There are no surprises; as written in the diary on the 7th, good news has arrived. After the July CPI figures were announced favorably on the night of the 12th, the probability of a rate cut in September has significantly increased. After a month of turbulence, the big brother immediately chose a direction yesterday, moving upward, and today it reached a new high of 124.4K. The challenge of the new high lasted just a few seconds before a pullback occurred, currently at 118K.
As the big brother's B price and market cap continue to rise, every slight movement equates to thousands of dollars, and everyone needs to adapt to this pace.
Then someone might ask: Why does the big brother adjust every time it hits a new high? Because after a new high, there will be a lot of turnover, and it is not institutions retreating; they are continuously increasing their holdings. Instead, it is some retail investors and small whales in ETFs selling off, causing a brief drop, including E's gradual pullback after each new high.
Currently, the big brother is at the threshold of the 128K~160K range I predicted in July 2023. In the short term, apart from some volatility, it will still trend upward, but the amplitude will become smaller; to put it simply, E has been reaching new highs from 3600, creating a new high of 4788 today, just a few dollars away from the historical high of 4868 in 2021, and it has also experienced a brief pullback, which is normal behavior. Continuing as expected, be patient and wait for new highs.
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In the latter half of this cycle's bull market, there is a clear feeling that many people lack stimulation. The big brother and E are like local dogs pulling the market, without giving any significant pullbacks; you might not believe it, but there are many who missed the boat, and as for doubling their accounts, let's not even talk about it, because everyone is waiting for a deep pullback to jump in, but this time there may not be a deep pullback, which has disappointed many.
Don't think it's just you who missed the boat; institutions have also missed it. What are institutions doing? They are either getting back in or have many whales who sold E at around 2500~3000 and bought back at around 3600 to ensure they are back on the bus; or they are choosing new targets, like some mainstream altcoins such as DOGE, LTC, LINK, etc., creating a topic of 'strategic reserve' to spark a surge.
I looked through all the altcoins today, whether mainstream altcoins or small market cap ones, mentioning E's ecosystem and L2 across various sectors. Even after the second phase of adjustment is over, this time following the big brother's rebound, they are still in a low-position state, so you need to pay close attention. In simple terms, there hasn't been much of a rise; how will altcoins move next? There are only two scenarios: 1. Advancing ahead of the third phase of the main upward wave, with volume and price rising together, creating a complete picture; 2. Slowly following the major trend, eventually reaching a high position, where a few quick sales occur to end it.
Most altcoins will follow the path above, only high-quality, wealthy altcoins will follow path 1, like OKB in these past two days. A reduction in output news caused it to rise 200% in one day after being in a sideways range of 40~50 for two years, reaching above 130. This is a bull market; regardless of market cap, either it won't rise or if it does, it will soar.
Surely someone will ask: Is it still possible to get on now? Answer: It is not too late, not late, not late! But it will be less favorable if you wait too long, as there will be no cost advantage. As the market develops, the channels and time for getting in are gradually shrinking. Once the main upward wave really comes, project prices might reach another level and tonnage.
As the bull market progresses, the best operating strategy is one: choose the value targets you believe in, and if worried, enter slowly. After entering, lie back and enjoy the ride; in a bull market, you just need to get off the bus at the right time. This bull market, which lacks rules, makes it easy to miss the bus. Look at how the price has been consistently rising since the first phase began in April, regardless of the bumps along the way. Do you really want to wait until Q4 or close to the main upward wave to get on? That would only increase your risk unnecessarily.
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1. Futu launches retail trading services for Solana. In July, Futu's founder mentioned the layout for virtual assets, and in August, it came quickly, meaning that more funds will flow in, benefitting the entire ecosystem and SOL, with more Q companies likely to follow suit.
2. The Google search volume for Ethereum has reached an all-time high. It shows that interest in E has for the first time surpassed that of the big brother, making E a global phenomenon once again, thanks to Tom Lee. Today he has once again been bullish; in any case, there is currently no trapped position above E, and it could go anywhere.
3. Upbit operators partner with Vietnam's MB Bank to launch the first local exchange. Even Vietnam is getting into the game. Current data estimates that 3 million Vietnamese people are using crypto assets, and by 2030, there will be 30 million participants, a tenfold growth, representing future market growth potential.
4. Trump: Will appoint a new Federal Reserve chairman as soon as possible.
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