The Mentougou incident has released new progress again:
According to Bloomberg, the Mt.Gox trustee announced that it will start the repayment of Bitcoin and Bitcoin Cash.
As soon as this news came out, BTC fell directly from 6.28 to 6.05. With such a big drop, how should we operate:
Recently, the club's judgment on the market has expressed that: due to the pressure from the Mentougou incident, even if the market rises, it will not rise that much. And now the Mentougou incident has announced new progress, which has put two more feet on the already shaky market.
Although it is said this time: compensation will begin. But the final time for compensation is October, which is still a while. Secondly, the specific compensation details have not been announced: through which exchange to compensate, whether it is a one-time or batch compensation, whether KYC is required, etc., are all problems.
So we need necessary hedging at the moment, but there is no need to panic too much. What should we do next:
1. If there is spot on hand, that's good
2. Reduce the position of the contract by 40% to avoid pins.
3. You can buy the bottom of $BNB and short $BCH. The main reasons are: BNB has favorable support such as Launchpool, megadrop, BNBHODLer, etc., and every decline is an opportunity; BCH is because this time, in addition to BTC compensation, there is also BCH compensation.
