📍Bear market hits bottom—batch buying is the correct investment approach
On August 12, well-known trader DoctorProfit posted that a historical indicator for Bitcoin is sending a signal that a “bottom has already formed or is very close.” In 2015, 2019, and 2022, the bear-market bottom formation phase also began when the 3- to 6-month holders’ realized price crossed below the 1- to 2-year holders’ realized price. He believes this means newer buyers capitulate in losses and sell, and Bitcoin gradually shifts into the hands of longer-term holders. This crossover is now occurring for the fourth time, while the BTC price is below the average cost of both types of holders.
However, historically, this signal does not immediately lead to a reversal. Bitcoin typically still goes through several months of sideways movement to complete the base-building process, so this phase can also be viewed as a long-term accumulation period. He says the market is currently in the bear-market bottom formation and long-term accumulation stage. Doctor Profit stated that over the past few weeks, he has been buying BTC in batches within the $54,000 to $64,000 range, and will continue building his position gradually using a method of 5% per tranche each time.
Breaking news! Even an ETF giant can’t hold up? Bitwise, a major Wall Street asset manager, cuts 14%, and the cold winds of crypto winter blow toward institutions!
Just now, the crypto market brought news that made quite a few people suck in a cold breath: Bitwise, a well-known Wall Street crypto asset management firm and one of the issuers of the Bitcoin spot ETF, suddenly announced layoffs of about 14%!
For a long time, everyone thought that as long as spot ETFs went through, Wall Street’s institutions would be a “printing machine” guaranteed to profit with no loss. But reality has slapped that assumption hard. With the crypto market remaining persistently sluggish recently, even these top “water sellers” have started to tighten their belts to get by. So what signal is behind this round of layoffs? Let’s break it down in depth for you:
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Solitude is the sweet joy of the soul, without compromise, without concession. Walking alone is a private rendezvous with the Earth. In the hustle and bustle of beings, I remain calm; the soul has its own destination. When no one understands, be your own Universe. No one with me, it’s me with the Sky and the Earth.🌹🌹🌹🌹 $USDC $BNB
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