Today, BTC and ETH fell again. In the past 24 hours, more than 300 million US dollars and more than 200 million long orders were liquidated, and 120,000 people were liquidated in the entire network! ! ! !
Today, I will tell you about the recent events in the cryptocurrency circle! First of all, what is the reason for this big drop? There are mainly three reasons!
First: the BTC in Mentougou is moving, and it is rumored online that repayment has begun. The spread of negative news and the panic of the leeks have caused many whales to cut their losses and leave the market!
Second: The BTC confiscated by various governments have been continuously sold recently. The selling pressure of this batch of BTC is not large, but the deterrent effect is extremely strong. Although not much is sold each time, the total number is large. The current currency circle is already in a state of panic, and the slightest disturbance can be felt from the K-line!
Third, there are many negative news recently. The Fed’s rate cut rumored to be in September, which is a long way off. This is also a shock to the current market! There are also small mining farms, and the miners’ selling is not very friendly to BTC. Currently calculated at $0.06 per kilowatt-hour, Shenma M30S++ (shutdown price: $57,513), Shenma M33S++ (shutdown price: $57,514), Avalon A1346 (shutdown price: $55,657), Ant S19 Pro (shutdown price: $54,813) and other mining machines are close to the shutdown price.
Most of the coin friends are too impetuous! So how to eliminate this impetuous mood in the current coin circle? Let me explain it to you!
First of all, we need to clarify the current market situation. Regarding the current status of BTC and ETH, in fact, most retail investors or veterans know that the current market has not stopped falling, and the current trend is still in a downward channel. It is even more difficult to describe the altcoins! ! ! ! The liquidity of altcoins is also very poor, and there is a lot of unlocking and selling pressure on tokens. So what should we do now? ? ?
First: You must straighten out your thoughts. First of all, the most important points for us to trade cryptocurrencies are position management. We have been saying this in live broadcasts or in the group that you cannot have a full position at any time. The recommended ratio is also 50-50. If you listen to the advice and do not have a full position, but a five-layer position, although you will lose money now, at least you will lose less, not that much!!! If you lose less, you will win!
Another point is that the current market is only suitable for ultra-short-term trading. Ubicoin is more practical. Don’t always think about bottom fishing. We can wait for the market to stabilize before entering. It’s okay to make less money. If you are trapped, it may take a long time to get out of it! ! ! ! Don’t think about opening a contract to make up for the loss now. Opening a contract will only accelerate your pace of liquidation. It’s good if ten out of 100 people can make money by opening a contract! !
I have told you about the recent bad news above, now let me tell you about the good news:
1. In a few days, Ethereum’s ETF will submit documents. If it goes through quickly, it will be approved next week, and then a large amount of funds will enter the market! ! ! ! ! If Ethereum stabilizes, it will be much better for the copycats! ! ! !
2. It is said that the Federal Reserve can no longer bear it and will cut interest rates in the third quarter. Good days are on the way!
3. Former US President Donald Trump supports Bitcoin, believing that Bitcoin could become a strategic reserve asset that would help enhance the US's geopolitical strength and economic stability. Trump's popularity in this election is still very high.
Here are some solid suggestions for you regarding the current market situation!
1. Don’t play with contracts.
2. Don’t cover your position at will
3. Don’t be impatient and open a contract directly thinking of getting your money back in one go! That’s not reliable! ! !
4. Prepare USDT and be ready at any time. The approval of Ethereum ETF will be a big positive line!
5. If you have any questions, please communicate with the community management!
Hang in there fellow great crypto consumers!
