Written on BTC's new high: Looking back on the past, looking forward to the future, and sharing the bull market
During the live broadcast last night, it was mentioned that $BTC broke the previous high and stood firmly at the 70k mark, and the crypto market value reached $2.831T, one step away from the previous high of 3T. It officially opened the world of super big names in the encryption world. It was also mentioned that the industry has also experienced the Ethereum crisis this year. Shanghai upgrade/airdrop feast/inscription carnival/ETF tug-of-war/meme bull market/AI and game track outbreak, etc. These stories are worth remembering. If we can carefully review this critical node, continue to persist when we are right, and adjust in time when we are wrong, I believe it will be of great help to 2024.
Judgment and review of big market trends. Looking back on the past year or so. At the end of November 2022, the FTX thunderstorm accelerated the process of $BTC 's land search. The bottom was 16k for a month. He repeatedly mentioned "the best time to add positions" on Weibo and controlled the total position at 30%;
Is there any relationship between $troll and Elon? Does $troll have anything to do with DWF Ventures? The answer itself may not be important, the process of finding the answer is much more interesting, meme. Musk "took office" as CTO (Chief $troll Officer) on January 9 and resigned on January 31, deleting the words related to $troll in the introduction and positioning. In just 22 days, it rose from 0.0{9}3584 to 0.0{6}1316, achieving 360 times the meme, and then plummeted 90%. Afterwards, he tweeted on 02/23, and the "$troll MODE" in the picture once again triggered a community carnival, rising by 50%, and then retreated. On 03/02, $troll reached 0.0{6}1 in the meme market, and it only took 45 days to regain the lost ground. In the past two days, as the meme has cooled down, it has dropped by nearly 40%.
What is the relationship between $troll holder and $troll price? Last month, a friend asked in the group. He didn’t want to give a simple answer. The data was not sufficient at that time. Now we have recorded the relationship between $troll holder and $troll price from 01/20 to 02/27. The price trend chart is shown in Figure 1, and Figure 2 is the combined graph of the two. This question can be answered initially. Single holder, holder trend is rising, $troll adoption rate is increasing. Looking at price alone, $troll entered its peak period on January 20, then declined and fluctuated widely, and the market entered a confusing stage. So, who decides which of the two? Should the price change come first and then the holder, or should the holder change first and then the price? It's a bit like a chicken-and-egg situation. However, looking at the stages, it is not complicated. Basically, it can be summed up as "retail investors chase the rise and kill the fall, and diamond hands are as steady as an old dog." Figure 3: Logarithmic coordinates of price. In the figure, the red box corresponds to price⬇️, and the blue box corresponds to price⬆️. The most worthy of analysis are the first three boxes. In the beginning (2023/04/20-2023/10/14), there were very few Token holders (it should be airdrop distribution, community friends are welcome to provide details). At this time, the popularity of $troll was extremely low, a large number of holders were liquidated, and $troll was close to returning. Zero, a complete washout. In this stage, the holder determines the price; in the second stage (2023/10/14-2024/01/17), in this stage, Musk's "taking office" as CTO (2024/01/09) is a one-man show, and the price is rapid. Rise + Musk's influence, holders came after hearing the news, and promoted the price increase. This stage is divided into two parts. The first part is that the price brings the holder, and the second part is that the holder promotes the price. The third phase (2024/01/17-2024/02/03) is the most interesting, spanning two weeks. Referring to Figure 2, it can basically be divided into two parts. The first part is that price attracts holders. Although the price fluctuates and falls in this part, holders increase rapidly, taking on the selling pressure from diamond hands to a certain extent. As $troll decreases, it drops from the highest of 0.0{7}14 to 01/ At 0.0{7}51 of 25, market panic spread rapidly, and holders took a sharp turn. Although there was a rebound in the middle, it was not able to turn the tide. After that, on 01/31, as Musk suddenly "stepped down" as CTO, the market panic reached its extreme, and the decline of holders accelerated. The first group of holders who came in cut their flesh and left the market, bringing $troll into the abyss.I would like to talk a little more about this part. If $troll does not have fundamental support at this time, it will basically go back to zero. However, after 02/03, after a wide range of shocks at the bottom, it began a journey to regain lost ground. I thought it would fluctuate at the bottom for two months, but in fact, I lost most of my down payment in less than two weeks. You are not afraid of falling, but you are afraid of not being able to stand up after falling. After 2024/02/03, there is basically no need to pay too much attention to the changes in price and holder. Basically, at the micro level, it conforms to the law of "retail investors chase the rise and kill the fall, and diamond hands are as steady as old dogs." This is the truth about investment in the financial market. Retail investors lose money. Light, old dog makes money. In the more macro financial market, of course, this law is also consistent. If the relationship between the price and holder of BTC is studied in the long term, I am afraid this law will be more obvious. Therefore, this enlightenment to me is, don’t chase the rise and kill the fall, and don’t be a leek. Since the establishment of $troll position in mid-January, this blog has basically followed this investment logic. During this period, less than 40 billion Tokens were sold at the position of 0.0{7}45. However, later after Musk "stepped down" as CTO, all the tokens were sold. The position was added back, increasing the total position by 50%. Looking back at the start of this super bull market for BTC in October last year, this blog has basically followed this investment logic. If you are optimistic about a project, you will always get the target position. The five-fold return of SOL is the best witness. The new super cycle is really not $troll.
