Found the reason for the crash? The reason for Bitcoin's consecutive two-day crash is because of Google? That's simply nonsensical!
Today, Google launched the quantum chip Willow, shocking the AI community. Even Elon Musk tweeted about it! The benchmark computational task completed in 300 seconds by Willow would take the fastest supercomputer in the world, Frontier, 10 quintillion years.
Everyone says: if this chip is used for Bitcoin mining, then the remaining coins basically have no other miners left; they will all be mined by this machine, completely killing the miners, and decentralization will cease to exist, which is why it has caused panic selling.
Many people attribute the recent drop to the development of Google's quantum technology, claiming it could crack Bitcoin's private keys.
This matter was already hyped back in 2018.
Quantum technology is good for the entire development of humanity. On one hand, quantum attacks will emerge, on the other hand, the POW consensus algorithm can resist attacks by simply updating the quantum algorithm. It may be possible to tell stories about this and write bullish essays, but in reality, it is very unlikely to happen.
Could it be the chain reaction behind Microsoft's investment rejection?
Microsoft's vote was not passed, which is expected, so the impact is limited.
Someone asked why the stock market is still falling. It may actually be related to the CPI data that will be released tonight at 9:30 PM in the US, which could influence whether the Federal Reserve will cut interest rates in December. The market has reacted with risk aversion, pricing it in advance! Currently, it seems inflation may continue to rise, and investors are worried about no interest rate cuts. But Su Bai feels that since core CPI hasn't changed and the unemployment rate has risen, the Federal Reserve may still cut rates in December.
Looking at Bitcoin's data, many investors who entered before the election are withdrawing, and the turnover of holdings is very large. Although there are signs of panic, the support hasn't broken, and the price around $95,000 is still quite stable. The next key point is to pay attention to the Federal Reserve's interest rate meeting on the 19th.
Look at Microstrategy still making big purchases, working to be included in the Nasdaq 100 index. The ETF holdings on Wall Street have already surpassed Satoshi Nakamoto, and more countries will make strategic reserves in the future. Following the most authoritative and smartest people into the world, the pitfalls ahead won't be too big.
As for why it fell, there's no need to find reasons for it. Standing in the present and thinking about the future, being a forward-looking thinker is what matters.
The current trend of Bitcoin on the weekly level has not been broken. Even if it is broken, there will still be a rebound trend line, so this position should not be too pessimistic. Since panic has arisen, there is a chance for a short-term rebound, take it into your own hands.
Next time there is a crash, it’s best not to easily average down; otherwise, if it truly drops for a few days, it will be really painful.
A pullback is the best opportunity to buy the dip! Dip-buying strategies and key coins
1. Mainstream coins and strong altcoins
Every pullback in a bull market is an opportunity to assess the strength of altcoins. Strong coins usually perform well during rebounds. Recommended altcoins to watch:
Established public chains: ADA, LTC
Strong MEME sector: WIF, BONK, FLOKI, PEPE
New strong MEME: neiro, babydoge, act, pnut
Long-term hold: SHIB, DOGE
2. Projects worth paying attention to
RAY
An automated market maker based on Solana, providing fast trading and liquidity sharing. Currently down 40%, it's a good time to enter.
OM
A highly secure Layer 1 blockchain focused on the tokenization of real-world assets, with IBC compatibility, bullish sentiment. Currently down 35%, a rare opportunity.
MOVE
A Move blockchain based on Ethereum, with high TPS and security, has seen astonishing gains recently and has passed security audits.
More practical strategies, specially prepared for spot enthusiasts and bull market hoarders! Click on my avatar to follow and get my bull market strategy deployment, shared for free with all fans. You need references, I need fans, to be the most generous bull market blogger on the entire internet!
