BTC fell below 58,000 over the weekend and has been stuck above 57,000. What do you think of the future market? Will it fall to 40,000?
The original 80,000 BTC in Mentougou have been dumping, and the current inflow of BTC ETF is also slowing down. The market lacks funds and cannot catch up.
There is no big reason for the price of bitcoin to rise now. If the remaining 40,000 bitcoins in Mentougou continue to be processed,
Stimulated by the selling pressure in Mentougou, it may fall to 55,000, but if these 40,000 do not move, there is no need to worry too much.
There is relatively strong support at the 57,000 level. Currently, the WR indicator of BTC has fallen to a low of -85 in recent months. If it falls below 57,000, it will quickly pull back. 63,000 is the cost price for short-term buyers. The cost of BTC ETF buyers is above 50,000, and it is difficult to fall to 40,000.
The selling pressure in Mentougou has been digested, and there is capital in the market after the interest rate cut. There may be a rebound in mid-to-late September.
When the market is rising, don’t be too impulsive and say it can still increase ten or a hundred times. When the market is falling, don’t let panic control your mind and cut your losses at the bottom!
This week's news focus will be on the release of non-farm data on Friday. What I want to say here is that we should focus on whether the market can hold the 56,000 level in the next few days. If it falls below, it will only accelerate the downward correction of the market.
September was an eventful month with many major events:
9.6 Big Non-Farm.
9.10 US presidential debate.
9.11 US CPI in August.
9.18 Federal Reserve interest rate meeting.
9.29 CZ was released from prison.
How do you view the upcoming market conditions and opportunities?
Big cycle market
The external environment is the uncertainty in the certainty of this round of major cyclical market. Interest rate hikes, interest rate cuts, and wars are all labor pains in the economic cycle and a process of rebirth from death. As long as the world does not perish, it will continue in a cycle. What we are betting on is the probability of certainty. In fact, we are betting on the destination of the funds from the Fed's interest rate cut, the possibility of Bitcoin besides gold and silver. Bitcoin may be a new reservoir for the US dollar.
Possible short-term opportunities
Possible opportunities in the short term should be in Brc20 assets and Fractal. They are not new technologies, but they are currently the most suitable off-chain expansion of Bitcoin chain assets. Developed by the Unisat team that successfully launched ordi Sats Pizza, they will further release the liquidity potential of Brc20 assets. It is not that their technology is better, but the trust of community users and relatively complete infrastructure links.
Next hot spots
The sluggish ecosystem on the Eth chain and the PVP gambling endgame of the sol chain meme coin are ultimately unsustainable. The market has entered a cycle of self-repair and discovery of new narratives, just like Brc20. At the moment, BTCfi may emerge, and a wave of BTCfi popularity led by Babylon may be the next hot spot. Projects such as STX BB T Badger that have issued tokens may enter the BTCfi field ahead of schedule.
The market conditions remain the same, but the coins are not as good as before. Adjusting positions at a low level at this point in time may be an opportunity to maximize profits in this bull market.
Market innovation may not necessarily bring about increases, only funds can drive the growth of the cryptocurrency circle!
These past few days, everyone has been saying that ETH is falling, and it’s going to fall sharply, because there is no innovation in the cryptocurrency world this time.
Simply put, if the current market is going to rise, it will rise whether there is innovation or not. If the market is going to fall, it will fall even if you have 200 new technological innovations a day. The logic behind the rise and fall of the cryptocurrency circle has nothing to do with innovation.
The value of blockchain lies in consensus. Where there is consensus, there is value. Without consensus, even if your TPS is 200 million, your GAS FEE is almost equal to 0. What’s the use?
The cryptocurrency world is now a market that simply provides transactions and gambling. It has nothing to do with technology or innovation. What you should study is not the underlying technology, the team background, or the so-called innovative technology and how many problems it has solved. What you should study is the distribution of chips, the number of real coin holding addresses, the direction of smart money, and so on.
The cryptocurrency world is a more barbaric and primitive pink sheet trading market. The Wolf of Wall Street has seen it, right? Don't think that pink sheets are illegal. Pink sheets themselves are completely legal, but the liquidity is extremely poor. Therefore, good sales are very important. When selling, Leo only needs to emphasize one point - a 10-fold or even 50-fold return in two years, you can pay off your mortgage, you can buy a good car, and you can marry a beautiful girl.
The difference is that the liquidity of our pink sheet market is actually much better than that of the original pink sheet market, and it is coupled with a very sexy blockchain technology. That’s enough, nothing else is needed. With people and liquidity, what else do you need?
When you understand these, the conclusion is relatively simple. The cryptocurrency market is a market driven purely by capital. It has nothing to do with projects or technology. Where the capital goes, the market will rise. Where the capital is withdrawn, the market will fall. It is very simple.
Don't be too pessimistic. What we need to do now is to wait. When the decline is over and most people leave the market, we will go in! Their bodies are also part of our profit!
