Let me briefly describe the reasons for the recent surge, and my opinion on the so-called "bull market".

First of all, the reasons are the positive factors of Bitcoin's surge of 10%.

First, the news of the postponement of the compensation of Mentougou, which may mean that the sell-off caused by the compensation will be postponed. Previously, the news of Mentougou caused Bitcoin to plummet several times, and the market is more sensitive to this news.

Second, Harris has made a clear statement in support of cryptocurrency. At present, her approval rating is far behind Trump, and she may want to use this as a last-ditch struggle to canvass votes. After all, there is not much time left for the election, and she may "play big tricks" in this regard in the future, which is worth paying attention to.

Third, the mainland has begun to impose taxes on overseas investments of super-rich people, and the relevant tax rate may be as high as 20%, which has indirectly increased the demand of the rich for cryptocurrencies, especially Bitcoin.

Let's talk about the view on "Bull Return".

I think this is a normal rise in the past few days, not the kind of rise that can bring BTC to 100,000 US dollars all the way, and it is necessary to blindly chase high. Because the average daily trading volume of Bitcoin during this period is not high, it is not enough to produce a large-scale unilateral market.

It can be seen that after rising above 66,000, it quickly fell back to 65,000. The resistance at the historical high is very strong, and it is not appropriate to buy at the resistance level. A more stable way is to buy at a low point after the price successfully breaks through and the market sentiment is high.