This is the future of Bitcoin. The shorts will be gradually liquidated. After all, the shorts have been arrogant for more than half a year. There has been no update recently because the current market situation does not require me to recharge your faith from the moment the interest rate is cut. The turning point of the market has quietly arrived.
However, recently cryptocurrencies seem to be getting closer to the domestic market. But no matter what, it is good for cryptocurrencies, and it has both good and bad effects on the domestic stock market.
Affected by the recent correction after the stock market surge, domestic stock investors have once again returned to the gloom, so there is such a view that stock market funds are flowing back into cryptocurrencies, but I think the impact is limited.
On the contrary, a large amount of funds may flow into cryptocurrencies in the country, and this is obviously bad news for the stock market.
I think this news is more useful. It is rumored that the country will issue 6 trillion special government bonds in the next three years to help local governments solve the debt crisis. This can be regarded as a disguised way of stimulating the economy. I don't know whether the market will buy it.
But one thing is certain, that is, with the Fed's interest rate cuts, the world has begun to follow the Fed's footsteps and enter a new round of massive money printing. Although the Fed has not ended QT, which may have to wait until the first quarter of next year, it will not affect future massive money printing.
The rainbow chart is the most exciting price indicator trend. If it follows this price, the price of Bitcoin will at least rise to 200,000 US dollars per coin. Although it has not come out yet, it will take some time.
Every time an election begins, the price of Bitcoin is extremely active, not to mention the support of this round's Republican candidate Trump for cryptocurrency. Once elected and the Bitcoin Reserve Act is passed, it will bring a large amount of funds to Bitcoin and directly lock up 1 million liquidity.
Trump has lived up to expectations recently, with his approval rating continuing to rise, and he seems to be getting closer to being elected, just as the general election is getting closer and the start of a new bull market is getting closer.
Judging from the survey, Trump's election is almost a foregone conclusion, and his lead is getting bigger and bigger. Musk himself has personally endorsed him, and Musk has been unusually popular recently.
The powerful combination will bring about a cryptocurrency president, and this president will also launch his own cryptocurrency project. Can you imagine that a president is so supportive of cryptocurrency, although it is more for politics, but it brings great benefits.
The Bitcoin chips supported the market. We said earlier that 800,000 Bitcoin chips were gathered between 62,500 and 63,500, which formed an effective support. There are still 630,000 chips now, and the earliest chips were between 64,000 and 69,000 US dollars, which also supported the price.
In the short term, as the price rises, the contract position has reached a high point in half a year. Every time it touches this point, there is a short-term price correction. This was also confirmed today, but it did not affect the overall market trend.
Where does the final pressure on Bitcoin come from? The breakthrough is the turning point.
The price of Bitcoin has been gradually touching the long-term downward trend line, and the actual position is around US$68,000, so this is a major pressure. In addition, the previous high point of US$70,000 will determine whether the altcoin bull market will arrive.
These are the $68,000 and $70,000 levels that Bitcoin needs to break through in the short term. If it breaks through and stabilizes, I think it will be a complete reversal and the turning point is coming. It is on the way now. After coming up from $49,000 below, it has followed a special pattern, which is the rising trend line.
In short, I hope that everyone can gain something in the upcoming bull market, and work with our friends in the group to plan the next round of bull market. #美国大选如何影响加密产业？ #BTC要挑战7W大关了吗？
