July 11, 2023 Grandpa checks in

Last night, the big cake had a short-term spike, reaching a high of 31,000, and then fell back to around 30,000 before the rise. This sudden attack is likely to be a test of pressure. Generally speaking, before a significant breakthrough in the range limit, the main force needs to test the market to determine the amount of funds needed, so as to determine whether the time is ripe. If it is not ripe, it will continue to change the chip structure through the volatile market before taking action. At this stage, the big cake has maintained daily-level volatility for some days. The main force has reason to do some test trading before the breakthrough. This kind of test trading is often in the direction of a greater probability of breakthrough, that is, the probability of a short-term breakthrough upward is still relatively high.

While the big bitcoin is trading sideways, some mainstream and copycat currencies are also pulling up the market. For example, COMP, as one of the representatives of blue-chip DeFi, pulled up the market again after a pullback. The pull-up of coins like this is a good signal that funds are paying attention. However, as I have been mentioning recently, mainstream coins can only rotate and there is no collective rise. Insufficient funds in the market are the biggest obstacle to the rise of the market at this stage. Therefore, in terms of operation, while looking forward to the short-term market, we operate cautiously. When encountering coins that have risen too much, we will take partial profit-taking operations.

In the past two days, BN has launched a new round of Launchpad, and the price of BNB has also been boosted. After the last wave of BN being sued by the SEC, the price of BNB has been under pressure and has not performed as well as the market. Regarding BNB investment, my suggestion is to configure it as an interest-bearing asset. Don't expect to make too much money from the price increase of BNB in ​​the short term. While configuring it as an interest-bearing asset, enjoy some potential long-term benefits, because if you look at it according to the company's market value, the current market value of tens of billions of US dollars still has growth potential.

There is little news about Ethereum recently, so its price is also linked to Bitcoin. Don't forget the core assets we invest in in the B circle. While paying attention to short-term prices, we must understand that it is only a matter of time before long-term value growth leads to price increases. In the future development of Ethereum, there will definitely be traditional funds buying Ethereum to increase their returns through Staking. This is what some people are doing now and it is also a trend. With the passage of ETFs, it is only a matter of time before traditional funds enter again. We just need to wait patiently and do things well during the waiting period.

Thank you for your attention and likes. #Comp