Market analysis:
Bitcoin continued to fall from $59,000 last night, and accelerated its decline at nine o'clock in the morning, briefly falling below $56,000, hitting its lowest level since August 8. The decline in the past 24 hours has widened by more than 5%.
In the last 24 hours, a total of 76,150 people were liquidated, with a total liquidation amount of $199 million
The largest single liquidation order occurred on Binance - BTCUSDT worth $2.0027 million
It only rose a little bit and then started to fall again. Didn't it say it was going to rise sharply? After thinking about it, I finally found the reason.
1. The US government started to act up again, selling 1,323 large and 1,104 small coins, totaling nearly $150 million.
2. The latest US ISM August manufacturing PMI data shows that the US economy continues to shrink
3. US stocks continued to fall, and Nvidia's intraday decline widened by 8%
4. Historically, September has generally seen a decline, which is consistent with the logic of a decline
The market has plummeted. Is now a good time to buy at the bottom?
The Federal Reserve will most likely begin a rate cut cycle on September 18, and the news will have a great impact on market trends.
There are only a few days left before the interest rate cut. There is a high probability that cousin CZ will be released this month. Many projects were previously planned to be launched around September, so no matter whether the market will continue to fall or not, September is a time full of opportunities. Be diligent and try to seize more opportunities.
In the 10 years from 2013 to 2023, the cryptocurrency market only saw a slight increase in September of 2015, 2016 and 2023, while the Septembers of the other seven years were all plunges.
However, the market basically all rose in October, so the saying of "Golden September and Silver October" in the currency circle also exists, but this Golden 9 may mean that there may be a golden pit in September for you to buy at the bottom!
I don’t know where the bottom of Bitcoin is, but here’s what I do know:
1. Liquidity will come sooner or later. The interest rates raised by the Federal Reserve in the past are what the Federal Reserve will inevitably release in the future, and the new president’s inauguration is a good opportunity.
2. Based on past election years, October-November is usually the bottom of the market
3. When Bitcoin reaches a certain level, altcoins will naturally follow suit
When it is time to build a position, we will build it in batches.
If you believe that the current bull market is in progress, don’t be afraid of how difficult it is now! When it is time to build a position, build it in batches.
On the contrary, if you don't believe it, sell everything as soon as possible and return home!
I believe it! So I start buying more when the market drops sharply and buying less when the market drops slightly. How much faith you have determines how long you hold your position!
Therefore, stick to your own ideas, don’t regret whether you are right or wrong, and test your own cognition!
I recommend these tokens with unlimited potential:
- ￥OK
Current price: $0.5800
Market value: $809 million
24-hour trading volume: $52,584,500
Ondo Finance is a DeFi protocol built on Ethereum, which directly transfers traditional liquidity services to the currencyization of real-world assets (RWA). It hopes to build a bridge between crypto assets and the real economy through the creation of new financial products.
Ondo provides fund products based on underlying assets such as US government bonds, bills and money market funds, providing diversified choices for investors with different risk preferences. The management fee rate is not high, 0.15%.
If we use the investment logic of a bull market, we should not only look at the market value, but also look at the consensus, the leader, the growth potential, the team, the investment institutions, and the market operation.
ONDO has a good position in the RWA race. This race can attract compliant capital, which means it can attract money from outside. Where the money flows, there is value. In addition, ONDO is one of the few compliant projects in the race. If traditional capital wants to invest in RWA, ONDO is definitely the first choice. At the same time, ONDO has also obtained the endorsement of first-tier investment institutions, and both the capital market maker and the capital market maker are regular players on the Wall Street.
Currently, ONDO is still in a very early stage. When the market starts to fomo, any good news in the RWA track will be related to ONDO, and the coin price will be driven up by the market, and its value is far from being discovered.
The current price is 0.58, it is still very attractive to start bottom hunting at this position, and it is also a relatively high-quality stock to hold for a long time.
- BOOK OF MEME（￥BOME）
Current price: $0.005821
Market value: $402 million
24-hour trading volume: $90,123,300
The Book of MEME is a crypto meme project built on the Solana network. It represents an ambitious effort to capture and promote dynamic meme culture in the digital space. Although the project has its origins in memes, it combines memes with decentralized storage solutions to build a dynamic trading and gambling platform.
Furthermore, it ensures permanent record and global accessibility of each meme. BOME combines memes with decentralized storage solutions and degenerate shitcoin trading and gambling. This unique combination provides users with a unique way to participate in meme culture. They can do this while exploring decentralized finance (DeFi) and blockchain technology.
The BOME token is used for multiple purposes in the ecosystem. It is designed to preserve and engage users in meme culture. These purposes include rewarding participation in decentralized storage solutions. It also facilitates gambling and trading activities on the platform. Holding the token also guarantees participation in platform governance.
Furthermore, BOME has experienced a staggering growth of approximately 577% in the past year. This significantly increases its initial growth of 1,030% since its launch. Investing in BOME could be a promising decision. This prediction is based on the upcoming partnerships that will be proposed and other utilities that will be implemented soon.
- Polkadot (￥DOT)
Current price: $4.058
Market value: $6.039 billion
24-hour volume: $136 million
Polkadot (DOT) has undergone several key updates and developments in July. The number of OpenGov referendums in July reached its highest level this year, proving why Polkadot is considered the world's most prominent decentralized autonomous organization (DAO). OpenGov is Polkadot's governance mechanism that allows any DOT holder to participate in governance and have their opinions considered on-chain.
DOT holders can stake their tokens and participate in governance on the Polkadot network. There were 1,134 unique voters and 118 referendums in July, of which 65 were approved and 29 were rejected. 22 of the 118 referendums timed out and 2 were canceled.
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