There are 5 days left before Bitcoin halving, and there are less than 1,000 blocks left. Institutional investors are getting closer and closer to the halving. After Bitcoin plummeted, ETF holdings were exposed, and institutional demand became a new driving force. Before the halving, there are risks and opportunities!
Unlike previous Bitcoin halvings, institutional demand is new, with BlackRock’s IBIT and Fidelity’s FBTC ETF topping the group.
BitMEX Research reported that the two spot ETFs held 405,749 BTC as of the close of trading on April 12. The upcoming Bitcoin halving suggests that Bitcoin prices are likely to continue to grow in the coming months.
After the halving in the first half of 2012, Bitcoin rose by nearly 7,000%. In the months after the halving in July 2016, the price rose by 3,000%. In the months after the halving in May 2020, the price rose by about 1,000%.
According to IntoTheBlock, the upcoming halving is different from previous halvings. Unlike the previous three halvings, the current spot Bitcoin ETF provides a new source of demand from the institutional sector. If there is another halving, Bitcoin may hit 100,000!
In addition, the world is waiting for the Tophis Institute’s annual report on the benefits of mining computing power. The annual report will be released at the conference in May!
As the Bitcoin halving approaches, altcoins have collectively plummeted recently, just like a copycat version of 312, and the market atmosphere is full of panic! But what’s interesting is that the degree of panic in altcoins is often proportional to the subsequent increase. When there is a panic, many people choose to sell, giving institutions and big investors the opportunity to take over at a low price.
After the panic, the market often ushered in prosperity, and those bloody buns turned into gold! Before the bull market came, the main trend of altcoins was frequent short-term shocks and continuous declines, which was the operating strategy of the main funds.
Short-term fluctuations attract people to chase ups and downs, while continuous declines force undetermined investors to sell. All of this is to prepare for the later outbreak. On the eve of the bull market, the main force creates panic, and everyone is eager to sell, while they buy at low prices. When the bull market returns, those who sold can only watch the main force enjoy themselves on the yacht.
In fact, as long as you don't sell, the dealer will be helpless. As long as you are determined and make friends with time, the bull market has not ended yet, and even the real bull market has not started yet. If you sell at this time, you will really lose!
In this case, we need to hold the spot calmly and consider adding positions at the right time. It is expected that in the next two weeks, the altcoin is expected to return to the upward track, but it is not ruled out that it will fall back again and rise again! In the bull market, flash crashes are the norm, and deleveraging after flash crashes can lay the foundation for better rises!
At this time, many friends may ask, should we buy or wait and see? The key depends on how you view this market, do you want to buy or just keep bearish!
If you have always wanted to buy: the only difference between buying now and buying later is that if the price is higher later, you will regret why I didn’t buy it when the price plummeted.
If you buy at a lower price later, you will regret it. I went all in during the last crash, why not keep it and go all in now? This will lead to a problem. It seems that unless you have the ability to foresee the future, it will be in vain!
Compare your own psychological price. For example, if you bought SOL at 200, 180, and 160, and now it is 140 or even as low as 112, why don’t you buy it?
Remember in 2021, everyone said that when SOL fell to 10U, they would sell their houses and go all in. Then when it fell to 8U, everyone was already looking at 0! So, the price in your heart will fluctuate with price fluctuations!
Next, there are a few points to pay attention to:
1. The black swan may have arrived, but it is not the black swan of Bitcoin, but the black swan of altcoins.
2. Bitcoin is backed by institutions such as BlackRock, MicroStrategy, Ark, and Fidelity. A sharp pullback of more than 50% is impossible. 60,000 is a strong support and 53,000 is an extreme support. After all, institutions are buying at 70,000, and they will continue to buy at 60,000 or even below.
3. If it continues to drop to 53,000 and hits 48,000, the purpose is to clear long contracts. If there is still smart money, you can go all in at this position. Don’t wait for Bitcoin to reach 38,500. It’s very difficult. A lot of money can’t buy a bull back!
4. If you still have funds, invest in previously strong altcoins. Believe that the strong will always be strong. Choose coins that can’t fall any further. The harder they fall, the more locked-in coins there are. Look for coins with low market capitalization, coins with good fundamentals, and coins with capital to protect them!
5. The Hong Kong Bitcoin ETF was approved on Monday, and the national team entered the market in a big way to buy BTC. After the Bitcoin spot ETF, the mainland attracted 150 billion yuan, most of which will enter Hong Kong through the Shanghai-Hong Kong Stock Connect program.
The first two national teams approved are Harvest Global and China Asset Management. According to the official website of the Hong Kong Securities and Futures Commission, Harvest Global and China Asset Management are both large national teams controlled by central enterprises. Harvest was established in 1999 and is one of the earliest 10 fund management companies in mainland China. China Asset Management was established in 1998 and is one of the first national fund management companies in China.
