Post-National Day Outlook for the Crypto Market: Potential Coins After Correction, and Secondary Market AnalysisThe National Day holiday has ended, and the crypto market has also seen a correction. Since September 1st, the overall market has been falling, with BTC dropping close to $62,000 and ETH around $2,400
Post-National Day Outlook for the Crypto Market: Potential Coins After Correction, and Secondary Market Analysis
The National Day holiday has ended, and the crypto market has also seen a correction. Since September 1st, the overall market has been falling, with BTC dropping close to $62,000 and ETH around $2,400. Although the market is full of uncertainty in the short term, I remain optimistic about a rebound after the holiday, expecting a rally around the 9th or 10th of September.
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Review of Market Performance During the National Day:
- The overall market has been correcting for a week since the early morning of the 1st.
- Bitcoin (BTC) has dropped by around $4,000, and Ethereum (ETH) has fallen by approximately $300.
- The recent lows have provided safe opportunities to build positions.
Outlook for Future Market Performance:
- I believe there's a high probability of a rebound after the holiday, and I expect the market to show a bullish rally around the 9th or 10th of September.
- The spot market needs to wait for Bitcoin and Ethereum to break through before it can pick up. Currently, market funds are severely fragmented, and there's a lack of capital within the market.
- The boom in the A-share market has led to a significant outflow of funds from the crypto market towards the stock market.
- The meme market is seeing thousands of new projects emerge every day.
Investment Suggestions:
- Separate your investment funds into different sectors to avoid overconcentration.
- Focus on holding spot assets and avoid touching contracts.
Thoughts on the US Stock Market:
- The US stock market remains in a bull market due to its continuous absorption of global funds.
- It's backed by a robust system, companies with strong fundamentals, national credit, and national strength.
The Current State and Opportunities in the Crypto Market:
- Crypto, as a native resident of the crypto space, has undergone a transformation from decentralized Web3 to a 24/7 casino in just one bull-bear cycle.
- Cryptocurrencies, priced in US dollars as a risk asset, have essentially become a pool of US dollar reserves after the launch of BTC and ETH ETFs.
- As a "non-biological child" of the US dollar, the crypto market is often the first to be abandoned in the face of risk.
Despite this, I remain bullish on the crypto market.
- The crypto market's unique features include the myth of retail wealth creation, high volatility, 24/7 operation, and a constant stream of new projects, all of which offer "get-rich-quick" opportunities for retail investors.
- Secondary trading is the foundation of the crypto market, and everything relies on an active secondary market.
- The arrival of a "altcoin season" is only a matter of time; it's bound to reappear in new forms.
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