Bitcoin fluctuated around the $60,000 level for a long time last night, and continued to fluctuate and fall after midnight today (11).

The lowest point was $58,900 at 2:00 p.m., the lowest since September 17.

However, Bitcoin rebounded quickly afterwards, and was reported at $60,433 at the time of writing, with the decline narrowed to 0.67% in the past 24 hours. Does this mean that the main force has obtained liquidity?

Although it looks dangerous, if you look closely, the bears are not as strong as in the previous three times.

On the contrary, the three rises by the bulls all broke the previous high point, which is enough to show that after the market plummeted on August 5, the bulls began to gradually recover.

Currently, Bitcoin is undoubtedly still fluctuating here. Although the price has not broken the previous high, the low point has fallen below 50,000 US dollars, but it quickly recovered.

On the whole, although the trend of Bitcoin gives him a very dangerous feeling, considering the overall trend, BTC is still in a bull market.

It's just that this year's Ox is walking in a very bumpy way; it looks back every three steps, making it difficult for people to build confidence.

This year's copycat market is the most difficult one to play. Basically, it is a wave of market that has reached its peak. If you are a little greedy, the early profits will be largely lost.

So if you want to get results from copycats this year, you need courage when buying and skills when selling.

With the entry of capital, the investment mentality requirements for each person are getting higher and higher. Sometimes the technical analysis shows that it is okay to go, but the market sentiment is very hot. This inner struggle can easily make people lose their direction.

I am bullish about 2024, but many people do not think so; because of the opinions of people around me, the price of Bitcoin continues to fall, and it has not stopped falling after more than 6 months of volatility, and there has been no improvement in the copycat market. These factors are facts in front of us, and they cannot help but make people worry.

This may be the main reason why a large number of people experience anxiety. The main reason why I don’t have this anxiety is just one.

People in my circle all have the same views as me, and our past experience and the trading systems we have mastered tell me that this market situation is very good, and the longer the volatility lasts, the more likely the value of the currency will soar.

As for the reason why Bitcoin fell and then pulled back quickly, it may be related to two economic data released by the United States last night:

The US CPI rose 2.4% year-on-year in September, lower than 2.5% in August, but slightly higher than the market expectation of 2.3%.

The number of first-time unemployment claims in the United States last week was 258,000, an increase of 33,000 from the previous week, which was also higher than the market expectation of 230,000.

With inflation still stubborn and the labor force relatively weak, all four major U.S. stock indexes closed lower and Bitcoin was hurt.

Let's talk about the next market:

- If BTC stabilizes at MA120, it will usher in a major uptrend

It will probably last for 3-6 months. If it coincides with the rapid interest rate cut by the United States, then we will have the right time, place and people.

- But it may not be the kind of big bull that makes everything go up. It will only be possible if there are new things and new technological innovations to keep up.

But anyway, I didn’t see anything new this time, only a few memes, which seemed to have some money-making effects recently, but they had already attracted a lot without being widely disseminated.

If everyone is just speculating on memes, then the market will most likely not last too long.

- Whether it is the US stock market, Hong Kong stock market or A-share market, they are all driven by the expectation of interest rate cut.

There will be a conduction effect later. If everyone enters a large-scale and long-term adjustment, it may be difficult for circle B to not follow for a long time.

Therefore, we still need to pay attention to risks in the second half. There are too many uncertainties in the altcoin market, and the only thing we can believe in in the long run is BTC.

- You still need to save more cash as the market goes up. The current employment environment is still relatively severe, and this may last for a long time.

Only by holding a certain amount of cash, waiting for opportunities, and having surplus food in hand when the time comes can you survive in the long run.