🚨 Why does Bitcoin always fail to float? An in-depth analysis of the market dilemma in August! 🚨
📉 Bitcoin’s dilemma revealed: Although US stocks have performed strongly recently (up 2% last night and up another 1% before the market opened today), Bitcoin bucked the trend and fell 5%. Is this the impact of the curse of market consensus?
🔍 Why did Bitcoin underperform in August?
Historical patterns: According to historical data, Bitcoin generally performs poorly in August, with a median increase of -7.49%. This pattern shows that August tends to be one of the worst months for Bitcoin.
External selling pressure: The recent heavy selling in Germany and Mentougou has had a significant impact on the market, further exacerbating the downward pressure on Bitcoin. The massive selling has created jitters and uncertainty in the market.
Market Sentiment: The sentiment cycle of the cryptocurrency market may also be affected in August, with investors' risk aversion increasing, causing assets such as Bitcoin to face more selling pressure.
Technical factors: Bitcoin’s technical indicators may show bearish signals, coupled with the overall depressed market sentiment, further suppressing the price rebound.
📈 Strategy advice: In view of the current market challenges, we recommend adopting a band operation strategy, that is, buying low and selling high, to cope with the severe fluctuations and uncertainty of the market. This strategy can help protect capital during market downturns and generate gains when prices recover.
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