BTC fell below 58,000 over the weekend and has been stuck above 57,000. What do you think of the future market? Will it fall to 40,000?
The original 80,000 BTC in Mentougou have been dumping, and the current inflow of BTC ETF is also slowing down. The market lacks funds and cannot catch up.
There is no big reason for the price of bitcoin to rise now. If the remaining 40,000 bitcoins in Mentougou continue to be processed,
Stimulated by the selling pressure in Mentougou, it may fall to 55,000, but if these 40,000 do not move, there is no need to worry too much.
There is relatively strong support at the 57,000 level. Currently, the WR indicator of BTC has fallen to a low of -85 in recent months. If it falls below 57,000, it will quickly pull back. 63,000 is the cost price for short-term buyers. The cost of BTC ETF buyers is above 50,000, and it is difficult to fall to 40,000.
The selling pressure in Mentougou has been digested, and there is capital in the market after the interest rate cut. There may be a rebound in mid-to-late September.
When the market is rising, don’t be too impulsive and say it can still increase ten or a hundred times. When the market is falling, don’t let panic control your mind and cut your losses at the bottom!
This week's news focus will be on the release of non-farm data on Friday. What I want to say here is that we should focus on whether the market can hold the 56,000 level in the next few days. If it falls below, it will only accelerate the downward correction of the market.
September was an eventful month with many major events:
9.6 Big Non-Farm.
9.10 US presidential debate.
9.11 US CPI in August.
9.18 Federal Reserve interest rate meeting.
9.29 CZ was released from prison.
How do you view the upcoming market conditions and opportunities?
Big cycle market
The external environment is the uncertainty in the certainty of this round of major cyclical market. Interest rate hikes, interest rate cuts, and wars are all labor pains in the economic cycle and a process of rebirth from death. As long as the world does not perish, it will continue in a cycle. What we are betting on is the probability of certainty. In fact, we are betting on the destination of the funds from the Fed's interest rate cut, the possibility of Bitcoin besides gold and silver. Bitcoin may be a new reservoir for the US dollar.
Possible short-term opportunities
Possible opportunities in the short term should be in Brc20 assets and Fractal. They are not new technologies, but they are currently the most suitable off-chain expansion of Bitcoin chain assets. Developed by the Unisat team that successfully launched ordi Sats Pizza, they will further release the liquidity potential of Brc20 assets. It is not that their technology is better, but the trust of community users and relatively complete infrastructure links.
Next hot spots
The sluggish ecosystem on the Eth chain and the PVP gambling endgame of the sol chain meme coin are ultimately unsustainable. The market has entered a cycle of self-repair and discovery of new narratives, just like Brc20. At the moment, BTCfi may emerge, and a wave of BTCfi popularity led by Babylon may be the next hot spot. Projects such as STX BB T Badger that have issued tokens may enter the BTCfi field ahead of schedule.
The market conditions remain the same, but the coins are not as good as before. Adjusting positions at a low level at this point in time may be an opportunity to maximize profits in this bull market.
Market innovation may not necessarily bring about increases, only funds can drive the growth of the cryptocurrency circle!
These past few days, everyone has been saying that ETH is falling, and it’s going to fall sharply, because there is no innovation in the cryptocurrency world this time.
Simply put, if the current market is going to rise, it will rise whether there is innovation or not. If the market is going to fall, it will fall even if you have 200 new technological innovations a day. The logic behind the rise and fall of the cryptocurrency circle has nothing to do with innovation.
The value of blockchain lies in consensus. Where there is consensus, there is value. Without consensus, even if your TPS is 200 million, your GAS FEE is almost equal to 0. What’s the use?
The cryptocurrency world is now a market that simply provides transactions and gambling. It has nothing to do with technology or innovation. What you should study is not the underlying technology, the team background, or the so-called innovative technology and how many problems it has solved. What you should study is the distribution of chips, the number of real coin holding addresses, the direction of smart money, and so on.
The cryptocurrency world is a more barbaric and primitive pink sheet trading market. The Wolf of Wall Street has seen it, right? Don't think that pink sheets are illegal. Pink sheets themselves are completely legal, but the liquidity is extremely poor. Therefore, good sales are very important. When selling, Leo only needs to emphasize one point - a 10-fold or even 50-fold return in two years, you can pay off your mortgage, you can buy a good car, and you can marry a beautiful girl.
The difference is that the liquidity of our pink sheet market is actually much better than that of the original pink sheet market, and it is coupled with a very sexy blockchain technology. That’s enough, nothing else is needed. With people and liquidity, what else do you need?
When you understand these, the conclusion is relatively simple. The cryptocurrency market is a market driven purely by capital. It has nothing to do with projects or technology. Where the capital goes, the market will rise. Where the capital is withdrawn, the market will fall. It is very simple.
Don't be too pessimistic. What we need to do now is to wait. When the decline is over and most people leave the market, we will go in! Their bodies are also part of our profit! #非农就业数据即将公布 #Telegram创始人获保释 #美联储何时降息？ #MtGox钱包动态