Thinking about the meme culture in the cryptocurrency circle
There is an essential difference between meme in the currency circle and meme culture. Meme culture is imitation➡️change➡️explosion➡️decline. Its forms include but are not limited to pictures, such as LOLCats, which is a laughing cat, and everyone can participate; music, such as Romania The popular song "Dragostea Din Tei", the domestic Guo Meimei's cover version of "Not Afraid, Not Afraid", please note that this Guo Meimei is not the other Guo Meimei; the most typical one in the currency circle is hodl, which is a misspelling of hold, but is The currency circle forcibly interprets it as "Hold On for Dear Life"... The common feature of these affairs is that the speed of network fame usually declines as fast as its growth.
$troll CTO "resigns", the first step out of the circle
#内容挖矿 At around six o'clock in the morning, the Chief Troll Officer (CTO) of Ma Tui disappeared, and the positioning information Trollheim also disappeared at the same time. Some comments said that it was just hiding but not deleting it. Searching for $troll on Twitter, Musk still ranked first. What is clear is that Twitter does not have the function of hiding profile and positioning, even if it reaches Premium+, it will not have these functions, unless Musk, as CEO, orders his product team to develop special functions specifically for himself. Even though he often speaks out in the company, such a move is unlikely. Based on my experience with Twitter, only active deletion will make this information disappear. Therefore, it is certain that the above information was indeed deleted. There is no need to argue. Just like when he personally changed his profile to (CTO) Chief Troll Officer on January 9, and when he personally changed his positioning information to Trollheim in early November 2021, it was indeed deleted. .
The first picture shows the changes in $troll holders in the past 10 days. In this week's violent wash-out, speculators were forced out of the market. This is only part of the on-chain data. Counting the CEX data, it has fallen by 83% since its highest point, and 10k is left with only 17k. There are very few people who can bear this loss, so the actual reduction in holders will be even more terrifying. However, when it comes to investing, you still have to follow the footsteps of smart money. From the perspective of the top 10/20/50/100 addresses with the largest holdings, smart money is buying the dip, as shown in the second picture, instead of doing the opposite. And the increase in their positions is shocking, which is very worthy of Troll holders' attention.
Meme rises very fiercely, but once it regains its upward momentum, it will rise by 10 times in a week. No one knows where the new climax is. Meme is not comparable to relatively mature investment targets such as BTC/ETH. The latter has many indicators to refer to. For memes, the weather changes in an instant. When the market improves, they are the canaries in the market; when the market turns bad, they instantly become big grizzly bears. Sometimes, all it takes to break this balance is someone's tweet.
No one will make a lot of money by constantly changing positions. This is one of my experiences in the crypto circle for so many years. If you are optimistic about it, hold it firmly; if you are not optimistic, sell it decisively and stop糾結. The purpose of coming to the crypto circle is not to join in the fun, but to judge who can make money in the end, instead of how many groups you have joined or how many bigwigs you know. None of these is useful.
