The market in August was really up and down. For investors in the cryptocurrency circle, this month was particularly painful. At the beginning of August, the market fell sharply, and the next month was tossing and turning. The first five months tested everyone's patience, but August tested everyone's confidence in the cryptocurrency circle.
Time flies. The last time Bitcoin broke through the previous high was six months ago. In these six months, many people's money was tortured and gone. So now many people are not optimistic about the current market, thinking that there will be another big drop, and it may be after the big drop that the bull market will come. As for where it will fall and where to buy the bottom before the bull market, everyone has their own opinions.
Everyone is now waiting for interest rate cuts and bull markets, but bull markets will not appear unless there is a big drop. Why a big drop? Imagine that if everyone is bullish, the market will continue to rise. But where does the money come from? Money does not fall from the sky. The money actually comes from those who short.
The bull market will not appear until the market sentiment is very pessimistic, most people dare not go long, and the short position increases sharply. Bitcoin halving and interest rate cuts are only one condition for a bull market. Another necessary condition is the fear brought by a sharp drop.
