The digital currency market hits the bottom again

Most investors believe that the beginning of this sharp drop was caused by a series of "cutting leeks" by Musk, the helmsman of Tesla. From Grayscale's increase in holdings of Bitcoin and a series of digital currencies to Tesla's announcement of accepting Bitcoin payments, and then Musk's call for Dogecoin on social media, the digital currency market has been rising all the way, but as Tesla stopped Bitcoin payments, Bitcoin has been falling all the way, and Musk has become the "public enemy of the cryptocurrency circle." Trump "governed the country with Twitter", and now Musk "speculated on cryptocurrencies with Twitter."

After Bitcoin fell below the strong support level of $38,000, the State Council Financial Committee cracked down on mining and trading, and Bitcoin plummeted by $3,000 in 10 minutes. As of today, the digital currency market continues to fall. The price of stable currency USDT has fallen recently, and some investors believe that this is a panic withdrawal caused by profit-taking or selling behavior. In addition, some investors, especially old participants in the digital currency industry, believe that the 519 plunge is a deleveraging behavior, and the panic caused by the policy can continue to deleverage, which is the beginning of the market gradually moving towards a virtuous cycle. Before the specific details are released, any gossip is market speculation.

When investing, your biggest enemy is yourself. When losing money, your biggest enemy is also yourself. In a bull market, it is the happiest to trade only once, buying and selling once, although it is difficult to do. Bitcoin has still created many wealth myths and brought many sad stories this time, but looking at the entire history of Bitcoin, the price in almost all bear markets is higher than the price in the previous bull market.

If you don’t have the ability to go all in, try to keep some cash and don’t play with contracts, because when the tide goes out, those who are left behind are just swimming naked.

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