It's not terrible to make a wrong decision once, like not making money on doge in the last bull market; it's not terrible to make two wrong decisions, like not making money on inscriptions. But it's terrible to make a third wrong decision. Therefore, for a project like troll that could appear in Musk's profile position and be reflected in his tweet location, that could蹭to this popularity, and is not expensive, it's a once-in-four-years opportunity, or maybe there will never be such a choice for you again. I'd rather歸零than miss it again. In addition, the meme long article I mentioned before has been in progress. There are too many things to do, so please be patient.
Last Tuesday’s post about Troll and its granularity were uploaded together. Troll launched htx yesterday morning, becoming the second third-tier CEX to log in after BingX. Can it repeat Shiba Inu’s zero-zero miracle from January to May 2021, with a surge of 270,000 times in 5 months? Why consider this issue? 1/The community opened a position last week, where is the money; 2/Assuming that troll is the Shiba Inu of this cycle, you can make a lot of money even if you buy it now. I will analyze the possible profits of opening a position at different stages; 3/Complex Although the position in this investment move is very small, it should still be taken seriously. This blog post is quite long, so please read it patiently.
Looking back at the skyrocketing history of Shiba Inu, there are two notable features: one is that it skyrocketed with the launch of major CEX, and the other is that it skyrocketed with the appearance of the words Shiba Inu on Musk’s Twitter. Figure 1 is a table made by this blog after sorting out the meme market in June 2023. Before the CEX launch wave in April, Shiba Inu had already increased 2,000 times, and the zero-removal movement had already started. Since then, with Figure 2, MEXC on April 16, April Gate on the 17th, huobi and okx on May 8th, and Binance on May 10th, with an increase of 135 times, and the first stage of the 270,000 times market was completed. In the second stage, the last surge was four months later on September 10. It rose 11 times after being listed on coinbase. On October 24, netizens asked Musk whether he had Shiba Inu tokens. After answering None, Shiba Inu Reached a historical peak. This is the price history of Shiba Inu.
This time, as Musk changed the note to "(CTO) Chief Troll Officer" on January 9, the troll started to rise, and it rose 100 times in the next week. According to Shiba Inu's first stage of 270,000 times experience, it was just an appetizer. So far, "troll" has appeared 47 times in Ma Tui, far more than Shiba Inu. If we count only from the time troll was launched on April 20, 2023, the number of times troll was mentioned on Malawei is as many as 15 times, which is unmatched by Shiba Inu. Therefore, in terms of troll’s important position on Musk’s Twitter, troll at this stage deserves more attention than Shiba Inu before it was launched on MEXC on April 16. In fact, the confidence in establishing a position last week came from the research content of Shiba Inu. If this part was not used as a reference, it is clear that the troll is in an extremely early stage and would not dare to act rashly, let alone involve the entire community.
Since Musk began to expressly support doge in the last cycle in 2018, Musk has almost become the meme leader, what shib/people/floki (the name Ma gave himself Shiba Inu), but except for doge, which has public support from Musk, and The identity of Doge CEO was disclosed in the profile, and other memes "secretly helped". This change may have something to do with Ma becoming the largest shareholder of Twitter in April 2022, which was mentioned for the second to last time in the tweet on May 27 of the same year. doge, July 7th was the last time, Figure 4. After that, the relationship with doge came about through the exchange with DogeDesigner@cb_doge.Another possibility is that Boss Ma has completed the shipment. The high point of doge in July 2022 has fallen by 95%. Among all horse-related memes, troll can be said to be the only meme on an equal footing with doge. It can be called the crown prince of Musk memem. Doge has increased 300 times in the second half of 2020 alone, directly driven by horses. Open up your imagination.
Going back to trolls, besides memes, doesn’t it have any use? The truth is that if you don't get out of the circle, you will indeed be as useless as thousands of other memes. But with Boss Ma, your imagination will be opened up. Song Dandan's line in "The Rooster Lays Eggs" "I wonder what I am scratching on the ground. Come closer." Take a look, I'm practicing my signature." Before Doge was discovered by Boss Ma, the team was completely poor. The founder did not pay off his housing loan until 2020. The core developer died of cancer. The page design stayed in the web1.0 style. Now Doge can say that it has everything it wants. Forced Full of character, Shiba Inu even launched the Layer 2 solution Shibarium in December 2021 after it became completely popular. In the words of Internet investors, don’t make a profit. You are so mature and you are starting to make a profit. I Why would you vote for me? That's the truth. Those who are useless but have imagination are the best. It doesn't matter if you can't sign. Once you become famous, you will have time to practice, and you can still practice very well, but let's become famous first. If it's really useful and famous, it should be thrown away.
