To understand this problem, we first understand the main reason for this decline

Bitcoin plummeted from a maximum of 64,000 US dollars to 29,000 US dollars. Some people attributed it to the Chinese government's crackdown, wrong! Before the Chinese government issued a document, Bitcoin had already begun to fall, and the dealer just took the opportunity to smash Bitcoin even lower.

Some people think that the culprit of this decline is Musk, which is also wrong! Musk is just a shit stick. The main reason for the real decline is that Bitcoin rose from more than 10,000 US dollars to more than 60,000 US dollars. There was basically no particularly big callback. Two of the callbacks were also V-shaped reversals, and the market accumulated. A large number of profit-making chips appeared at the same time due to a variety of reasons this time, which contributed to the market's collapse.

So is the bull market still there?

1. Many institutions (listed companies, fund companies) are preparing to enter the cryptocurrency market. Some institutions have not yet begun to buy due to the price of Bitcoin. This drop just created an opportunity for institutions to enter.

2. The wallet addresses of Bitcoin predators have increased by more than 120,000 Bitcoins during this decline!

3. The Chinese government's supervision is basically implemented: in terms of mining, it mainly cracks down on the use of coal and electricity to mine, and in terms of transactions, it mainly cracks down on the use of bitcoin, stablecoins and other crimes. At the same time, it tightens contracts and leverage (the central bank talks about Huobi , Li Lin and Xu Mingxing, the actual controllers of Ouyi, require that new users not be allowed to open contracts and leverage functions)

4. The continuous release of the US dollar has allowed gold to open an upward channel, and Bitcoin, which is more like gold than gold, will also reopen the upward channel!

5. CBDC (central bank digital currency) projects in various countries are in full swing, and the blockchain technology formed by the underlying technology of Bitcoin is forming a strong social consensus.

Predict the market trend in the next stage (short-term price trend ask God): The market repair period is about 1-3 months. It is not ruled out that the market maker uses the news to suppress the currency price again. Once the market sentiment stabilizes, the second half of this bull market will break out. Amazing energy.

To understand this problem, we first understand the main reason for this decline

Bitcoin plummeted from a maximum of 64,000 US dollars to 29,000 US dollars. Some people attributed it to the Chinese government's crackdown, wrong! Before the Chinese government issued a document, Bitcoin had already begun to fall, and the dealer just took the opportunity to smash Bitcoin even lower.

Some people think that the culprit of this decline is Musk, which is also wrong! Musk is just a shit stick. The main reason for the real decline is that Bitcoin rose from more than 10,000 US dollars to more than 60,000 US dollars. There was basically no particularly big callback. Two of the callbacks were also V-shaped reversals, and the market accumulated. A large number of profit-making chips appeared at the same time due to a variety of reasons this time, which contributed to the market's collapse.

So is the bull market still there?

1. Many institutions (listed companies, fund companies) are preparing to enter the cryptocurrency market. Some institutions have not yet begun to buy due to the price of Bitcoin. This drop just created an opportunity for institutions to enter.

2. The wallet addresses of Bitcoin predators have increased by more than 120,000 Bitcoins during this decline!

3. The Chinese government's supervision is basically implemented: in terms of mining, it mainly cracks down on the use of coal and electricity to mine, and in terms of transactions, it mainly cracks down on the use of bitcoin, stablecoins and other crimes. At the same time, it tightens contracts and leverage (the central bank talks about Huobi , Li Lin and Xu Mingxing, the actual controllers of Ouyi, require that new users not be allowed to open contracts and leverage functions)

4. The continuous release of the US dollar has allowed gold to open an upward channel, and Bitcoin, which is more like gold than gold, will also reopen the upward channel!

5. CBDC (central bank digital currency) projects in various countries are in full swing, and the blockchain technology formed by the underlying technology of Bitcoin is forming a strong social consensus.

Predict the market trend in the next stage (short-term price trend ask God): The market repair period is about 1-3 months. It is not ruled out that the market maker uses the news to suppress the currency price again. Once the market sentiment stabilizes, the second half of this bull market will break out. Amazing energy.