#BTC Lao Gou shares his views on the market in a responsible, objective and rational manner and has his own unique insights into the market
The data and information in this article are derived from public news and information. However, no guarantee is made for the accuracy and completeness of the information. The content is for reference only and does not constitute any investment advice.
The recent mainstream market has been sluggish. Except for a few altcoins that have skyrocketed, other currencies have almost no money-making effect. Data shows that Bitcoin's 90-day volatility has never been seen since 2017, which indicates that Bitcoin will expand in the next few weeks to months. This is very good news for friends who hold coins for a long time.
There is a lot of good news recently. Paul Grewal, chief legal officer of Coinbase, said in a financial report conference call on Thursday that he plans to submit an order to the court on Friday local time to "completely" dismiss the lawsuit filed by the U.S. Securities and Exchange Commission against him. Ripple's previous victory gave Coinbase a lot of confidence. If Coinbase can win this time, then Binance is also likely to sue the SEC.
Coinbase's revenue in Q2 2023 was $707.9 million, while the market expected $633 million and $808 million in the same period last year. Coinbase's stock price rose 5.5% to $95.60 in after-hours trading on Thursday, up about 160% year-to-date. Since the beginning of the year, the price of Bitcoin has risen by about 90%, indicating that the market has been moving in a positive direction.
The WeChat video account of a financial magazine recently released a video about "Let residents make money by buying stocks and funds". One of the scenes is accompanied by a BTC/USDT market picture with text attached: "Try every possible way to increase residents' property income, so that residents can also make money through stocks, funds and other channels, thereby turning consumption willingness into consumption ability." This shows that Bitcoin has become more and more well-known, and people who participate are slowly appearing around us. And many people have already regarded Bitcoin as an investment similar to funds and financial products.
Coin News Sharing
The mainstream market has been volatile for a long time recently. From the data, Bitcoin's 200-week moving average still has support. From the Bitcoin AHR999 indicator, Bitcoin is still near the bottom line. From the historical data, every time AHR999 falls below the bottom line or is near the bottom line, the price of Bitcoin is near the bottom of the stage. (Data is for reference only)
The altcoin market: Recently, there have been many currencies rising in the altcoin market, most of which have been at or near a new low since the beginning of the year. The decline from the highest point is more than 99%, and you can only rely on luck to ambush these currencies in advance. However, some currencies have reached new lows after reaching new lows, and some may experience short-term surges due to market hotspots. Therefore, it is not recommended for old dogs to participate in those altcoins that have skyrocketed at this stage. For those currencies that have not skyrocketed and whose prices are at or near historical lows, you can pay more attention if you are very familiar with them.
The market has been quiet for a long time, and the day of change is coming soon. After such a long period of cleansing, I believe that the price of the currency will hit a new high this year.
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