Bitcoin (BTC) enters a period of shock and repair. When is the time for retail investors to enter the market?
Last night, Nvidia's financial report attracted global attention. Sales and profits exceeded expectations. As a result, the stock price did not rise but fell by 5%. It is a typical "good news turned into bad news". The currency circle also fell along with the US stock market.
This market is like playing hide-and-seek. Behind the movement of a needle, there is always a "unlucky guy" who is accurately hit. Good news does not necessarily rise, and bad news does not necessarily fall. In the "black forest" of the currency circle, surprises and accidents coexist. Don't pay too much attention to short-term fluctuations. Long-term trends are the hard truth. Bitcoin has mixed into the mainstream. Maybe one day when humans change from "flesh" to "cyber", Bitcoin will become the world's only value storage!
The current market is a period of shock and adjustment, and it takes time to grind slowly. Yesterday, Bitcoin was like a roller coaster. In the morning, it fell below 58,000 and rebounded to 60,000. In the evening, it broke 58,000 again. The bulls and the bears were in a close fight. 58,000 became the bulls' defense line, and 60,000 was the bears' fortress.
Now the price is stuck around 59,000. Back to today, Bitcoin has returned to the bottom testing stage. Yesterday's support of 58,000 was as weak as if it didn't exist. Since August 9, Bitcoin has been playing a big shock on the 4-hour chart, and now it is about to slide to the bottom of the shock.
With this drop, Bitcoin has a long way to go to 70,000. It will have to go through many twists and turns later. The market will have to repeatedly wash the market and grind the bulls' sharpness.
Although the altcoins have also fallen a lot, most of them have not fallen too much, which shows that the dealers are also confused and follow the general trend. Especially ETH, Vitalik has a lot of troubles recently. He was criticized for having a relationship and was compared to him. He was said to be not as good as Musk. ETH is indeed under great pressure now, but Vitalik is too important to ETH. He completed the new proposal EIP-7702 in 22 minutes. It is still up to him to lead ETH out of the trough.
It is normal to lose money in a bad market, and bankruptcy and debt are not terrible. The most terrible thing is that you have not learned anything, and you still blame this and that, and you have no courage to fight again. There are many opportunities in the cryptocurrency circle. The key is whether you are serious!
If you want to dig deeper in the cryptocurrency circle, but can't find a clue,
If you want to quickly understand the information gap, whether it is a contract or spot
You can learn more in my profile
