February 14th, the fifth day of the first lunar month, welcoming the God of Wealth
I was quite busy before and after the Chinese New Year, so I didn’t have time to write about my views on the big cake. I just watched the market and made a few monthly adjustments in my spare time.
I'm done visiting relatives and friends today, and I can continue to express my understanding of the pie.
During this period, the price of the cake rose from a minimum of 38,000 to a maximum of 50,000, which is not surprising to us.
I have been emphasizing before that after the Bitcoin ETF is approved, Grayscale will continue to sell to increase market liquidity, otherwise other institutions will have no chips in their hands.
The entire B circle is still dominated by Grayscale, which is not conducive to the development of the B circle. Only when everyone has chips in their hands can more information fog be created to harvest leeks.
Judging from the recent ETF inflows and outflows, Grayscale has reduced its holdings by nearly 200,000 from a peak of 650,000 coins to today, while Wall Street groups led by BlackRock are buying in batches.
This also proves that what we said before is correct. So the fans who saw my reminder to buy at the bottom in the early stage can say that this year is very pleasant.
Last night's decline was unexpected, but also reasonable. It was normal to pour cold water on the bullish sentiment of the continued rise in the price of bitcoin.
As the election approaches, the sharp rise in CPI data has not given Biden's economics more support before the election, nor is it conducive to the subsequent release of funds, so the rise of the big cake has been frustrated.
However, if the price of Bitcoin cannot fall below 47,000 today and tomorrow, then there is a possibility that the price of Bitcoin will finally hit 52,000 or 53,000 and then drop sharply.
