3.11 Morning News
Last night, after the US stock market opened, it plummeted sharply, and I sensed that Ethereum might break below the 20,000 mark today, and Bitcoin could also fall below the 80,000 mark. As for those altcoins, although their declines are not as severe as mainstream coins, the long whales of Bitcoin and Ethereum have suffered heavy losses in this wave of crash. The downward trend is fierce, but as long as we don’t exit the market, there will always be opportunities for a comeback.
Currently, the market is undergoing a massive purge, with no one spared from retail investors to whales and institutions. After they have all been purged from the market, perhaps a new turning point can be expected. Currently, the shutdown price for mainstream Bitcoin mining machines is roughly between 45,000 to 72,000 USD, and the current price is approaching the shutdown price of old machines. Altcoins have been on a downward trajectory since last April and have not stopped falling to this day. But extremes will reverse, and this is especially true in financial markets. It is expected that the largest bottom may form within this month. Let us patiently wait for the right moment to arrive.
