8.5 Market Analysis
Good morning! This market is simply a bloodbath, and we still underestimated the decline this time.
Last night, it was estimated at $57,000, and we bought the bottom at $2,700.
But the lowest price this morning fell to $54,000, $2,100.
Bitcoin has recorded the largest weekly decline since the collapse of FTX.
The reason for this round of decline is that the risk aversion caused by the geopolitical situation has caused BTC, as a risky asset, to plummet.
It is currently close to the bottom support level of the previous round, and the panic has been released, so don't sell at this position.
However, the market may still fall slightly.
There may be two negative factors this week:
The transfer and release of the Mentougou token. Iran's attack on Israel this week.
Wait for these two negative factors to be released, and if you have funds, buy some of the bottom first.
After enduring the Iranian attack, and then enduring Mentougou, the market is expected to recover in mid-to-late August.
The key point at the moment is to stay calm and rational.
