10 billion! The Bit Whale has finally taken action. Is the currency circle going to reverse this time?
There has been a lot of bad news recently. Grayscale has just spent 2 billion, and now Mentougou and Celsius are also selling hundreds of millions of chips every day. Will this round of correction fall below 30,000? And what coins are worth buying now? Let’s take a look with Shu Qin.
The market situation these days is really a Shura market. A series of liquidations have come in the currency circle. In the past 24 hours, 150,000 retail investors have liquidated their positions, with the amount exceeding US$400 million. Most of them are bulls who did not see the situation clearly.
The above is only forced liquidation, and many people cut their positions manually and left the market, so the actual loss in the currency circle is as high as billions of dollars.
So where will Bitcoin fall? And are the big investors still selling?
To be honest, the price of this currency did fall faster than I thought.
The rebound is now very weak, falling to the 38,000 mark that Shu Qin has been emphasizing in just over a week. The market is also performing various ghost stories one after another, and there are three very big sudden bad news, which we will talk about in the second half.
Now that the bulls are so weak, maybe there is still room for further downside in the market, and maybe we have to test the transaction-intensive area near 36,000.
However, Shu Qin feels that most of the decline has already ended. As long as there is no black swan like the new coronavirus or the financial crisis, even if it falls again in the future, it will not fall far.
I think the form should be clearer now.
We are a natural rebound from the selling climax in the second round of decline. This is also the time when retail investors are most panicked and desperate. The time to form the bottom of the big cycle should not be short. It will go through multiple rounds of testing and accumulation. It might take a month or two.
In fact, you should be able to feel the trend of the currency circle in recent months. The traders have changed.
Nowadays, the bankers are so ruthless. It feels like the Wall Street gang has become the main force in market making. They beat them to death in one fell swoop and do not give retail investors any chance to get out of their trap. They just let them make hard losses and cut off their flesh.
Like the previous rising market, there has been no correction to allow retail investors to get on board.
It just pulls hard to let retail investors chase the rise, and then the institution distributes at a high level, and then pulls a little bit to make retail investors have hope. The result is that they are all trapped at the top of the mountain, and the style is very ruthless.
In fact, these smart big investors have already run away. The current situation is that retail investors take advantage of the situation, and then large investors buy at low prices. After all, retail investors can't do it without cutting. If they don't put together some chips as margin, they may be liquidated.
Like this whale, he sold at the high point a few weeks ago.
I cashed out 1.8 billion US dollars in Binance into my cold wallet, which is equivalent to over 10 billion yuan in RMB.
And you see, this is obviously a personal account.
You see, he tentatively transferred dozens of Us before transferring money to make sure the address was correct, and then there was no movement for many days.
Even 7 days ago, he received more than 50 million US dollars from Binance, which shows that he was still shipping at a high level on Binance last week.
And now as Bitcoin plummets to the 38,000 mark that I have been stressing, this giant whale finally took action and transferred more than 100 million to the Binance account to start bargain hunting, and the market also warmed up slightly.
But everyone should remember that this giant whale has a total of 1.8 billion. Now he has only entered the market with 100 million, and there is still 1.7 billion left. Maybe he thinks there will be better bargain hunting opportunities later.
If this is the case, the trend may have a long way to go.
But don’t panic too much. After all, it won’t go down much further. Many coins are discounted by 50 to 60%, and Bitcoin’s general correction is only 20 to 30%.
So even if it is not the bottom now, it is not far away. We can buy at low prices and enter the market slowly.
And don’t panic after buying the bottom, because as long as you don’t buy at the very tip of the bottom, you will suffer losses for a period of time. This is the same for everyone.
And you will also experience a period of market bottom shock and downturn, which makes people lose hope. At that time, it will be a washout, and many people will be shaken off.
So promise me, you must persevere, because as the market continues to slow down, it will jump higher, and then it will be a bull market!
Now we are also looking for bargain hunting in various currencies, except for OP and Aptos, like INJ I mentioned before. At that time, when he was over 40, I said I would at least go to 30 to buy the bottom. Many people thought I was crazy.
Now look, has he really fallen?
Especially when the benefits of this ETF are exhausted, I at least said there would be 5 or 6 periods. Shu Qin not only escaped from the top with everyone, but even led everyone to short-sell when the market was at its craziest. I kept shouting 30,000 Eight has also arrived, you probably know it by heart.
In the currency circle, people cannot make money beyond their awareness. If you don’t know how to read the data, and if you haven’t experienced some of the experiences yourself, you may suffer big losses later.
So some babies can come and learn, and let’s grow together~
After all, princes and generals like Xiang Ning have the guts, and those giant whales also started from retail investors step by step. If we operate with the banker, we will eventually become a new bank!
Previously, our Manta valuation was 3u, which was very accurate, and I asked everyone to escape from the top in the afternoon.
I think its reasonable price is 0.2-0.3u. If it is below 0.2u, you can buy it casually. Then you can see if it’s correct. If the opening price is too high, there will be little room for profit when entering the market.
In addition, let me tell you that the initial circulation of this project is only 11%, which is much less than Manta's 25%. This will cause too much money and too little food. If retail investors are too aggressive and the price is too high at the beginning, don't chase it. Just figure it out slowly.
In the long term, I think this project has a chance to reach 0.5u. After all, it has investors from major institutions such as Binance Labs and Jump, and its background is scary.
For the specific ALT analysis report, you can check the one I sent over there.
In fact, in the primary market, we just give you a random project without giving you a price. Can you estimate its true price based on data? Those who have this ability have all worked in investment institutions and are all venture capitalists. Yes, if the project estimate is not accurate, then don’t do it.
Okay, let's continue.
The current currency world is really troubled, and Wall Street has begun to tell ghost stories again to force retail investors to cut their flesh! Not only is there the gray sell-off that we warned about before, but now there is another Mentougou sell-off.
According to multiple media reports, Mentougou is now collecting user account information to repay their previously stolen Bitcoins. The total repayment amount is as high as 160,000, which is close to 1% of the total supply of Bitcoin.
You must know that Mentougou pays in legal currency, which means that Mentougou will sell all these Bitcoins into US dollars to compensate users, so the selling pressure will be very large. And this hasn't even started yet, but the market is already panicking.
And not only Bitcoin, but Ethereum is also facing huge negative news.
Celsius, which has been hit hard in 2022, has also recently begun selling Ethereum every day. In the past four days, it has sold 60,000 Ethereum worth US$125 million. There are still 560,000 Ethereums waiting to be sold in his wallet, which makes retail investors even more frightened and intensifies the recent decline in currency prices.
From Grayscale to FTX, then to Mentougou and Celsius, there are so many negative news overwhelming that it is difficult not to suspect that Wall Street is behind it.
In fact, these negative effects have existed before, but at that time, the mainstream media on Wall Street turned a blind eye and kept exaggerating the benefits of Bitcoin ETF. And they had finished shipping the goods at a high price at the beginning of the month, and now they were ready to get chips at a low price, so they started to sell stocks crazily.
If you want to make money in the currency circle, you must not be carried away by market sentiment.
I am fearful when others are greedy, and greedy when others are fearful. In the past, we escaped from the top when everyone was most FOMO, but now that the market has finally started to fear, we can also start to take back the chips we sold before at a low price.
But don’t just stud it, just figure it out slowly. You know, this crash will be the best time to enter the market on the eve of the bull market. Don’t panic, Shu Qin is with you! Let’s rush to Binance’s new coin ALT tonight!
Okay, that’s it for today’s program. Please pay attention to us, let’s gain wealth and freedom together in this bull market!