Those who are panicking about the market can take a serious look at this. Believe in logic, not emotions. Let’s talk about Bitcoin first. Everyone feels strange about Bitcoin. After Bitcoin hit a new high, a group of KOLs have been shouting that Bitcoin will plummet. But no reason was given for the plummet. After waiting for a week, it still didn’t plummet.
Essentially, this stems from their fear of heights. They feel that Bitcoin has risen too much and "should plummet". Their true thoughts are that Bitcoin will plummet and pick them up. The plummeting KOLs not only make themselves very nervous, but also make retail investors anxious. The "greed panic" index is absolutely invalid at present. The real panic in the market has reached a peak, no less than on August 5. Retail investors are afraid that Bitcoin will plummet and directly bring down the copycat.
Bitcoin currently does not have the possibility of a "plunge". The next price of Bitcoin is almost clear, and 100,000, 150,000, or even 200,000 is just a matter of time. MicroStrategy keeps buying, and more and more listed companies are imitating MicroStrategy, using BTC as the company's strategic asset reserve. Once the United States clearly regards BTC as a strategic reserve, sovereign funds and national strategic reserves around the world will follow suit. BTC has already been scrambled for shares, and now it plummets by 30% for you small retail investors to pick up chips? The main dealers have spent half a year to clean up the market and absorb chips, and then they smash it down? What's in your mind? It's still the original view that Bitcoin will rise to around 98,000 and there will be a large-scale correction, which is between 10% and 15%. Prepare for the impact of 100,000. Currently, BTC and ETH are in a healthy upward triangle oscillation. BTC has stepped back on the trend line 4 times, and ETH has stepped back 6 times, and then it goes up. Before really falling below this triangle, the trends of Bitcoin and Ethereum are considered healthy. The big cake trades time for space, and after a week of grinding, it just doesn't want to sell chips. The panic in the market comes from one's own emotions. The same is true for Ethereum and Shanzhai. They just haven't come yet, not dead. Although Ethereum is garbage, it is indeed still oscillating and washing within the range, and has not deviated from the normal trend. On the bright side, severe panic is often the starting point of a big market. Take the death, it's time for us to eat meat!
