Hello, good morning, fans and friends! Welcome to the president's channel.
After the big cake reached the highest point of 43882 yesterday, it started a downward correction trend, and the lowest point fell to around 426290. This is actually very easy to understand. The big cake took the lead in pulling the market, and after the big cake and the second cake pulled the market, many altcoins began to follow the rise. The increase of altcoins will lag behind that of the big cake and the second cake, and the increase of altcoins also has a sector rotation effect, not a blind, disorderly increase. So brothers, whether you are doing contracts or spot, you must grasp the sector rotation between currencies, especially don’t have faith in altcoins, and understand that they are just hype. The top ten currencies in the last bull market and the first two bull markets have all withdrawn from the stage of history. The only currency that laughs last is Bitcoin, and other currencies can only be cannon fodder.
There are some news worth noting in the past two days, so I will share it with the president and brothers here.
Standard Chartered Bank expects the SEC to approve the spot Ethereum ETF on May 23. Geoffrey Kendrick, head of foreign exchange at Standard Chartered Bank, said: "We expect pending applications to be approved on May 23, which is the final deadline for the first batch of ETFs under consideration, equivalent to January 10 for spot Bitcoin ETFs." The bank also predicted that if ETH imitates BTC's pre-approval performance, its potential target will reach $4,000. Brothers, many financial institutions are currently working hard on ETH's ETF application. As long as Ethereum's ETF application is approved, then the spring of Ethereum has arrived, and it will inevitably be pulled straight. The approval of Ethereum and the approval of Big Pie are two completely different concepts. As long as Ethereum is approved, then Ethereum will have the basic ability to keep pace with Big Pie. Brothers can currently configure a certain amount of Second Pie, and don't put all the big funds on Big Pie.
According to data, transaction volume on the Solana blockchain hit a multi-year high in January. Before the end of January, the transaction volume of SOL and SPL tokens on the Solana blockchain has soared to $951.9 billion, which means that the economic throughput of the network has increased by 30% from $735.8 billion in December, which was a multi-month high at the time. The growth of transaction activity on the Solana blockchain is significantly higher than the levels in 2023 and most of 2022. For example, in September 2023, Solana network transaction volume hit a low of $40 billion. The president of the brothers has been saying sol, sol, sol will inevitably become the brightest boy in this bull market. In addition to sol, Ethereum Layer 2 will become the brightest boy in this bull market. Because many overseas chain games are currently building blockchain-based facilities on the sol ecosystem. Sol itself is a currency with actual application value, not a purely hyped altcoin, and brothers can feel free to rush in.
In terms of spot market: The president has been saying that Bitcoin can be bought at a price around 40,000 to avoid the anxiety of missing out later. In this bull market, 40,000 is a very strong support position, and the only obstacle for Bitcoin to break through 100,000 in this bull market is a matter of time.
In terms of contracts: Today, the president’s suggestion is to set stop-profit and stop-loss, and go long at low levels. The specific points will be explained to the brothers in the community.
Feel like you don’t understand the market? Don’t worry, come to Lianyanshe to find President Long! Can’t read charts? Don’t understand contracts? Don’t worry! Here, we not only teach you how to understand the market, but also deeply analyze the basic knowledge of blockchain, investment currencies, and the background of each track.