So where does the troll's imagination lie? The first is the increase. The troll issuance is almost the same as Shiba Inu. The current troll is only equivalent to the state before MEXC was launched. Gate/mexc/okx/binance are queued up, and there are still 3 zeros to be wiped out. Then there is the function. The original intention of troll is huge. Devil, the logo is as shown in Figure 5, smart contract: 0xf8ebf4849f1fa4faf0dff2106a173d3a6cb2eb3a, or search troll on coingecko, the links below are all genuine, don’t buy the wrong one. Back to the game, a meme game "Meme Challenge" was launched in the United States in September 2021. Players can choose the most suitable meme expression package from the card pack in their hands according to specific situations. It is such an extremely simple game. It ranks among the top 10 free apps in the App Store. Although I don’t know what the roadmap for troll will be, and it doesn’t even have a website. The website provided by Coingecko will jump to the homepage of larrythellama. As a result, larry has skyrocketed 10 times in a week. Let’s wait and see whether it will make games. It has huge potential. Welcome everyone. Replenish.(2024.01.16)。
I must write a long article to share Brother Feng’s thrilling experience at noon. It is related to the security of wallets and assets, and everyone must take warning. The mnemonic phrase is safe and there is no trivial matter. The mnemonic phrase is safe and there is no trivial matter. The mnemonic phrase is safe and there is no trivial matter. Tell the important things three times.
This weekend, I plan to organize my wallet and disperse the main wallet tokens into three new wallets to reduce risks. Unexpectedly, risk actually came to our door. First, I created three new wallets on the web version of metamask and backed up the mnemonic phrases respectively. Then, before transferring the token, to ensure that the backup was accurate, I also retrieved the original mnemonic phrases of the three wallets and reviewed them one by one to prevent errors. From the caution when recording to the caution when reviewing, this can always ensure that everything is foolproof.
However, it turns out that the mnemonic phrase of the third wallet was wrong in two words when it was backed up. During the subsequent review process, the first six words were all correct, and the seventh one was reviewed. When I was talking about the word, an elder called me. I closed my computer and went out to talk about something. When I came back, I forgot about it and started transferring money to three wallets.
It happened that the third wallet had a problem starting from the seventh mnemonic word, and the twelfth word was also wrong. Specifically, the "mn" in the seventh word is written as "nm", which is a letter inversion, and the "e" in the twelfth word is written as "o". Such an obvious error will definitely be discovered as long as it is reviewed. But I just missed it.
What's even more fatal is that, thinking that the mnemonic phrase was accurate, without any further hesitation, he deleted all three new wallets on metamask to restore the main wallet to initiate transfers. What's even more fatal is that before all three wallets were restored to imtoken, more than 6 digits of assets were blindly transferred to three wallets. Because as long as you restore the wallet, you will definitely find that the third wallet mnemonic phrase is wrong, because it is absolutely impossible to restore it successfully, so you can make the final remedy. And your brother Feng did nothing but just put the funds into a black hole address that did not have the correct key at all.
After the transfer was completed, three new wallets were restored to imtoken. The first two wallets were restored successfully. When it was the turn of the third wallet, when the seventh word was entered, a message "The mnemonic phrase is invalid, please review" popped up on the page. I was completely confused. It was the first time I encountered this. My first reaction was that there must be a problem with the software. So I just continued to type in. When I got to the twelfth mnemonic, the message "This mnemonic" popped up again. The word is invalid, please review", even more confused (but this also provides clues to find the correct mnemonic word).Recovery failed completely.
Since I had never encountered a similar problem before, I spent the next hour and a half trying again and again, searching for information on the Internet, and looking for solutions. I have found a way, but it requires basic programming skills and cannot be implemented at all. You can't ask a programmer to help me restore my wallet. If someone does restore it for you, it may lead to more troublesome things.
