September 11, 2024
Today's big event is the election debate between Trump and Harris, but this time it seems that Harris has the upper hand. Trump Media Technology Group's stock fell 13% before the market opened, blockchain concept stocks generally fell, and even the crypto market saw a slight correction. Although Trump may not be able to fulfill his crypto-friendly promises, Harris's attitude towards crypto is clearly an iron-fisted policy. In a word, Trump's election will definitely benefit the subsequent market development. Of course, we must also be clear that whoever is elected will at most be icing on the cake for the crypto market, and it is impossible to fundamentally reverse the arrival of the bull market next year.
In addition to the interest rate meeting this month, Singapore's Token2049 is also worth paying attention to. This relatively intensive project promotion conference will mention the technology tracks and new projects that are worth paying attention to next. In addition, I always have a view that conferences like Token2049 that gather a lot of capital and talents will eventually be transformed into the driving force for the development of the industry. For us, investing in crypto is actually investing in the future of this industry, and you can only hold it if you find the reasons and logic to believe in it.
In fact, if you look closely, although the market is relatively sluggish, the news is not all negative. There are still many positive information that can boost confidence. However, why are the news directly presented to us mostly negative? From the perspective of the main trading needs, these are all signals of a relatively low point in the cycle, because only in this way can the main force further wash out the low-priced chips.
Recently, the altcoin has shown obvious signs of being unable to fall. Although we cannot judge this as the absolute bottom, combined with the prices of Bitcoin and Ethereum, even if there is another sharp drop, it is likely to be the last drop. In the short term, looking at today's market, there is still selling pressure, so it is estimated that it will continue to be pushed down, but it is a rare opportunity to go down. A few days ago, I talked about short-term bottom-fishing. The altcoin has rebounded by dozens of points. If you are doing short-term trading, you can continue to trade in waves, but I remind you again to hold on to long-term chips.
Thank you for your attention and likes.
