Following the SEC's heavy-handed move to sue Bian and Coinbase a few days ago, it continued to characterize some Shanzhai securities, causing market panic. It can only be said that Shanzhai itself is weak, and the depth of this hit is not at all, and the general 20% 👇 drop. Liquidity is scarce in the market at this time, and there is no money to support the bottom in the short term, because an important thing has not really landed.

It is the position of Bitcoin and Ethereum. What is the current situation of Bitcoin and Ethereum? They are still at a high level, but the younger brothers have committed suicide. It is obvious that the future of the Shanzhai is uncertain. Most of them have started to fall since February, but Bitcoin has always been okay. I didn’t expect that the others have committed suicide. This regulatory order is just the straw that broke the camel’s back for the Shanzhai, but this straw is not a bad thing. It gradually washed away the bubbles and chips, which is a good thing in the medium and long term.

The next step is to look at Bitcoin and Ethereum and see what they want to do. To be honest, the breakthrough a few days ago was unsuccessful, and the US stock market has started to fluctuate in the past few days, and the supervision has intensified. It's just that Bitcoin is not good enough at the moment, and Ethereum is not good enough either. It can't be said to be stable. Especially Ethereum has reached a new low today. The current sideways position cannot fully explain the problem. In theory, the exchange rate angle has changed a few days ago. The future situation of Ethereum, I mean in the short term, is not good.

For the time being, I think the mid-term is not in place yet. It will take time and form. It is hard to say for the altcoins at the moment. First of all, we need to consider that the mid-term decline of Bitcoin has not ended. If it continues to fall in the short term, will it cause a second injury? This is the key. We can only hope that Bitcoin and Ethereum will be in place soon, leaving some leeks in the market. This year's market is more difficult than last year. Contract players are trapped by shocks. Altcoin players have been influenced by the good market at the beginning of the year and have always thought that the long bull market is coming. However... For the time being, I personally think that we should wait for Bitcoin to stabilize first. The mid-term still needs time, and time. #