Recently, many friends have asked me whether the bull market is still there, and their mentality is about to collapse.

Why is there a big bull market in the currency circle? What distinguishes the bear and the bull? If this question is not thought through clearly and there is no firm opinion in the mind, then the mentality is indeed easy to collapse under the current ups and downs.

All the value coins in the currency circle, whether it is the mainstream currency big cake, or the copycat second cake, sol, it is difficult to say that there are fundamentals. Even if there are, they are mostly far-fetched. So what do mainstream coins without fundamentals rely on?

Is it the belief in meme? Or the consensus of decentralization, or the ambition of digital gold?

The most fundamental thing is of course liquidity. Rely on the flowing capital, the injected funds, the fans in the district, and the big institutions that enter the game.

Liquidity is the root of everything.

The biggest source of liquidity now is the capital of the United States and Europe, so the Fed's expectation management has such a big impact on the currency circle.

The Fed's expectation management is for the entire US economy, not for the cryptocurrency circle. It will affect the cryptocurrency circle, but it will not emphasize or conceal liquidity for the cryptocurrency circle.

What we need to do is to identify whether the liquidity is still there, whether it will be tightened or relaxed.

So is the liquidity still there?

In the first half of the year, the Fed has actually been slowly ending QT. From March to May, Yellen has also been issuing bonds. In the second half of the year, Master Bao's various hawkish speeches cannot change the basic fact that if liquidity is not relaxed, the soft landing there is just talk on paper and castles in the air.

If you can understand this truth, you will know that liquidity must be there and relaxation will inevitably happen. This time is most likely in September, and it will not be so hawkish until the end of the year.

In this case, what are you afraid of?

Hold the mainstream value currency. No matter what price you buy, I can guarantee you that it will definitely break through the new high. This is the basic power of the bull market.

As for how to hype, it is not the question answered in this article.

What I can tell you is that there will definitely be a market in the second half of the year. Hold your mainstream currency. When others are pulling up, you are not on the car, and you chase it up.

At that time, you were cut by 30% in a callback.

I don't take the blame for this.

For more latest information, spot contract codes, bull market layout, circle paper, etc., please visit #ENSUSDT $NOT