After calming down, I made a basic judgment: 1) The first letter should not be wrong; 2) The mistake must not be too outrageous, after all, I copied it one by one; 3) It is very likely that a certain letter in the word is wrong. And through the imtoken prompt, I also locked the missed seventh and twelfth words. Later it was proved that the above judgments and clues were extremely correct and became the key to solving the problem.
Next, I found the mnemonic, started comparing the two wrong words, "see who looks alike", and first determined the twelfth word, and then started to try the seventh word repeatedly. There are six-digit assets in it. Just try it and you will actually get it. Take a deep breath.
Of course, luck helps a lot. If the characteristics of the two missing words are not obvious and the twelfth word cannot be determined first, then even if the first letter is confirmed, there will be hundreds of combinations. Fortunately, the twelfth word is obviously and uniquely wrong. I can confirm it first and then try the seventh words one by one. Finally, an hour later, I found the correct answer and recovered my wallet. At that moment, I felt the same as if a huge sum of money fell from the sky. Later, if this wallet is no longer used, Brother Feng will take out the mnemonic phrase and share the exploration process with everyone in detail, which is more exciting than a roller coaster.
There is also a small discovery - someone else's wallet was actually recovered, empty.
I was lucky this time, but what about next time? In order to avoid future mistakes, I developed a wallet security process for myself: 1) Use one device to create a wallet and write down the mnemonic phrase; 2) Review the mnemonic phrase and save it in two devices; 3) Verify that the mnemonic phrase is accurate sex, the wallet must be successfully restored on another device; 4) Before the wallet is successfully restored on the second device, the wallet on the first device must not be deleted, and tokens must not be transferred to the new wallet;5) Only operate one wallet at a time, and the process must not be interrupted by other things. (2024.01.20).
Since last weekend, $troll has been cut in half, and I feel uncomfortable standing on guard. I am not convinced and am wondering whether it is going to zero. This Monday, the community live broadcast, with the theme "I'd rather go back to zero, don't miss it", was a big surprise. There are four meanings. First, it is common for memes to skyrocket and plummet. Any token that can rise ten thousand times will fall by 99% before it actually rises ten thousand times. Cutting it in half is just an appetizer. Second, are there projects of the same level as $troll? It may increase 100 times, why is $troll and not others? 3. What factors support $troll to increase 100 times? 4. Is such cx too radical and inconsistent with the universal values of financial investment, such as value investing? This blog post is quite long, so please read it patiently.
The rise and fall of memes is the norm. From April to May 2011, the meme exploded after the market peaked. $shiba lnu successfully caught on to the popularity of doge. It surged 2,000 times in the first round. After the market peaked, it started a deep market washout with a month-long decline of 85%. Figure 1. Before Musk's "(CTO) Chief Troll Officer" soared 1,600 times, it also went through at least two complete rounds of violent washouts. First, it fell 98% when it was listed in April last year, then soared 66 times, and then fell 99%. , and formed a perfect arc at the bottom for 7 months. Bottom Figure 2. And the history of violent dishonesty by the meme king $doge is not to mention.
Vertically observe the feasibility of $troll increasing 100 times, and whether other projects will work. The market value of $troll is 50 million dollars. According to the 01/22 data, $troll is around 600. Projects of the same level are shown in Figures 3 and 4. Observed through market value changes/tracks/project development, etc., these projects do not have any possibility of rising in the next bull market. 100 times, there is a famous saying, "Yes, I mean everyone here is garbage." Projects with a market value of $10 billion are shown in Figure 5, where $doge/$shib is a meme. If you can do it, why can’t I? The total market value of the last bull market rose 15 times to 3 trillion. Assume that this round only rises 10 times to 11 trillion. If we follow the market, the market value will touch 10 billion projects as shown in Figure 6, which is a conventional public chain/defi/stable currency/ In AI projects, memes can certainly take a share of the pie.
