Bitcoin has been falling for four consecutive days now, and the decline is not too large. The total drop in the four days is about 10%.
Everyone in the market has been looking for opportunities to increase their positions. In addition, the A-share market was quite crazy before the holiday, so some people began to worry about whether to increase their positions in A-shares or in Bitcoin. Is Bitcoin the last chance to get on board now, or is A-shares the last chance?
If we look a little further ahead, we can clearly see that the sentiment of A-shares has changed significantly, but the fundamentals have not changed. The fundamentals of Bitcoin have also not changed. One is the bad part that has not changed, and the other is the good part that has not changed.
Therefore, those who did not buy A-shares before the holiday will definitely miss out after the holiday. Even if the bull market of A-shares and the bull market of Bitcoin start simultaneously after the holiday, then in terms of the rise and fall range and the amount of funds, one is a domestic investment product and the other is an international investment product, A-shares are far inferior.
October is usually the month when Bitcoin starts to rise. At present, the negative impact of the Middle East war on the currency price is gradually dissipating, and the daily RSI has reached the oversold level. The current price of about 60,000 is also lower than the price of 200-day fixed investment, which is in a period of time with relative cost-effectiveness.
There won’t be much time to see Bitcoin below 60,000. You must understand that bottom fishing is unrealistic. The only way to avoid missing out on cheap Bitcoin is to increase your position in batches.
If the drop is small, add a little, if the drop is big, add more, the meat in the bowl is the meat. No matter how crazy the altcoins are, don't chase them at this stage. When the big bull comes, the funds will rush to BTC first. Bitcoin will rise to a level first, and then it will go sideways waiting for Ethereum. After Ethereum goes up, Bitcoin and Ethereum will go sideways together waiting for the altcoins. At that time, if you still have some funds in your hand, it is time to buy altcoins.
Finally, Bitcoin, Ethereum, and altcoins all go crazy, the media reports them extensively, and then collapse and enter the next cycle.
Let’s take a look at the recent actions of Bitcoin whales. CryptoQuant founder Ki Young Ju said that the current market volatility is just a game in the futures market.
The real whales drive BTC up through spot trading and OTC markets. So on-chain data is crucial. Diamond-handed whales have not received particularly high returns, and whales that entered the market in the recent bull market have hardly made any profits.
Until liquidity from retail investors starts to flow in, they are unlikely to sell on trading platforms, and new whales are hoarding BTC at an unprecedented rate.
I think you must believe that it will definitely break the previous high of 73,000. The prices below 69,000 are from the previous round, and only the prices above 69,000 belong to this round. Not only old investors think so, but large institutions also firmly believe in it.
Therefore, Bitcoin prices below 73,000 will be the best range for everyone to buy. Those who sell at this price are mainly small retail ETF investors, novices, and those who trade in short periods of time.
That is to say, the main force will continue to wash and wash deeply below 73,000 as much as possible. Only in this way can it be possible to collect cheap chips to the maximum extent.
Small retail investors and the general public will certainly rush in to buy the bitcoin when the price reaches $100,000. Once the price reaches $100,000, the media will start to rush in frantically and will display the news that bitcoin has skyrocketed to $100,000 to everyone's retina.
We just need to follow the big institutional funds and fill up our positions below 73,000, which is equivalent to sowing the seeds. We don’t have to do anything after that and just wait for them to bloom and bear fruit and be harvested in autumn.
We must always look towards the end and let the process take its course. Ups and downs are normal. As long as you have the chips in your hands and persevere to the end, you will win.
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