July 20, 2024 Grandpa
Previously, there were rumors that Trump would announce that "BTC will be used as a strategic reserve asset of the United States", which was later confirmed to be a market rumor. Recently, the founder of BlockTower Capital also came out to say that this goal will not be achieved in the next four years. Despite this, he also said that it is beneficial to the medium-term trend of Bitcoin. We expect that friendly policies will drive the rapid outbreak of the crypto ecosystem.
In fact, the overall development of the crypto ecosystem is already prosperous enough, which may not be obvious to non-practitioners. Whether it is places with a strong entrepreneurial atmosphere such as Silicon Valley or relatively closed places in China, there is no shortage of active entrepreneurs. In fact, to put it bluntly, it is because of the continuous wealth effect that attracts batches of newcomers to enter the market, and I also believe that these newcomers will gradually become the driving force for the development of the ecosystem.
The market tends to focus on price changes and ignore the reasons that affect price changes. The reason why I am determined to develop the encryption industry in the long term is because there are different excellent developers working and different fresh blood injected. For an industry, continuous positive development and cash flow are very important.
In terms of market conditions, after a slight retracement yesterday, it rebounded today and is currently trying to break through the pressure. This trend is still relatively healthy. The mid-term market conditions in the next stage remain optimistic, but there will be a slight retracement opportunity in the next 1-2 weeks. After multiple consolidation of support, once there is a topic to drive funds into the market, there will be a wave of unilateral upward market conditions.
Thank you for your attention and likes.