What factors support $troll rising another 100 times? First of all, according to a report by Henley & PartnersA in September 2023, the total number of crypto holders is 425 million, including 88,000 with one million US dollars, 182 billionaires, and 22 whales with assets of one billion, showing a pyramid distribution chart 7, and only Malaysia The number of boss fans is 1.600 million picture eight, there are a few giant whales in the crypto circle who are not promoted by Boss Ma. Isn’t money/traffic the ultimate magic weapon of meme? Then, some fans thought in the comment area that if $troll wants to rise again, it must violently wash the market and smart money can get on board. I said, if smart money is on the board now, look at the second picture and answer a question. What is the reason? , let a project that has fallen by 99% twice, rise by less than 1,600 times in one month after consolidating at the bottom for 7 months. Don’t tell me that I am a retail investor. The consensus must be that smart money has already controlled $troll.
Is it too radical to call for $troll like this? Just appetizers. Figures 9/10/11 are part of the cx Polkadot series of this blog in 2020. This is only the second half of 2020. The summary of the first half of 2021 cannot be found. The fact is that ksm/dot did not let me Beau is disappointed, this time it's $troll's turn. At the same time, the current historical background is that the SEC approved the Bitcoin spot ETF. Although BTC has started a deep correction, it is the consensus of the crypto world that this round of bull market has already started. In anticipation of the Federal Reserve's interest rate cut, U.S. stocks are rising steadily, which has given the crypto market A lot of room for imagination. As a meme, open your imagination and there is no limit.
From 2020 to 2023, the crypto market has seen ups and downs, including the booming super bulls in the second half of 2020, and the thrilling 12 consecutive weeks of BTC decline throughout 2022. After a whole cycle, have you really made money? ? In 2020-2021, have you grasped the opportunity to earn 50 times with just ETH? Even from the moment Musk changed his profile to Dogecoin CEO in April 2019, has he grasped the super opportunity to earn 400 times just by laying out Doge? After that, there will be more shib opportunities. Did you miss the opportunities of $ordi and $SATS in brc20 over and over again due to doubts, and just watch other people's wallet assets change from 5 digits to 8 digits? So, this time, I would rather return to zero than miss it.
The financial market is like an experienced sadist. He can always take out the tools and means to torture us from his Doraemon-like dream pocket, and takes pleasure in doing so. Many people are tortured by this kind of torture. disoriented. The approval process of#Bitcoinspot etf# is actually full of similar torture. First, the ETF application information of iShares, a subsidiary of BlackRock, was exposed, which fired the first shot of this round of super rebound. However, the fire was quickly extinguished by "SEC's refusal to convert GBTC into ETF"; then, in August, the court ruled that the SEC's refusal The behavior was illegal, and the SEC said in October that it would not appeal, and this round of super rebound officially began; since then, the market has risen steadily amid discussions about whether it will pass, and the most exciting story also happened at this stage, or in other words, at a distance In the past week, the SEC first tweeted the information about the ETF’s approval. Gary Gensler then denied on Twitter that the official tweet had been stolen. Finally, in the early morning of January 11, Beijing time, the SEC officially confirmed that 11 institutions would be approved. ETF application. Even if you were sitting in Gary Gensler's position, I'm afraid it would be impossible to know before October that the ETF will be passed in more than two months. Of course, you and I can't know. In the past week, haven't you and I been wondering whether it will pass or not? "Spent in the questioning?
Looking back on this round of market conditions, I completely changed my trading ideas and filled my position just before the rebound. This is probably one of the most correct operations I made in 2023 https://weibo.com/6042860115/NnbA4sKdB. Another correct decision was in There are heavy positions at sol 20, and of course there are opportunities missed by brc20 due to arrogance. This is a bad thing worth pondering. I will talk about it in detail later. What I want to explore is how to discover different information from the clues in the market, and Use this to make correct decisions. For example, after the FTX thunder, the discount rate gradually shrank from 50% to 30%, 20%, 10%, and within 10% within a year. These are very obvious signals. ——Wall Street wants to make a fuss about GBTC, and the biggest possibility is of course to convert it into an ETF. I have repeatedly analyzed and spread it in the community. Such an obvious signal is naturally something that you and I should know, so what is not obvious? What about information that requires some comprehensive analytical skills?
