At this stage, I believe everyone is confused, especially my family members who are trapped like me.
Some friends who recently entered the market to buy at the bottom are also confused.
About $BTC
Bitcoin has been adjusted since mid-March, and half a year has passed. It cannot be said that there is no improvement, but now it is simply hopeless. The market activity has been declining, and many people are stuck and no longer trade. Many people have lost the desire to trade (including myself)
This is what the exchange does not want to see, and it is also what the main players do not want to see. So they use some hot spots to mobilize the enthusiasm of the market.
So have the main players really given up on this year's market? I think not. They are brewing a bigger fluctuation.
The purpose is clear, to fully mobilize the enthusiasm of the market and make funds flow. The wealth-creating effect under large fluctuations can also attract more external funds.
If ETF is the largest capital inflow in this round, then the capital outflow will also be through ETF. However, there are more requirements for shipment. According to the big guys who believe in Bitcoin, the purpose of pulling up the price of altcoins is to earn more BTC, and they have done so every time in history.
ETFs provide large institutions with a good import and export option.
So the question is, in an era where capital import and export have become more mature and complete, will the bull market be like the previous bull markets?
After all, the market is very pessimistic about the future market.
My answer is: Yes, and it might get even crazier.
(They said I was crazy and just blindly bullish)
BTC's current support is around 54-55k. It's very close, and this is also a critical support level. As long as it can hold up, I believe it is enough to support the subsequent rise. After all, the market has been consolidating for 6 months.
The most important data in the near future is the Federal Reserve’s decision to raise interest rates in the early morning of September 18th.
Previously, I shared the same view as the outside world that the Fed would start a rate cut cycle. Now I have another view: I think this rate cut may reach 50BP.
This time it is not just the Americans’ own choice, but will also change the current turbulent international situation.
Cut interest rates and bring world peace. If interest rates are raised, I even think it will intensify the opening of S3.
Therefore, at the critical juncture before the November election, we should pay more attention to the dot plot on the 18th, because we can see the number of interest rate cuts and the general interest rate this year. This is an important speculation opportunity for the market.
So let's wait a little longer. It is still expected that BTC will reach a new high in 2024!
