Bitcoin has been fluctuating repeatedly recently, hovering between $60,000 and $63,000, which has confused many investors. They even wondered if the bull market had ended prematurely, and then the market entered a consolidation period, with a deep washout of three or four years...
How can I say this? Check out the news. There are still three pieces of news today, and the last one is indeed a major positive news.
Let’s look at the first one.
As the undisputed leader in the cryptocurrency world, Bitcoin's trading volume and price fluctuations are directly related to the cryptocurrency industry with a market value of $2.3 trillion.
The global Bitcoin spot ETF holds 949,000 Bitcoins. Last week, the US Bitcoin spot ETF bought 1,318 Bitcoins, which is a very obvious and positive entry signal. Some people are still expecting Bitcoin to fall below $50,000, but I am afraid they will be disappointed. Of course, if you have entered the market when Bitcoin price was around $56,000, congratulations on seizing the excellent appreciation opportunity.
The second piece of information is more interesting and has more depth.
The meaning is simple. The cryptocurrency market is similar to the stock market. When the market falls, the related currencies fall. At this time, assets that go against the market trend have more investment value.
That is, those currencies whose prices remain strong or do not fall much when the market is generally falling, or even those whose prices are not only resistant to falling but can rise against the trend. These are the key products worthy of investors' long-term attention.
Therefore, during periods of large fluctuations, the currencies that do not fluctuate too much are the ones we should grasp and hold.
Why does the author call the third piece of information "big good news"? First, here is the picture.
Why can Bitcoin surpass silver and become the world's eighth largest asset? This is absolutely true. Bitcoin's volatility is lower than that of well-known technology stocks such as Tesla and Nvidia. In other words, Bitcoin is very stable. Although it has been fluctuating since it broke through the historical high in March, from $73,000 to the current $60,000, the decline in volatility has attracted more investors to enter the market.
Investors are optimistic and it is becoming more realistic to trigger a sharp rise in Bitcoin prices. Once Bitcoin breaks through $70,000 or even $100,000 or $150,000 again, you can imagine how lively the entire cryptocurrency industry will be.
As long as you firmly choose to believe in the cryptocurrency industry and the value of Bitcoin, everything will become natural.
When it comes to investing, you don’t need to listen to too many people. Blind followers will never get rich.
Pay more attention to information, listen to your heart, and the future will be promising.
——2024.5.11 Mingyuan
