The crypto market is about to end this round of short-selling trend correction. Bitcoin has stabilized above $59,000 and is shrinking, while Ethereum has stabilized above $2,600, with extremely shrinking trading volume.
The recent market crash came from rumors of the transfer of Bitcoin in the United States, which completely copied the news of Mentougou and the German government selling Bitcoin some time ago. It is worth noting that next week, the head of the Federal Reserve, Bao, will deliver a speech on the economic outlook at the Jackson Hole Economic Symposium at 10 a.m. Eastern Time on August 23 (10 p.m. Beijing Time on August 23).
Bank of America expects that the Jackson Hole Central Bank Annual Meeting will not have much impact on the US dollar. The market has already priced in that the Federal Reserve will cut interest rates several times this year, so the US dollar has been weakening.
Some institutional analysts believe that after the market correction, the next market will still be a one-man bull market dominated by Bitcoin and Ethereum. In addition to the currencies with narratives and prospects, the currencies with large amounts of unlocking will not be paid attention to by institutions. While new currencies are being launched, many old currencies will face delisting and return to zero, so the operation of altcoins must be cautious. KP92877 is handed over, and attention to changes in news.
