This week, the overall performance of the market was not very good, whether in terms of market sentiment or news. This also verifies a point that the dog dealers are now waiting for "news" to see if there is any good news to stimulate the market trend. However, judging from the currently known news, they will not enter the market aggressively.
Therefore, we can only wait and see whether there will be a known positive news of interest rate cut this month, as well as other "breaking" news to stimulate, so we can only wait for good news.
Although Bitcoin has been falling recently, the declines of other currencies have become smaller and smaller. Even some valuable currencies have been slowly moving independently and have not followed the decline.
Especially yesterday, Bitcoin fell 3 points, but some strong currencies did not fall, or the decline was very small.
If the past trends continue, if Bitcoin drops by 3 points, other sub-mainstream and altcoins will also start at 5 or 8 points.
Although the market will gradually open up and get better and better in the second half of the year, if the currencies you hold are not positioned on the correct track, you can only be a spectator in the bull market and a mere audience.
At present, many people who were trapped before think that as long as they hold on to their stocks, the prices will go up when the bull market comes, and they can sell them after the prices go up.
But there is a big problem here:
Many people mistakenly believe that when a bull market comes, all coins will increase several times or even dozens of times. In fact, this is not the case at all.
For example, at the end of the bull market in 2021, everyone saw that the coins that had risen well and increased dozens of times were the top 100 coins by market value. That was the peak of the bull market that you saw.
The current bull market has not completely broken out, the top 100 currencies by market capitalization will undergo earth-shaking changes, and many currencies will be eliminated in the bull market.
Many people invest in the future with the present in mind. When they see that stocks performed well last year or this year, they think they are valuable and that the bull market will continue to explode. This is a big mistake. In the early stage of the bull market, there will be many altcoins and air coins that attract attention. The purpose is to make these people sell their valuable coins, chase these coins, and eventually miss the entire bull market.
The following market conditions are very important. The current choice affects the ultimate benefits of this bull market. Therefore, you must not choose to lie down again. Solve problems wherever they arise. The most critical and important thing at the moment is to adjust your positions in a timely manner before the market starts fully and the growth gap between each currency has not widened.
L2 was criticized by Vitalik, and part of L2 will be sold and donated!
According to incomplete statistics, there are no less than a hundred public chains around the Ethereum L2 track, each of which claims to be original and has increased the scalability and security of Ethereum. But time has shown that the answer is that they are all bullshit and are just trying to make money and reap profits under the guise of L2.
A post by Ethereum founder Vitalik Buterin brought the L2 track back to reality. He must have been very disappointed to post the above paragraph and specifically mentioned L2. Vitalik told us the following points: the airdropped tokens held, such as the tokens of the L2 track, will be sold and donated to support the Ethereum ecosystem and charity. Through the upgrade of eth in recent years, the L2 track has sprung up like mushrooms after rain, but was ultimately considered to be of little value.
This is equivalent to a professional doctor concluding that a patient is in critical condition. Or to put it more seriously, sentencing him to death.
As the saying goes, "laymen watch the excitement, laymen see the doorway", I think Vitalik has seen the doorway of what the so-called L2 here will do to the expansion and ecology of Ethereum. Most of them are just using tiger skins as a banner to complete the harvest.
From our users' perspective, we can see that the most lagging track in this cycle is L2.
V God's statement that he does not plan to invest in L2 in the future is not without reason. There is serious homogeneity. Does every chain need to follow the old path of ETH? It is a serious case of reinventing the wheel. Do we really need so many L2 public chains? If there is no innovative technology and no super ecosystem, then there is no need for them!
So Vitalik finally realized that all the above were just taking advantage of ETH.
Please choose L2 coins carefully!
At present, a rate cut in September is a foregone conclusion, with a high probability of 25 basis points and a low probability of 50 basis points.
A 50 basis point rate cut would be a big plus.
The unemployment rate and non-farm data released at 20:30 tonight are particularly critical, because the data will give the final say on how much the interest rate will be cut. We must be alert to the possibility of exceeding expectations and prevent a sharp drop in BTC. The future direction of the cryptocurrency market depends most on the Federal Reserve's base interest rate.
The current interest rate is between 5.25% and 5.5%, and it may drop below 3% by the end of 2025. The lower the interest rate, the more beneficial it is to the cryptocurrency market. However, it is unlikely that there will be a situation like 2021 where the cryptocurrency market will soar with a 0 interest rate in the next two years. The money-making effect will be reduced, and there are only local opportunities. The current recommendation is to hold on. It is obviously inappropriate to short or cut losses at this price.
