Why are altcoins dropping so severely?
To put it simply, ETH's attempt to push to $4100 failed, and as a result, when it pulled back, the altcoin market collapsed like a house of cards. In fact, from the low point to now, these altcoins haven't really had a proper pullback.
Don't be fooled by some people complaining about the modest gains; in reality, many have already doubled or tripled, and some have even seen their value double directly. There are just a few underperformers that haven't gained much. Overall, the market performance is still quite decent.
Speaking of buying altcoins, if you don't have much position right now, you need to be cautious. Don't buy everything at once; take it in batches and start with 30%. If the price drops another 20%, then add another 30%. If it drops further, then buy the remaining 40%. Playing in spot trading requires patience and holding onto your investments.
Recently, we need to keep an eye on whether Microsoft will buy BTC. If they do, then the market will definitely have a short-term boost, and BTC might push further. If they don't buy, don't worry too much; the impact won't be significant, and the market won't go haywire because of it.
Also, we need to pay attention to the interest rate decision at 3 AM on the 19th. If they cut rates by 25 basis points, that aligns with our expectations, and the market will move as it should. But if they decide not to cut rates, we should be careful, as the market might take a heavy hit.
The likelihood of a rate cut is quite high, so we need to prepare in advance. The market has already seen a significant drop, and I have prepared some coins suitable for bottom fishing as a recovery plan. If you feel lost and helpless right now, just follow me! Remember, making choices is more important than hard work!
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