This is in stark contrast to the crypto market winter experienced in 2022. In the first half of 2023, Bitcoin began to rebound on January 1, and Bitcoin has risen to around $30,500 today, an increase of nearly 100%, far exceeding other major assets in the world. The Nasdaq index rose 31.7%, ranking second, and stock markets in other major countries rose. Natural gas prices fell by 37%, ranking at the bottom, and other energy prices fell.
On June 22, 2023, BlackRock, the world's largest asset management company, applied to launch a Bitcoin spot ETF. Affected by this, Bitcoin rose to the highest price of the year at $31,420 on June 23. With BlackRock’s strength and influence, the Bitcoin spot ETF application will most likely be approved after submission. In 2017, the CEO of BlackRock also believed that Bitcoin was a money laundering index. By 2023, the CEO of BlackRock believed that Bitcoin was an international asset. The change of concept is the power of time and the charm of money.
All news released in the market is used to mislead investors, and substantive news that has not yet been announced ultimately dominates the market. Before BlackRock applies to launch a Bitcoin spot ETF, the bookmaker will lay in wait in advance. Once the news is announced, Bitcoin will rise sharply, the bookmaker will successfully complete the shipment, and then make a short order, and then BlackRock will apply to launch Bitcoin. The spot ETF failed to pass, and Bitcoin plummeted, hitting the gold bottom. Then the bookmakers and BlackRock collected low-price chips at the bottom of the market, pulled it up, and then repeatedly fluctuated and washed the market. After the wash, a new round of bull market began.
Nowadays, Xiao Xiami’s address, which is smaller than one Bitcoin, is accumulating Bitcoin at a rate of 33,800 per month. The monthly output of Bitcoin is about 27,000. Xiao Xiami’s address is accumulating Bitcoin so crazily that it may lead to the ultimate attack by the banker. The warehouse was shaken, and the violent decline knocked out the Bitcoin from Xiao Xiami’s address. Then the banker will swallow it up.
The short-term stagflation trend in the cryptocurrency market is obvious, and a new round of major washout is about to begin. As the U.S. stock market rests again and the entire crypto market enters a high sideways trend, market volatility has become increasingly lower in the past 48 hours, and the short-term stagflation trend has gradually become apparent. From a short-term perspective, Bitcoin and Ether contract positions have gradually increased and are close to previous highs. According to historical logic, a new round of reshuffle is about to begin.
Judging from the market situation, the market is bullish at the end of the year. Judging from the nearly doubling of Bitcoin’s annual surge, the most optimistic end of the day can also lead to a 10% ultimate sprint.
On April 14, 2023, Bitcoin hit a new high of $31,000 for the year. More than two months have passed.
On June 23, it shot up to $31,420 and then fell back.
On June 30, it shot up to $31,280 and then fell back.
On July 4, it shot up to $31,370 and then fell back.
It failed to stand firm at US$31,000 after each surge. After successive surges, the momentum was exhausted. According to the past performance of Bitcoin falling if it cannot rise, and rising if it cannot fall, the probability of Bitcoin falling sharply is increasing.
Bitcoin has returned below the 10-day moving average in the past two days. These two days are confirming the validity of falling below the 10-day moving average. After confirmation, there is a high probability that a new round of sharp decline will begin.
In August 2017, Bitcoin hit a record high of $4,600 that year. On September 4, ten ministries and commissions including the Central Bank of China and the China Banking and Insurance Regulatory Commission jointly issued the "Notice on Further Preventing and Dealing with Speculation Risks in Virtual Currency Transactions". Bitcoin fell 8% that day. In the following week, Bitcoin fell 30 times in a row. point, the lowest point has fallen to 2980 US dollars.
At 6 pm on March 12, 2020, Bitcoin began to fall rapidly from nearly $8,000 to around $6,000. On the morning of the 13th, the price of Bitcoin continued to fall, reaching as low as $3,800; the maximum drop of Bitcoin exceeded 50%, which is rare in history.
On May 10, 2021, Bitcoin hit a record high of $59,520 that year. Bitcoin fell to $29,000 on May 19. 519 mainstream currency almost halved in one day. Bitcoin once fell by about 30% against the US dollar. Ethereum once fell nearly 50%.
The classic 94 in 2017, 312 in 2020, and 519 in 2021. It has been more than two years since the 519 market. Every two to three years, Bitcoin starts to plummet after hitting a new high in the year. Then it will be a bull market. History will not repeat itself but it will be surprisingly similar. The currency circle has experienced barbaric growth, with the explosive birth of countless new tokens springing up like mushrooms every year, all of which require a major cleansing.
Before the big bull market starts, you need to squat down once before you can jump higher. This will be caused by unpredictable external or internal factors. From the second half of this year to the first and second quarters of next year, if you are lucky enough to happen, it will be a golden pit. Just be brave and pick up the chips. At the same time, we will continue to insist on fixed investment this year and be long in the crypto world in the long term.