The overall market trend is still moving towards a bull market.
Recently, the market has warmed up slightly, and those who previously shouted bear market have suddenly disappeared. After Bitcoin peaked and slightly adjusted, some people began to shout that the bear market has arrived, and a bunch of others followed suit. I really don’t understand how they see the signs of a bear market.
If there really is no money in the market, or if events like Kamala Harris being elected and frequent institutional blow-ups continue to happen, then a bear market might really come. But right now, many people's judgment of a bear market is entirely based on random talk.
Everyone must stay clear-headed, look at the long term, and not let the noise around us influence us; otherwise, you might miss this round of the 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 keeps decreasing, for example, Grayscale is selling off, Mentougou is also selling off, and the inventory on exchanges is decreasing.
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 an upward cycle.
The current adjustment is like giving the market a breather, and it’s also a good opportunity for institutions and retail investors to enter. But the chips are still mainly in the hands of the major players; retail investors are either selling off or hesitating whether to enter.
Many people are still waiting for Ethereum to drop below 3000, Bitcoin to drop to 80000 or even lower. I’m not saying these prices will definitely not drop, but the possibility is too small.
I remember the tough days last May to June; when I was encouraging everyone, many people left messages saying they would wait for Bitcoin to drop to 30,000 to enter.
I wonder how those people are doing now, do they have any regrets?
It’s the same now; although Bitcoin has risen quite a bit, the fair value of the market has already risen above 90,000, making it hard to drop back.
Are you stuck? When is the right time to buy the dip? It’s still the same saying: if you feel lost and helpless and don’t know what to do, just tap on my avatar to follow me.