I remember three years ago, I went to a bar near China World Trade Center with friends from the Beijing crypto community. At 1 o'clock in the morning, P!NK's "try" was playing. I didn't know the song at the time. I saw the lyrics on the big screen in the bar and came back. Just found it. Why do you have to figure out which song it is? Because the feasting and feasting at the scene combined with the super-powerful sound made my heart resonate with the melody. At this time, you can't hear any of your own voice at all. Your whole body seems to have become an ear, flying in the air without gravity. I'm afraid I feel relaxed and happy. That’s what I mean, this is an experience I’ve never had before. No matter how good the audio equipment at your home is, it’s impossible to achieve that experience, let alone AirPods. This experience made me remember this melody completely, so much so that I listened to it over and over again after I got home, but I can never find this feeling again. This also inspired me to think about the empty word "perception". A high-level musician can burst into tears with just a few melodies. The master Terence Fletcher in "The Boomstick" is this kind of character, and the excellent perfume appraisal A teacher can really smell a kingdom with his nose. Frank Slade in "Scent of a Woman" has this special ability. Similar cases include the sense of smell of the financial world by Barton Biggs, the godfather of finance who I like very much. , and car exterior designers/watch designers/illustrators/animators... They either acquire this talent through hard training, or it is inherited, but no matter which way, they are ordinary people. An impossible state to reach. Talking back to the try song I heard in the bar, I may have heard it on previous occasions, maybe in front of a two-dollar store/clearance sale/TCM advertisement, etc., but why didn’t it reach the bar? What about that height? I think it may be that the atmosphere at that time inspired me to have a certain perception of music. This perception is deep in the synapses deep in the brain. The atmosphere of the bar is the key to the lockbox.
In the financial market, does making money also require some perception? If I didn’t have 7-8 years of experience in the financial market, making money from liquidated positions and millions of words of analysis output, I wouldn’t believe that the financial market requires any kind of perception. I would only think that the financial market is a gathering place for arrogant elements and nouveau riche. , and now I would never think so, financial markets are a wonderful world where mathematics and philosophy intertwine.I would like to explain financial market perception as "the ability to find certainty in uncertainty." The most recent case is that when the entire market is looking down on the Ethereum system, I feel that it is time to be strongly bullish on the Ethereum system projects - I will later release a few short clips of the live broadcast in the community this Tuesday to illustrate this issue - like Both ETH and OP are worth it. Maybe my understanding of the latest Ethereum technology is not that profound, such as stateless client/single slot finalized/sharding/Parallel EVM, but I know that capital is blind most of the time, and retail investors The idea of is like grass on the wall during a storm. The two can also reach a balance at a certain moment. It seems wonderful but has no logic. I should seek another point of view when people blindly pursue one point of view. Another case is what I mentioned above. I was able to change my thinking in time in October this year. The Weibo link above can probably explain my thinking process. Of course, I will never say that I will be right at all times. This is simply a joke. Next, I will also deeply reflect on a lot of missed opportunities in this round of market conditions. Arrogance is the culprit. Let’s encourage each other. (2024.011.1).
In the financial markets, there are few qualities more valuable than having contrarian thinking, which will help you stay calm when most people are going crazy. I clearly remember that at the end of 2017, the market went out of control amid the enthusiasm for the launch of Bitcoin futures on the Chicago Mercantile Exchange. In May 2022, the market encountered "519" in the wave of wealth creation in DeFi. At the end of 2022, the market was The beautiful fantasy of "eternal bull market" encountered Waterloo. If extreme beauty is supported by fantasy, then extreme pain will inevitably accompany the disillusionment.
In Q4 of 2017, as a newbie in the financial market, when I saw that LTC increased by 500%, XRP increased by 15 times, and Doge increased by 20 times in one month, I fell into an unreal illusion. I can even recall that the sunshine at noon in winter was so warm, so I rushed into the market and increased the leverage. The market ended this madness sooner or later. The lesson was accurate and cruel. These painful memories may be the reason why I maintain "contrarian thinking" even though I am not wise in many aspects.
