The overall market trend is still moving towards a bull market.

Recently, the market has shown some signs of warming up, and those who were previously shouting about a bear market have suddenly disappeared. After Bitcoin surged to a high, it slightly retraced, and some people started shouting that a bear market is coming, with a whole bunch of others joining in. I really don't understand how they could see signs of a bear market.

If there truly is no money in the market, or if events like Kamala Harris's election and frequent institutional crashes keep happening, then a bear market could really come. But right now, many people judging the bear market are just talking nonsense.

Everyone must stay clear-headed, take a long-term view, and not be influenced by the noise in front of them; otherwise, you might miss out on this bull market.

The current situation is that the demand for Bitcoin far exceeds the supply. Data shows that there are 228,000 people wanting Bitcoin, but the supply is continuously decreasing, such as Grayscale selling off, and Mengtougou also selling off, while the inventory on exchanges is shrinking.

In this situation, the price of Bitcoin can only go up. The higher the price, the more people want to buy, and then the price continues to rise, creating a rising cycle.

The current retracement is like giving the market a breather and is also a good opportunity for institutions and retail investors to enter. However, the chips are still mainly in the hands of the major players, while retail investors are either selling off or hesitating about whether to enter.

Many people are still waiting for Ethereum to drop below 3000 and Bitcoin to drop to 80000 or even lower. I'm not saying these prices won't drop, but the likelihood is very low.

I remember the difficult days of May to June last year, when I was encouraging everyone, and many people commented that they would wait for Bitcoin to drop to 30,000 before entering.

I wonder how those people are doing now, are they having any regrets?

It's the same now; although Bitcoin has risen significantly, the fair value of the market has already risen to above 90,000, making it hard to drop back down.

Are you stuck? When will it be a good opportunity to bottom out? The same old saying, if you're confused and helpless about what to do, click on my profile and follow me.