Hello, fans and friends, welcome to the president's channel
Yesterday, the bitcoin price plummeted again, falling from the highest point of 63,400 points to the lowest point of 58,400 points, a drop of about 8%. As of the time when the president posted the article, the bitcoin price has risen again to around 60,000 points, and is currently in a basically stable state. As for the subsequent trend, the president predicts that it will bottom out again, but this bottoming out will not be too deep. The previous support level is around 56,000 points, and this callback is very likely to fall below the previous support level in the president's opinion. Many altcoins have also begun to fall all the way. Among them, the president observed that only some strong currencies are maintaining a sideways and upward trend. Smart friends should also figure out that the currencies that can pull the market at this time and the currencies that can quickly callback today are all worthy of brothers to start with.
Now the president will take the brothers to look at the relatively valuable information from yesterday and today
Mt. Gox plans to repay $8.5 billion worth of Bitcoin, and IG Markets analyst Tony Sycamore said that the repayment of loans to creditors next month may not have as much impact on Bitcoin prices as many people expect. There are too many historical factors to make specific predictions about the impact of the upcoming repayments, but it is estimated that about half of the Bitcoin (worth about $4.5 billion) may begin to enter the market in July. Sycamore said he believes that a large part of the so-called Mt. Gox selling pressure is already reflected in the current market conditions. The repayment has been going on for a long time. The repayment is happening against the backdrop of deteriorating market sentiment, technical selling and outflows from Bitcoin ETFs. Much of the speculative "hot money" in the cryptocurrency space has left to chase the "broader world" of giant stocks such as Nvidia and Apple in the stock market. In addition, when it comes to Bitcoin's price action, Sycamore said he does not believe the current sell-off will fall further. He pointed to the strong support of the 200-day moving average as a reason to remain optimistic in the coming weeks.
Mentougou has been making trouble again these two days. Actually, this is a small problem, brothers. Mentougou will scare people every time there is a bull market. Secondly, didn’t the big pie have several big corrections during that bull market? There will be some every time, right? Brothers, don’t worry too much about this kind of problem.
There is another piece of news that brothers can consider. Robert Kiyosaki, the author of "Rich Dad Poor Dad", posted on social media that Bitcoin is plummeting. Most people should sell. I am waiting to buy more. All markets have ups and downs. Many people make a lot of money by trading the market, which means buying low and selling high. The problem with trading any asset is taxes, especially short-term capital gains taxes. My strategy is similar to Warren Buffett's buy and hold forever. Robert is a very well-known writer in the world and the president is also a firm holder of big pie. Brothers must understand big pie in all aspects! Big pie has a promising future!
Regarding contracts: The president’s advice is still to wait a little longer, and buy after it drops a little more. Go long at low levels in the long term, and don’t make orders blindly in the short term. The precise position will be given in the community later.
For the altcoins: Brothers can consider ambush Ethereum Layer 2, and try not to touch the contracts of meme coins, AI track, and altcoins. Spots must also be equipped with stop loss. Pepe is currently making frequent moves, and brothers can consider buying some Pepe coins appropriately, and don't be too greedy, don't think about eating a fat man in one bite.
