The time for the bull market to fully start is not far away. Keep your confidence, my friends. The current market trend has reached the final stage of the wash-out. The following base points are for your reference.

1. Negative factors have been completely digested

1. Mentougou has landed. The Mentougou incident is like a time bomb, always disrupting the market rhythm. Now that Mentougou has been fully landed, the selling pressure of 140,000 BTC is not large, and there will be no negative impact of Mentougou compensation in the future. Waiting for the selling pressure to be digested to pave the way for subsequent increases.

2. The altcoins have fallen sharply. The decline of altcoins in this round of wash-out has exceeded expectations. The bubble has been fully digested. Many altcoins with too high FDV have fallen to a lower position. Retail investors have been seriously hurt and fled in large numbers. The subsequent selling pressure has been reduced, which will provide the necessary conditions for the subsequent take-off.

3. The panic index has reached the panic level. Every time it reaches the panic level, it is basically at the end of the wash market. Market sentiment will gradually recover and pave the way for takeoff.

4. The chain is sluggish. BTC and ETH chains continue to be sluggish, and GAS fees are extremely sluggish. Every time the chain cycle is sluggish for more than 2 months, it is a favorable signal that a rebound is imminent.

5. Futures positions are significantly reduced. At the beginning of June, the BTC and ETH futures positions were at historical highs. The market leverage rate was too high. The current positions have dropped to the positions at the beginning of May, paving the way for subsequent increases.

6. SEC’s regulatory attitude has eased. In the past two years, SEC has been unfriendly to the crypto market, which has caused panic in the cryptocurrency circle. At present, SEC may have been affected by the election and its attitude has eased. It has approved BTC ETF and ETH ETF. In addition, many altcoins that have been targeted by SEC have shown good news recently. SEC is no longer targeting

2. Positive expectations

1. Ethereum spot ETF is about to be listed. Ethereum ETF will bring new liquidity to the market in history. It is expected to be 1/3 of the big cake, which will drive ETH to rise sharply and drive the overall rise of ETH ecological tokens.

2. The Federal Reserve cuts interest rates. As expectations of rate cuts increase, the first rate cut may come in September. Market confidence will be greatly restored. After the rate cut, it is expected that the liquidity of the cryptocurrency market will return, which will become the main driving force for the start of the bull market.

3. Traditional institutions officially enter the market. This round of institutions is not the Grayscale of the previous round, but traditional giant institutions. Many institutions such as BlackRock and Fidelity enter the cryptocurrency circle. Huge amounts of funds and a large amount of liquidity enter the market at the same time. The average price of BTC of institutions is not low. There will be strong driving force in the future, which will be another powerful driving force for the start of the bull market.

4. FTX compensation funds enter the market. In October, the 14.5-16.3 billion U.S. dollars that FTX can distribute will determine whether it will be approved. If approved, it is expected that more than 10 billion additional funds will flow into the crypto market, becoming another powerful driving force for the start of the bull market.

5. Looking back at the historical market, 3-4 months after each round of BTC halving is the stage moment for the bull market to start. BTC and ETH start to rise slowly, but are not ready for the main uptrend. It has been almost 3 months since BTC halving, and the time node is approaching. Just wait for the bull market to start.

To sum up, the time for the bull market to start is not far away, and the subsequent market will become optimistic. Old irons should keep their original intentions and grasp this round of bull market. It is difficult to predict whether there will be such a strong driving force in the next round of bull market in the currency circle. The opportunity is in front of us. Persistence is victory. The long-term deployed currencies will definitely have good gains in the second and third quarters of next year.

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