About this round of bull market: A must-read for retail investors in the cryptocurrency circle!

1. The Bitcoin ETF has led to an earlier start than the previous rounds of market. The last round of altcoins is still lying at the bottom, and it did not start to explode until July and August. Now is the normal correction after Bitcoin halving, and the altcoin season may start in July.

2. The entire financial market is not so short of liquidity. The US stock market has been rising well. The cryptocurrency circle is not doing well and lacks major innovations to attract new funds. If it were not for the Bitcoin ETF, it might be worse now. The wealth effect is good in places with innovation, such as Bitcoin giving birth to Ethereum.

3. Bitcoin ETF has created Bitcoin giving birth to Ethereum, which is a brand new beginning, but Ethereum ETF is more of a cover for the launch of the king-level air projects that raised a lot of money in the last round, and the issuance of coins to cut leeks, as well as the sorting out of shipments by some old wallets. The passage of Ethereum ETF can bring some new funds and there will be a certain increase, but we should be cautious and optimistic.

4. Even if Q4 begins to enter the interest rate cut cycle, the scale of new liquidity will be much lower than the previous round, but the speed of new project coin issuance and the market value of listing are far higher than the previous round. Don't expect a general bull market in the cottage industry. The overall expectations are lowered. These large-cap projects have no meaning for leeks in the secondary market except for shipping and sucking blood.

5. The overall expectations for the market are lowered, but looking for opportunities in the innovative and active sub-tracks will still have good returns in the end. The big cake will still have the most wealth-creating effect, because the opponents are all leeks like themselves, and it is relatively easy to play with those institutional plates. Focus on those small and medium-cap projects with active construction, solid fundamentals, reasonable token models, and active communities.

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