September 3, 2024
Bitfinex released a 36-page BTC report, which predicted the short-term, medium-term and long-term market trends of Bitcoin from the perspective of interest rate hikes. The core point of the report is that September will be an overall decline, but it will also be the last decline. It is judged that 40,000 to 50,000 is the lowest point before the bull market starts, or the iron bottom.
The overall market forecast is not completely consistent with my thoughts, but it is not much different, especially the confidence in the bull market next year and the bottoming time of the market. I have expressed similar views many times. Now with the support of Bitfinex's 36-page research report, I think we should be more confident about the market next year.
The short-term market is the same as what I said in the past few days, "bottoming out and rebounding", but this bottom is not a big bottom, and the rebound is not a surge, at best it is still a volatile market. This time is boring for most people, but if you take part of the position to do short-term, it may make the operation more "interesting", especially the recent short-term rhythm is very good.
As for Bitcoin, it is still running below 60,000, but the current liquidity is still very poor, so 65,000 or 55,000 is just a matter of a wave of market. At present, I still prefer 65,000 first. Even if there is an overall decline in September, it will not prevent a wave of rise first. Moreover, there are research reports on the bottom of 40,000-50,000, so we can feel more at ease holding the spot. In addition, if there is another big drop, we can continue to buy the remaining positions.
Thank you for your attention and likes.