However, sometimes there is no need to be too smart here. On the contrary, some very smart people cannot make good investments and may become reverse indicators of the market. They may be Wall Street elites, or they may be "capable people" around you. In his book "Hedge Fund Chronicles," Barton Biggs describes Cyril's partner Cyril's passionate and intelligent mother-in-law, Jenny. Jenny is always interested in the financial market, looking for the so-called "most reliable news" and buying and selling accordingly. However, her partner Cyril always regards Jenny as a "reverse indicator". As long as she buys something, Cyril will sell it quickly. Even if you drop that thing, it can always be sold at a high price. It has been tried and true.
Life may be full of such "reverse indicators". Even if you can't bear it and think that this may be a bit like a single success, this is part of the market. The market exists objectively, and it will not happen just because an ETF has passed. It can rise every day, turning a free-trading financial subject into a capital market that only rises but never falls. Nor will the 2008 subprime crisis break out just because the U.S. stock market has passed a large number of ETFs. So, if one day, when you hear your wife discussing Bitcoin spot ETFs with you after coming home from work, and a friend outside your circle sends you a screenshot of the sharp rise in Bitcoin, you must realize that this is the most obvious selling point. Send a signal, rather than thinking that this is the beginning of a bull market. Reverse thinking will never go out of style.(2024.01.09)
To observe whether a large-scale market has reached its top, two indicators are critical:
One is the Fear and Greed Index. When extreme greed is touched, it is usually the top of a round of market https://coinstats.app/fear-and-greed/
The other is the Altcoin Season Index. When it exceeds 75, it means that the altcoin has entered the stage of chaos, https://www.blockchaincenter.net/en/altcoin-season-index/
At present, these two indexes have not reached their extreme positions, so we should pay attention to them.
It is undeniable that ETFs will definitely pass, and BTC will definitely break through the previous high of 69k at some point. However, in terms of the current environment and the trend of the past two months, 55k is the limit of this round of rebound, and can it get here? , depends on whether the ETF passes quickly on January 10, and also depends on the level of FOMO among retail investors in the market. If any one factor is not met, it is impossible to reach this position.
Whenever I see the popular view that "BTC will soon have nothing to do with retail investors", I always smile knowingly. History is just the opposite. This view often arises from moments of higher greed. Listen to this before the collapse of BTC at the end of 2021. I have heard this voice before. I heard it when Musk announced that Tesla would increase its position in BTC at the beginning of 2021. I heard it when GBTC held more than 600,000 BTC. However, the collapse in 2022 proved that these extreme remarks are nothing more than the BTC market. part of the bubble. And now a similar sound is heard again.
Even if the ETF is passed soon this time, there will definitely be many opportunities for retail investors in the future BTC market, because the prosperity of any financial market is inseparable from the word "leverage". The same will be true for the crypto market after the ETF is passed, and it will even intensify. Leverage, leverage is almost the twin brother of bubbles. When there is a bubble, we must go to the bubble, and opportunities will come with it. This rule applies not only to the immature crypto market, but also to the very mature U.S. stock market - can’t Americans buy it? Are the three major indexes making money?
100% absolute = 100% empty talk. The financial market is a place where mathematics and philosophy complement each other. Anyone can crawl massive amounts of data, speak fully, and play freely. The final equilibrium state is price, so whenever you are a little confused, Just record your thinking in words. It may not be comprehensive, it may not be correct, or it may even be outrageously wrong. In fact, many mistakes have been made in the past few years, but it can always give a rough outline of the market. Looking back on the past, I often make mistakes at the most important nodes. Making the right choice is all thanks to constant recording, including weekly live broadcasts/microblog posts/long posts on WeChat public accounts, all of which have benefited me a lot from my investments. (2024.01.08)
1. The Cancun upgrade has never been so close to us as it is today. Whether/when it is passed will not only affect the wallet, but also the long-term l2 people; 2. I have never seen so many negative comments on ethereum on social media. Is the second-largest crypto asset by market value really in decline? 3. The U.S. stock market has begun a deep correction, and ETFs have fully anticipated it. Has the big rebound before this round of super bull market peaked?
This issue of membership content focuses on the issues that the market is most concerned about recently, Little Bluebird + Weibo + Binance Square, has been forwarded 50 times, and is all publicly released.
Warm reminder, the currency circle has been rising for 5 consecutive months, and now it has not really entered a bull market cycle. The expectations of all ETFs are hanging at a loss, so it is better to be cautious.