Bitstamp announced that it will distribute BTC/BCH to creditors who have registered to receive compensation on Bitstamp starting from July 25. At present, the number of BTC to be distributed by Bitstamp is about 10,216 (about 676 million US dollars): transferred from Mt.Gox addresses to Bitstamp yesterday and today.

The selling pressure of Mentougou has appeared. In the short term, both BTC and BCH will be under pressure, and BCH will be under greater pressure because of insufficient trading liquidity. This part of the creditors is also equivalent to passive lock-up. When Mentougou was closed, the price of BTC was more than 600 US dollars. Now the price is more than 60,000 US dollars, an increase of 100 times. There will definitely be a large number of creditors who choose to sell BTC directly in the market and take profits.

This is a short-term negative and will not affect the long-term trend. I personally think that this time there will be a golden pit in the second half of the year, that is, the price is relatively low.

In addition, the spot ETF of ETH has been approved. As mentioned before, there will be a certain amount of selling pressure in the short term after it is launched. Those who bought ETH funds before will take profits.

But in the long run, ETH will definitely rise, and it only needs a piece of news to break the current downward trend.

Just like the institutions at that time continued to increase their holdings of BTC spot, the capital market is not short of money, but lacks a good story to tell the market

What we need to do now is to gradually buy around 3000. I think this position is a gold pit. Even if you may be trapped later, it is worth a try at this position. The profit and loss ratio is still good.