Surprise 618 Shanzhai crash

“618” discount promotion, Shanzhai hits a new low again!

Bitcoin fell less than 2%, other Shanzhai collapsed, and Chinese people got up in the morning and panicked and dumped the market. The market has been too difficult and too painful recently. BTC has fallen for half a month, and many Shanzhai have fallen by 30%. In this bull market, Shanzhai will never fall enough, and the bottom-fishing will never reach the lowest point. There are too many Shanzhai to buy. In this market, V God has to go to Web3 to set up a stall. I know that if I can't bear the 70% plunge, then I won't be able to enjoy the 7% surge in the future.

Analyze several reasons for the sharp drop of Shanzhai:

1. After the halving of Bitcoin, the operating costs of mining companies have increased, and they need to sell Bitcoin to obtain operating funds or purchase new equipment to improve their own mining capabilities; on the other hand, smaller mining companies may have been unable to continue, and can only sell Bitcoin to take profits and close mining business. (That’s why the mining difficulty has decreased, but miners continue to sell BTC)

2. The current market is pessimistic. Wall Street is not optimistic about altcoins. Bitcoin ETFs have a net outflow of $580 million in recent days

3. There are too many new coins launched too frequently. Every time Binance launches a new coin, the new coin will pull back. ZK, which was launched this time, is currently being criticized badly, and the new coins IO NOT BB ULTI have fallen badly. In the final analysis, the valuation of the new coin is too high, and there will be a continuous release later. This round of bull market has no good narrative to drive the market FOMO!

4. Dog dealers only ship goods and do not protect the market! Most retail investors no longer have a pattern of altcoins!

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