The culprit for this sharp drop is the impact of the Mentougou incident.
This impact has not ended yet, and it may continue to erupt in the next 1~2 weeks. We must be prepared for this. Every time Mentougou is used by someone to hype up the negative news, the market has almost become numb, but this time it is real.
In July, Bitcoin and Bitcoin Cash will be used to repay customers.
They have more than 140,000 bitcoins in their hands, with a volume of 9 billion US dollars. If all of them are thrown into the market, it is very likely that Bitcoin will be smashed to the dream position of 52,000. Is there such a possibility? Of course there is.
After receiving compensation, these customers who have suffered losses can immediately realize the life they have dreamed of for many years. They only need to sell the compensated bitcoins in the market. Therefore, the selling pressure is very large. If it really reaches this position, please make sure that we have enough cash in our hands to buy the bottom, don't be full of warehouses at that time, and can only be slaughtered by others, which is sad. At this range, Lao Li and his friends should not only boldly buy the bottom, but also for Bitcoin and Ethereum, we can directly double the leverage, and the bold ones can directly triple it. How will the short-term market go?
After this round of decline, it is expected to rebound, and the position of 64,000 may continue to fall due to the selling pressure of Mentougou. So you can open a short position at 64,000. And try to free up more cash positions at this position to deal with the risks behind.
Remember, if you regard your position as a long-term investment, the market decline should be regarded as a gift. It provides an opportunity to buy more tokens. Finally, it is crucial to formulate a strategy before making any purchase, and never invest all your funds.
If you want to get a good harvest in the second half of this year, choosing the right currency is the key
We have also taken advantage of the trend and have started research since 21. The value potential currency is ready. When the market opportunity appears, we will lay out. At present, there is still a layout opportunity. The later you go, the smaller your return and the greater the risk!
