Night market analysis:

1. The current market is in the wash-out stage. The previous increase was too large, and the monthly line has been rising for 7 consecutive months, so it is necessary to clean up the profit-taking. In the short term, Bitcoin may fall to around $61,000, then rebound, and then continue to fall to around $50,000.

2. If Bitcoin rebounds, this is an opportunity to get rid of the weak and keep the strong. Investors should consider clearing out poorly performing altcoins, especially those low-quality projects. During the decline, it is a good time to reorganize positions, and you can buy Bitcoin and Ethereum spot in batches.

3. Many investors followed the trend and bought altcoins during the first half of the bull market. Through this wave of decline, everyone should have seen the anti-fall ability of altcoins. 90% of altcoins have fallen below the starting point of the bull market.

Through this wash, I believe everyone knows that it is time to choose high-quality currencies. As the old saying goes: Only when the big waves recede can you know who is swimming naked.