For investors in the entire cryptocurrency industry, August was too painful. First, there was a big correction in early August, and then it went on and on for a month.
If the first five months were a test of everyone's patience, then August was a test of everyone's confidence in the cryptocurrency industry.
Time flies. The last time Bitcoin broke through its previous high was six months ago. In this way, these six months have worn away everyone's money without anyone noticing.
So for the current environment, more people are not optimistic about the current market and believe that there will be a big drop.
However, my view is exactly the opposite.
In January of this year, Bitcoin ETF passed, and in May of this year, Ethereum ETF passed. This is a milestone event in the cryptocurrency industry.
Looking back on the past few years, countries around the world have suppressed the blockchain industry and virtual currencies, causing panic.
However, in these few short years, earth-shaking changes have taken place. Countries have begun to favor virtual currencies, are legalizing them, and even started to establish exchanges to allow retail investors to trade legally.
The approval of Bitcoin ETF and Ethereum ETF has brought new traffic channels to the currency circle. Retail investors and major institutions in the entire US stock market can directly participate in the investment.
What does this mean? It means that large institutions like BlackRock, which control huge amounts of funds, have begun to hoard Bitcoin and Ethereum in the currency circle.
Their hoarding of Bitcoin and Ethereum is just the beginning. After they have hoarded, they will start to promote Bitcoin and Ethereum, so that retail investors can buy ETFs and various fund products in the currency circle.
Many people are confused about why the ETF has been approved, but it has not risen, but has fluctuated for a full 6 months. The reason is here:
Because traditional financial institutions want to absorb chips, they will start to promote it to retail investors and stockholders in the stock market to invest only after they have absorbed enough chips.
So when this hole is completely opened, the huge amount of funds in the stock market will continue to supply new blood to the currency circle, and a new market will be opened.
In addition, there are several major positives in September, and the next currency circle must be full of opportunities!
