The cryptocurrency market has plummeted again? Did the whales run away? Which coins can you buy at the bottom to get rich quickly? You must know these important benefits in the cryptocurrency market!
The fateful week is here. First, there is the CPI, then the Fed’s interest rate meeting. Is this a signal of a rebound or the beginning of another round of plunge? What key information has Wall Street released in advance? Let’s follow Shuqin to find out.
First of all, the question that everyone is most concerned about is whether the recent sharp drop in the cryptocurrency market represents the end of this round of rising market? Will there be further declines in the future?
This question is actually not difficult. You will understand it completely after looking at these two data.
The first is that Bitcoin ETF is making history again.
There has been a net capital inflow for 19 consecutive days. Although the recent non-farm payroll data is negative, Wall Street funds have not been affected at all and are still increasing their investments. Therefore, last week's plunge was a normal peak-to-peak correction, and there is still greater room for upward movement. Don't take it as a signal of a market reversal.
The on-chain data is equally intuitive.
The amount of Bitcoin in exchanges has continued to decline recently, reaching its lowest point in six years. A large number of coins have been bought by whales and withdrawn to their own cold wallets. The current amount is far lower than the peak of 73,000 in March. In proportion, Bitcoin should now be worth at least 85,000 to justify its scarcity.
It can be said that the current bull market is on the verge of breaking out, and all it needs is good inflation data or a favorable event to achieve this head and shoulders bottom pattern and start a real take-off.
So what good news will the cryptocurrency world have next?
The first is the crucial inflation data at 8:30 p.m. on Wednesday.
The fundamentals of this data are much stronger than last Friday's employment data, because its core CPI is positive by default, and the expectation has reached 3.5%, and the CPI is also expected to remain unchanged, thus sweeping away the rising haze of the previous few months.
This time is not like last week’s big non-farm payrolls data, which was more pessimistic. The market expected additional employment, but it actually rose sharply, causing both the cryptocurrency market and U.S. stocks to plummet, so everyone can look forward to this Wednesday’s CPI data.
The second positive news for the cryptocurrency world comes from another dimension.
I wonder if you still remember what event drove the peak of the last bull market?
That is, the US Coinbase was listed on the Nasdaq on April 14. Before its listing, the cryptocurrency market soared all the way, reaching its peak price of 65,000 at the time.
Now, according to Bloomberg and other media, Kraken, the second largest platform in the United States after Coinbase, has also announced its IPO. If successful, it will completely ignite the cryptocurrency circle.
You should know that Kraken has actually been preparing since the last bull market, but was suppressed by the China Securities Regulatory Commission. Last year, he even had a lawsuit against the China Securities Regulatory Commission. So if it is successfully listed this time, not only will Wall Street have a second listed exchange, it will also represent a victory over the SEC. Therefore, the hype may be no less than that of Coinbase's listing in the last bull market, both of which directly caused Bitcoin to rise for several weeks in a row and take off completely.
And I think the probability of passing this time is very high. After all, the overall environment has become much friendlier now. Even spot ETFs have been approved, which was unimaginable a few years ago.
In addition, Shuqin also observed that some big whales were also making moves. For example, this person took advantage of the recent plunge to buy 3.5 million Ondos, worth 5 million US dollars.
This shows that the smart money that had previously taken profits at high levels is taking advantage of the recent plunge to accumulate chips again, especially around 1.1 and 1.2 are relatively good entry points. Shuqin has talked about this in previous programs, and we also successfully escaped the top near 1.5, so when trading in cryptocurrencies, you must not only know how to buy but also how to sell.
I expect it to continue to consolidate in the ABC wave in the next week or two, and then it should take off again.
Tru, which is on the same track, has already soared in the past few days, so the RWA sector is definitely a hot spot in this round of bull market. After all, this cycle is all about Wall Street entering the market. However, compared with Ondo, which has almost fallen back, Tru's price is still too high, so you can wait a little longer to buy the bottom.
Meme coin is another hot spot in this cycle, with more than 10 times of growth potential. Now it is not only retail investors who are playing, but also billionaires like DWF.
Among them, Pepe is definitely the leader here. He is one of the few local investors in the Ethereum ecosystem. When the ETF hype for Ethereum starts, I believe Pepe will have even greater narrative space. Shuqin has always told everyone not to chase high prices and to wait patiently for a pullback. The pullback really came in the past few days, and it has fallen 40% from the previous high. However, cryptocurrency speculation has always been about others being afraid and me being greedy.
Therefore, Shuqin will never miss this kind of opportunity, because the last time it plummeted to 0.05, we also withstood the pressure and bravely entered the market. We were shaken for several weeks, but then everyone saw that Pepe skyrocketed nearly 4 times.
On Friday and Saturday, Shuqin asked everyone to buy the bottom of the People 0.1, which rose 40% in one day yesterday, reaching the previous high.
0.14, then Shuqin was very smart and asked everyone to take profit and wait for a pullback before buying again, because the previous highs have always had very strong resistance. Sure enough, it pulled back a lot, and now we can happily buy at low prices again. In my mind, the most perfect entry point is near this rising trend line of 0.115.
Like the three times when People hit the bottom of 0.1, if you entered the market at any time, you could have made a lot of profit without any leverage. Therefore, you really don’t need to wait for the bull market to start to make money. There are many buying and selling opportunities in the market every day, and some people are still losing money due to blind operations. Don’t wait until you have lost all your money to realize that there is a shortcut to success.
So if you want to work with me, you can come and have a look~
Now let's get back to the point. This Wednesday, there will be not only CPI data, but also the Federal Reserve's interest rate meeting at midnight on Wednesday, which is 2 a.m. on Thursday. It will determine the trend of the cryptocurrency market in the next few weeks. So will it be good or bad?
Shuqin believes that Powell is likely to release some positive signals, especially since there is an additional interest rate dot plot this time, which will provide guidance on future interest rates.
I think there is a high probability that the Fed will hint at a rate cut. After all, there will be a rate cut in the second half of this year no matter what. Before cutting interest rates, the Fed will give the market expectations in advance to digest them instead of suddenly introducing any policy.
In fact, Shuqin's biggest reliance is that Canada, which is known as a weather vane of US policy, has taken the lead in cutting interest rates, and the European Central Bank also recently announced the start of its interest rate cut journey.
In addition, the US general election is coming soon, so I think the Federal Reserve is at the end of its rope and can only talk tough.
No matter what, it will definitely fall in the second half of this year, and the cryptocurrency market has always started to rise a few months after the halving, so the start of the bull market is not accidental, but inevitable!
Patient investors will see their wealth soar dozens of times in the coming bull market, so work hard, young man, and let’s witness a miracle together next year, okay!
