most important thing is not to make money, but how much money I can lose. I won’t feel sad if I lose, and the loss will not affect my life.
The most basic principle of investment is not to lose your principal, and then you can talk about making money and how much money to make.
