I originally planned to talk about the impact of ETFs on Bitcoin last night, but in the evening Bitcoin plummeted. I may not be surprised by the old leek, but I am still quite uncomfortable with whether the main position is a copycat or a new leek. . So I temporarily held a live broadcast at Binance Plaza at 10 o'clock last night to talk to everyone about follow-up strategies. In this case of a sudden correction in the bull market, there is not much that can be done, because all good strategies are done in advance, such as taking profits in stages, placing high orders for shipments in advance, etc. Now this kind of waterfall falls , what we can do is to be more aggressive in the bull market and not to be thrown off. In order to prevent the correction from taking too long, we can use short-selling hedging, or use low-level pins to rebound, choose to change positions according to the decline of the held currency, and do not frequently buy bottoms, etc. wait. After this wave of correction, when the real bull market comes, the prices of currencies with concepts, technological innovations, and traffic will climb to another peak. Tracks such as Ai, Gamefi, storage, and DEFI are likely to see a blowout. Generally speaking, the trend of Bitcoin is still good at the beginning of 2024. Compared with the previous bear market, the new leeks entering this bear market are relatively happy, because this time Bitcoin is harder than last time, but It is also more fun to play. From the highest point of this bull market, Bitcoin has corrected by about 77%. In the last bear market, Bitcoin has corrected by about 85%. Don’t underestimate this less than 10% drop, because it has more Such a drop is enough to put many well-known companies in trouble, on the verge of bankruptcy, and lose their faith! I still remember that in 2018, I bought Bitcoin at the bottom near 6000U many times. After Bitcoin verified that 6000U was an iron bottom several times, it fell to 6000U for the last time. I entered with all the profits and overweight positions, and the result was that Bitcoin went all the way. It went down and fell to around 3000U. That year was really difficult! I saw with my own eyes that my friends who were playing with me quit the circle one by one. Some were so rich in debt that they couldn’t bear it anymore, some were depressed and lost their faith, and some were afraid of quantum computers. In short, after a long time, there is always a reason that suits you. It’s really hard to stick to it after you leave! When Bitcoin dropped to around 3000U, and Ethereum dropped to around 80U, I wanted to buy the bottom, but firstly I didn’t have much money, and secondly, I didn’t have enough faith. Then all kinds of news about Bitcoin’s death were flying all over the sky, which was quite confusing. What it represents is that quantum computers and digital fiat currencies in various countries will kill Bitcoin.Although I knew that these were not very possible, I was definitely worried. I hesitated for a long time, and after the market recovered slightly, I finally took some money to enter the market again. The picture below is the circle of friends I posted after buying the bottom! After entering the market, it experienced a big correction again, especially some copycats. After falling almost to zero, they were also shocked by 30%. That would really make you feel desperate! The trend in the picture below is unbearable to anyone. We often say that cutting flesh with a dull knife makes people uncomfortable. The picture below shows a sharp knife and a dull knife cutting together. But fortunately, buying the bottom can be regarded as buying before dawn. Binance is like a ray of dawn, directly illuminating the bear market and warming the entire suffering currency circle. In the last deep bear, Binance took the lead in blowing the horn of counterattack. , this is also one of the important reasons why I love Binance. As the Binance platform currency ecology goes out of the circle, major exchanges follow up, the market begins to pick up, and I, who lost too much blood in the bear market, are gradually recovering. Immediately afterwards, everyone's view of the market began to change from bearish to bullish, institutions began to make trouble, and new leek gradually entered the market. With the advent of halving, the craziest bull market in the currency circle began. After that, DEFI, NFT, Gamefi, MeMe and others have successfully emerged from the circle, injecting innovation and vitality into the market, providing more playability. Giants or leaders in traditional industries such as Grayscale and Musk also brought capital into the group. The currency circle is very lively, and the currency price is also Thriving! According to the rules of the previous bull-bear switching, roughly the bull market starts after halving, the bull market lasts for about a year, and the rest of the time is a bear market. Generally speaking, the bull market is short and the bear market is long! Of course, black swan events cannot be ruled out before the halving, such as the 312 and 313 events! In January this year, the Bitcoin ETF also entered a new stage. This ETF has actually been in the works for a long time, and the soup has been changed without changing the medicine. This time, it is very likely that it will continue to be muddied, refused to pass, and then continue to drag on. Of course, there are currently many People are optimistic that the ETF will pass, but no, a wave of news that the Bitcoin ETF failed to pass in the evening directly hit Bitcoin and brought down the market. As an old currency person who has experienced several bulls and bears of Bitcoin, I think these impacts on Bitcoin are actually not big. Their impacts are generally short-lived. Only the impact of halving on Bitcoin is real. Yes, since the last Bitcoin halving, it is expected that Bitcoin will be halved on April 25, 2024. After the halving, it means that it will be more difficult for the maintainers who maintain the Bitcoin network to obtain Bitcoins. The cost will increase exponentially. In this case, miners will be even more reluctant to sell Bitcoin. Due to the halving of Bitcoin, the selling pressure on Bitcoin in the market will also be reduced to a certain extent, which will easily cause the price of Bitcoin to rise. , thereby achieving a relative balance.This article does not constitute any investment opinions and suggestions, and there are risks in the currency circle! That’s all for today. If you want to interact, you can go to Binance Live to find me.