The market has entered a bear market cycle. It is predicted that BTC will fall to 48,000-51,000 and ETH will fall to 2,500-2,600. Post this as evidence!
Top trader Eugene: Worried about a deep economic recession, it is recommended that the priority now is to preserve assets On August 6, top trader Eugene Ng Ah Sio shared some of his long-term views on market operations on social media, mainly including: 1. I am generally reluctant to actively go long when there is a lot of uncertainty and weakness in the market. 2. I have bought altcoins before, but I set a risk limit and stopped buying after Bitcoin fell below $60,000. I will not buy these altcoins again in the foreseeable future. 3. This decline is a combination of US election uncertainty + unwinding of yen carry trades. But I am most worried about a deep recession, as this usually triggers a deep stock market bear market, and cryptocurrencies have never experienced such a situation. We don't know how cryptocurrencies will perform in this environment, but if the current PA is a signal, then people will lose a lot of money by imitating too quickly.
Yesterday I posted a post "Bearish", and a few points rebounded in the morning, which attracted a lot of friends to scold me
Here I want to express again that I did not advise everyone to go short or long, nor did I predict the trend of the short-term market
I am analyzing the reasons for the rise and fall in the past few days, and from a technical point of view, the current trend of the market and the market atmosphere.
Continue to analyze the current market situation. The probability of interest rate cuts in September and November in the second half of the year begins to rise
The market has experienced a short-term rebound and was brought down by the US stock market. The market is still very weak. It has not stood on the ma120 moving average and is suppressed below. The expectation of interest rate cuts has come. The market in the next 3-5 months must be bullish. As for the short-term trend in August, there is no 100% certainty!
My personal opinion and suggestion is that when the market is relatively weak and the market is mainly bearish, don’t blindly guess the bottom (go long). If you want to buy the bottom of the spot, you can do it at any time! Because the crypto market is changing rapidly, whether there will be a needle, whether your long orders can withstand it, and whether you can hold on to BTC10w by the end of the year are all unknown, so it is important to go with the flow. Friends who see this, don’t spray blindly, and communicate on an equal footing in the forum
Yesterday I wrote an article about "being bearish", and a wave of rebounds in the morning attracted a lot of friends to scold me
Here I want to express again that I did not advise everyone to go short or long, nor did I predict the trend of the short-term market
I was analyzing the reasons for the rise and fall in the past few days, and from a technical point of view, the current trend of the market and the atmosphere of the market.
Tonight's Fed unemployment benefits exceeded expectations. The market fully defines that the Fed will cut interest rates three times in 2024. US stocks are going down, and Coinbase stocks are also going down
Bitcoin once again broke through MA120 MA140 in the early morning of August 1, and under the stimulation of good news tonight, it still did not stabilize and fell further. The market began to go bearish
From the perspective of short-selling potential, the one-hour level line, the early morning decline occurred at 3-4 o'clock, and the selling range was 2000-3000 big cakes
The two big negative lines in the evening appeared at 10-11 o'clock, which was ahead of schedule. Affected by emotions, if the downward trend is maintained tonight
Then the Asian period tomorrow will continue to fall
70,000 is a short-term, insurmountable threshold in August, but there is unlimited space to go down! ! !
The high point of this round of BTC bull market will not exceed 100,000
The reasons are as follows
1. The high point of the previous bull market was 19,000, and the high point of the previous bull market was 69,000, with an increase of about 3.6 times
It is expected that this round will increase by 1-2 times
2. From the analysis of the market value of the currency circle, the last bull market reached its highest point in November 21, 2.8 trillion US dollars
The base of the currency circle is already very large, and the estimated high point is about 4-5 trillion US dollars
3. From the fundamental analysis, the big bull market in 20 years and 21 years, during the special period of yq, the Federal Reserve’s zero interest rate and the stimulus of 4 trillion US dollars in water release, the global financial market is basically in a big bull market And the current fundamentals do not support
Therefore, it is expected that the high point of BTC in this bull market will be 8-10w
Looking back at the market sentiment, there has been no panic for half a year
BTC SOL has now fallen below MA140, and the bull market support level has been broken; From a subjective point of view, it is difficult for BTC to fall sharply, with ETFs as the bottom. Are ETFs also bought by leeks? Will panic lead to stampede?
So based on my feeling, BTC will not fall sharply in the summer off-season, and will bottom out at 6w or 6w1, or break through the top of Tian5
BTC is affected by the summer cold weather, and the market is sluggish and is currently running below ma120 (64,000)
It is expected to fluctuate periodically (63,000-66,000), and it is difficult for the big cake to fluctuate significantly! #BTC
Most of the altcoins have fallen below mac 140 and entered an extremely depressed period. Whether they can drive it depends on the news of ETH ETF and interest rate cuts#ordi #high #sol趋势 #high
1. The market expects that there will be news about ETFs around July 5
2. US inflation continues to decline, and the August CPI data is expected to be positive. The probability of a rate cut in September is 55%
3. If BTC can stabilize above ma140 (63,000), the altcoin will slowly stabilize during this period. Later, the good news will come out to stimulate the market, and time will be exchanged for space
1. Bitcoin is stuck at a historical high, and the expectation of rising is strong, but there is a lack of big positives to build consensus and rush up
2. ETH's ETF application next week is not expected to be approved by the market, but after the negatives are implemented, the impact is not expected to be too great
3. The cottage market is suppressed by the market, and the old leeks are cautious about cottages. When there is no signal of charging
The cottage coins follow the small fluctuations of Bitcoin, and jump up and down
4. The meme sector is blocked at a high level. At present, there is an expectation of big dealers to ship, and it begins to fall and weaken
The current market logic is like this, and we look forward to the change in the market. . .
Some people actually analyzed that the flash crash of #pepe回调 #wif was due to the explosion of GME GameStop
Isn’t it funny? GME’s stock price started to fall back on the 14th, and now it has fallen to 80%. Now people in the cryptocurrency circle are beginning to think that meme coins will follow suit?
Cleared out!!! No AEVO left, lost 70%, junk project!!!
Reasons are as follows 1. AEVO has gone through three rounds of financing, and the final valuation is 250 million US dollars, with a total of 1 billion coins, and the valuation is 0.25
2. AEVO tweeted that RBN can be exchanged for AEVO at a one-to-one ratio, and RBN has been hovering at 0.1 before
3. The information about the huge amount of unlocking may be true, and the AEVO dealer is not doing anything, and has been exchanging
Generally speaking, it is easy to pull new coins and there are few hold-ups. There is a good chance of choosing new coins, but you need to screen and beware of capital market!
2. When to buy?
For the primary market that has not yet been listed on the exchange, everyone must be cautious and cautious. There are many scams, and most of them are just cutting off one crop and leaving. Therefore, you need to carefully study the background of the project party.
For those who are already on the exchange and have just listed on the exchange, they may face a sell-off and have chips from private placements, or chips obtained from other airdrops or decentralized dapp transactions.
The time when the market is down is the stage when the new currency market is relatively thorough, and it is also an opportunity for us to slowly accumulate chips at a low price.
As the market goes bullish, the new currency’s amplitude will be much greater than that of the old currency.
Let’s make a summary and study the background and potential of these new coins.