After the cryptocurrency "washout" storm, is the market rebounding imminent?

In the field of cryptocurrency, the recent short-term market correction is regarded as a "baptism" by many traders. They firmly believe that this is just the darkness before dawn, and a "bull market" rebound is coming.

When the US employment data unexpectedly exceeded expectations on June 7, Bitcoin, Ethereum and the entire alternative currency market experienced a significant fluctuation. However, many traders did not panic because of this, but instead believed that this was a signal that the market was adjusting and ready to go.

"This is a deep washout, and the impact on the alternative currency market is particularly obvious." A senior cryptocurrency trader who did not want to be named said so to his 848,000 followers on his social platform. He further analyzed: "This looks more like a self-purification of the market, washing away the impetuousness and leaving behind truly valuable projects."

Traders are paying close attention to the support levels of major projects. They know that only after experiencing the baptism and test of the market can truly valuable projects stand out. For investors, such a market environment also provides them with a good opportunity for screening and layout. They look forward to a new round of "bull market" rebound in the cryptocurrency market in the near future.

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