I am dizzy! Ethereum has fallen 40% from its previous high. Is it going to be a failure? These two coins are about to usher in major positive news, and I have already made a move.
The recent sharp drop in the US dollar index has had a huge impact on the cryptocurrency market. What major events have happened in the cryptocurrency market? Let's follow Shuqin to take a look~
First, let’s talk about the several coins I bought recently one by one according to their market value.
The first one is Ethereum. It has weakened significantly compared to other mainstream currencies recently. This is definitely a very good opportunity to get on board. Please see the picture.
Despite its recent poor performance, buying of Ether has been growing significantly.
After being bought by whales, a large number of coins are withdrawn from exchanges, most likely to be pledged to earn money or stored in cold wallets. This causes a sharp drop in the amount of Ethereum in the exchange and greatly increases its scarcity.
Like the previous times when the price turned red, it was mostly when the price was relatively low that the big whales entered to buy at the bottom, while the green color means that the big whales transferred the coins to the exchange for sale, which usually happened when the price was high.
However, the big whales cannot always accurately buy at the bottom and sell at the top, but most of their operations are relatively accurate.
Back to Ethereum itself, its overall stock trend in exchanges is still very obvious outflow, making the Ether in exchanges begin to become scarce.
This is because more and more coins are being pledged and locked, so there is no problem with Ethereum's fundamentals. It is indeed oversold now, and there is a lot of room for it to catch up.
In particular, there will be an upgrade to Prague at the end of this year or the beginning of next year. It will start to soar two months before each upgrade. This will not be long. The price of the currency will generally double before and after the upgrade. It is a very good long-term investment target.
In the short term, the AI sector is about to usher in a second wave of popularity, which is absolutely reliable. Because Apple will hold an iPhone launch conference at 1 a.m. on September 10th, which is not only the biggest annual feast for Apple fans, but also a fuel for the AI sector to rise again.
Because AI will definitely be the top priority in this conference, Fet and Render will definitely see another rally in September. For Fet, I plan to wait for it to pull back and then buy on dips above 1.0 and around 1.18.
Eh? Did you notice the words used in this piece? Can you play it again?
Yes! This is indeed the second wave. I had already set everyone up for the first wave two weeks ago.
I said the AI sector was going to make a comeback, because Nvidia’s financial report will be released on August 28, so everyone should make early arrangements. At that time, it was consolidating at 80 cents for a long time, but this week it rushed to 1.5u, doubling directly. So, if you have watched those episodes before, congratulations!
Now that the positive news from Nvidia’s financial report is over, AI Coin should have a small correction for a few days. We can buy it back on dips, and then it will have another wave of popularity a few days before Apple’s conference. I think the chances of winning are very high.
In addition, there is another positive factor for AI, which I have mentioned before. That is, OpenAI’s new large language model Strawberry is likely to be released before autumn, which will be an additional positive factor.
In addition, Trump has ushered in an important opportunity in the election. Zuckerberg, a die-hard fan of Biden, suddenly turned against him, saying that he was forced to delete the negative information about Biden.
What's even more amazing is that he announced that he would no longer donate to it. Now that social media giants have switched sides, it seems that Trump's chances of winning have increased a lot.
And now I plan to continue holding People, because before the national debate on September 10, he will definitely criticize again, and I think there is a chance that it will reach the neckline of 0.089.
No matter what the price is, I will sell all my positions on the day of the debate on the 10th, because this kind of hot spot-oriented trading is very sensitive to the timing point. After the hot money takes advantage of this hot spot, they will scatter. If you run away too late, you will be buried.
On the 30th, Floki's positive news was exhausted and it started to pull back, so I could sell Floki on the 30th to add People and Fet, which was a seamless transition. Everyone, remember, it will take a snapshot at 8 o'clock tomorrow, so you must sell at highs. In fact, you can also sell half of it at 0.157 now.
In fact, Floki is also awesome, because his Cat airdrop benefit allowed him to hit a new high of more than 0.16 when the market plummeted. This is the power of hot spots. In addition to the WIF 2.0 escape top we talked about before and the Bitcoin 65,000 callback, so we are not only bottom-fishing, but also escaping the top accurately.
Yesterday, we also bought more Bitcoin at 58,000, and we are still making a profit. If you want to follow Benqin in real time, you can really come and have a look.
Okay, let’s continue.
Now there is a very critical data that is ignored by most people. That is, the trading pairs of various currencies in the currency circle - the US dollar index DXY has begun to depreciate. Please see the picture.
It is basically negatively correlated with the trend of Bitcoin. When the US dollar depreciates, Bitcoin appreciates, and when the US dollar appreciates, Bitcoin will depreciate relatively. It can be said that the price of the US dollar, that is, the US dollar index, is an extremely important part of the general trend of the currency circle.
Now the US dollar index DXY continues to fall, which is a very good bullish signal for the cryptocurrency market. Let's say the RMB buys U.S. dollars. In the past few months, it was bought at 7.2 or 7.3, and now it has dropped to 7.1. You can actually buy more U with the same RMB, and thus buy more Bitcoin, right? This buying has increased.
For US dollar holders, the dollar has started to depreciate, and will depreciate further after the money printing. So why should we still hold it? We should definitely exchange it for other assets, such as buying US stocks and Bitcoin.
In addition, the Fed's subsequent interest rate cuts will reduce the interest on US dollar deposits and cut returns in half, forcing people to look for new investment products. At the same time, interest rate cuts will also reduce borrowing costs and open up various leverages.
So no matter how you look at it, the long-term price of Bitcoin will definitely go up, but in the early stages of interest rate cuts, there may be major players speculating on recession or something to suppress the price of the currency in order to get chips at a low price.
Therefore, don't be shaken out, hold on to your coins, and buy some when there is a pullback. Because Shuqin emphasizes to you again, the result of your investment is certain, that is, your assets will at least triple next year, it depends on whether you can be patient until then!
Finally, don’t forget to like and follow us. Let’s achieve wealth and freedom together in this bull market. Bye~
