The pain of August is over, I hope September brings a turning point
The sharp fluctuations in August have finally come to an end. For investors in the coin industry, this month is really difficult.
After experiencing a pullback in early August, the market trend continued to fluctuate, which is extremely exhausting. If the market situation in the first five months was mainly a test of investors' patience, then August tested everyone's confidence in the coin industry.
Time flies, and six months have passed since Bitcoin last broke through the previous high. Over this six-month period, market turmoil seemed to have exhausted many investors' capital. Therefore, in the current environment, many people are pessimistic about the market outlook. It is widely believed that it will also experience a round of sharp decline, and that the bull market will only start after experiencing a sharp decline. However, there are different opinions on where it will fall and where it will fall to the bottom.
Currently, people are generally looking forward to interest rate cuts and the arrival of a bull market, but without experiencing a sharp decline, I'm afraid it will be difficult to achieve a bull market. So why does the market need to wash dishes?
Imagine if market sentiment is generally bullish and the vast majority of people are going long, then can the market continue to rise? Everyone earns a lot of money, but where exactly do these profits come from? Did it fall from the sky out of thin air?
The most basic logic is that there must be enough bears in the market to drive up. Because the gains of the bulls come from the losses of the bears.
Is September the last chance for Bitcoin (BTC) to get on the bus?
Everything will eventually be sweet
We must always be convinced that the worst of the moment is just a short period of darkness before dawn. All the suffering you have experienced will pave the way for future surprises. Flowers will bloom along the road, and so will the future. Mountains have peaks and lakes have shores. In the long journey of life, everything has a turning point. When you feel that the aftertaste is bitter, trust that everything will eventually be sweet.
The general market continued to decline over the weekend, and retail investors continued to be bearish and spread fear, uncertainty, and doubt (FUD), yet whales continued to buy and buy without stopping. This is the current state of the market.
Bitcoin continued to decline over the weekend after fluctuating at a high level, and continued pessimism spread rapidly thereafter. The Panic and Greed Index dropped to 26, a significant drop from 55 last week. This sentiment is due to the fact that everyone is concerned about liquidity issues.
After going through the ICO and VC stages, people began to embrace memes using the PVP model. Recently, when memes didn't perform well, people became more pessimistic. At the macro level, people are worried about the recession in the US economy; at the micro level, people are worried that the industry lacks innovation and will not be able to sustain growth.
Despite widespread panic, if you look at the giant whales on the chain, you can see that they didn't sell; instead, they continued to buy. Every time the market is generally fearful, there is often an opportunity.
Be patient
The current wash is only a temporary fluctuation, and spot holders should be patient and not worry about short-term price fluctuations.
Even though the recent trend of BTC makes people feel anxious, the big market usually falls quietly when this sentiment is overshadowed.
Next, Bitcoin should focus on the 120-day EMA at the daily level. If it can once again stabilize above 64,000, then obviously a big wave of market is coming. Until you fail to stand up, you can understand that you are in a state of shock adjustment.
The key factor is whether the spot market decides to buy again or blow up the wheel again in a targeted manner. Until then, there was nothing wrong with the bearish sentiment that pervaded the entire market.
Don't go with the flow when most people look in the same direction, but don't just go in the opposite direction just because everyone is looking in the same direction.
It is often the easiest time to lose money in the phase of a pattern where trends and volatile markets change with each other. If you can't understand it, it's better not to do it; if you don't do it, you won't lose; if you don't lose, you'll earn money.
I still say that; I am very optimistic about the fourth quarter market. Even now, I don't see where the pessimism persists. So, hold on to the chips in your hands and stay optimistic.