Is the cryptocurrency market going to reverse? These two important positive factors are coming, and the future market depends on them!
What coin can I buy now with a 10x potential? I am most optimistic about it! Let’s follow Shuqin to see what major updates Celo, Pepe and XAI have.
The first question that everyone is most concerned about is whether the cryptocurrency market has finished falling and will take off in the future?
Although Shuqin is a die-hard bull, we must also admit that there is a rebound, but there is no basis for a complete take-off at present. Because there are still 8 billion bitcoins lying in the Mentougou address, and Germany also has 2.5 billion coins waiting to be sold.
However, looking at the buying side, the average daily net inflow of ETFs is only 100 million, and sometimes there is even a net outflow. The trading volume of Binance, the world's largest exchange, is about 1 billion per day, most of which are offset by buying and selling, and the real net inflow may be less than 100 million. Therefore, the selling pressure of 10 billion in Mentougou is really not small. If these two are not sold out, it will be difficult for the cryptocurrency market to usher in a big increase.
So when the market rebounded last weekend, I also asked everyone to reduce their positions. At that time, Ethereum was still close to 3,100, but it reached 2,800 yesterday, which was considered a small escape from the top. Then we bought it back at a low price when it fell last night.
But don’t be too discouraged, because there are actually two very big positive factors in the short term that can lead to a small pull. We will talk about this later.
In fact, if you think about it the other way around, this is good news for those who hoard coins, because the Mentougou incident will delay the start of the bull market by one or two months, which gives you more time to hoard coins, and the prices are all discounted. If you invest an extra 10,000 yuan per month, it will become an extra 50,000 to 100,000 yuan next year. Isn’t it great? However, if you want to buy at the bottom, you must enter the market in batches, buy at a low multiple or spot, or even invest regularly.
Although the market is not doing well now, there are still several important positive factors to look forward to.
First of all, Trump, who is very likely to be elected, will give a speech at the Bitcoin Conference on July 25th, which is definitely a qualitative change in the cryptocurrency circle. Let’s not talk about political factors first. He has nearly 100 million fans worldwide, so this is likely to ignite a wave of market. In addition, major media are now competing to report his various movements every day, and even some domestic self-media are talking about Trump’s deeds, so these people will promote it again, so Benqin is full of expectations for the conference on July 25th.
After talking about the overall market, there is a small coin that you can also pay attention to, and that is Celo.
Since Tether announced the issuance of USDT on its blockchain in March, its TVL has been soaring. Now, the issuance of USDT alone has reached 135 million. The one above it is Near, which is 180 million, but Near’s total market value is as high as more than 5 billion. Celo’s market value is only 400 million, less than 10% of Near’s.
In addition, Ton's USDT issuance is 570 million, which is 4 times that of Celo, but its total market value is nearly 40 billion, which is 100 times that of Celo.
Therefore, the data of Celo, a little-known public chain, is really impressive, and behind it are giants such as A16Z and Coinbase, so it can be said that it comes from a famous school.
In other words, its data is similar to that of the old blockchain, but its market value is only one-tenth of that of the old blockchain. So everyone can judge for themselves whether it is in a value trough.
Now many people are asking me whether Pepe is going to be out of business and whether they can buy it at the bottom.
Shuqin had analyzed the crash in April before, saying that the Pepe coin would pull back by about 50% every time it surged.
Last year, it pulled back by 68% and 50% respectively, and in April it pulled back by 63%. Now, it has also pulled back by nearly 60%, which is very consistent with the previous pattern. So even if it is not the bottom now, it is very close to it.
After that, it will consolidate at the bottom for a few weeks, and then usher in another wave of rise, each time increasing by 3 or 5 times, which is very scary.
For example, in March, it increased by nearly 10 times. Shuqin analyzed it and told everyone to sell at the top, but then it plummeted by 63%. At that time, Shuqin also kept encouraging everyone to bravely buy at the bottom, and then it increased by 4 or 5 times. So this time should be similar, you can buy at a low point, this is all based on experience.
In addition, BNB also has three potential positives. The first is the anniversary celebration on July 14, which we have already talked about in the last issue. We can wait for this day to see if there are any positives for short-term trading. Another potential positive that many people have overlooked is that Zhao Changpeng is expected to return in August or September. Will BNB and even the entire cryptocurrency circle have a big wave?
Binance has not launched BNB for several weeks due to the bear market, and when it is launched later, it should also rise. However, the short-term trend still depends on the 14th, which is the anniversary celebration on Sunday. On that day, you can consider taking profits in stages. We also let everyone buy the bottom on Friday and make a small profit.
In the past few days, both Ton and Sol, which we allowed to enter the market, have rebounded a lot. Even Ton has recovered its losses and returned to the level before the crash. Then when the market rebounded to a high point on Sunday, I asked everyone to reduce their positions in various coins to avoid the big drop last night. Then we bought them back at a low price and repeatedly took advantage of the market.
Those who want to operate with me can take a look. Not only are there various whale data to help you escape the top first, but there are also many operation opportunities every day, allowing you to accumulate more capital before the big bull market starts.
Okay, let’s continue.
Now everyone should pay attention to the XAI coin. It will unlock a large amount of about 72% of the current circulating tokens tonight, so those who have this coin can consider hedging for the time being. With such a large selling pressure released, I estimate that this project will be weak for a while.
Pay attention! Just today, the XAI project announced that the unlocking will be postponed for 6 months. Now the bad news has turned into good news. . .
Like the PYTH we talked about before, and even the DYDX that was unlocked in large amounts last year, they have been weak for quite a long time. I haven’t even taken profits on my short PYTH before, because I wanted to use it to hedge my Ethereum position and collect the long funding rate at the same time.
Because I thought Ethereum would be stronger due to ETFs, while PYTH would be weaker due to large unlocking, so I built an investment portfolio, which I also talked about in the show at that time. Now everyone can see that although Ethereum plummeted, we have PYTH short position hedging, which is a very successful hedge.
The end of the program is a very exciting potential positive, which is the CPI inflation data at 8:30 pm on Thursday. Although the market predicts that the core CPI will remain unchanged at 3.4%, the market expectation of CPI has reached an astonishing 3.1%, which will be a very large drop from the previous time.
If this is the case, will inflation still be far from 20? This also gives the Federal Reserve the best reason to cut interest rates in September. Therefore, Thursday's CPI data is likely to be a turning point in the market. I hope everything goes well!
