Bear market of the air force? Overseas tycoons eat up Bitcoin for two consecutive weeks

Coin holders, coin holders’ souls, coin holders are all superior people. Hello everyone, I’m Pepe. I should say that this is a slightly restless weekend. Not only has the frequency of price checks and discussions in many communities increased, but the former "monsters and demons" have also begun to emerge again.

All of this stems from the growth of the copycat market. Here’s a picture that’s been trending in overseas communities:

BTC has increased by 157% so far this year, and Ethereum has increased by 272%. However, what is more "violent" is that Litecoin has increased by 35% in a week, and XRP has increased by 44% in a day. The latter two were old coins that were considered hopeless by the leeks and should be eliminated by the times.

The better the market is, the more you should reduce your operations. Today I will briefly mention two points:

1. The story of a big shot buying coins that was all over the domestic screen in the evening.

2. Some recent views on the copycat market.

I think the 2020 Bull Market Cup Cryptocurrency Versailles Literature Prize should be awarded to the following big shot:

Today's big whale players are so bored that they sit in front of the computer and buy all the sell orders, and they can play like this for half a month. I don't know whether the 600 million US dollars he mentioned refers to the purchase of own assets or the holdings of MicroStrategy. According to previous news, MicroStrategy holds 38,000 Bitcoins. If converted to a 14-day purchase, it is almost a buy of more than 27 million US dollars a day. I think the media chose this paragraph to emphasize because they were stunned by this operation.

While many people are sighing over this, I don’t know what the Air Force brothers think.

What really "killed" you was not technical judgment or timing, but the fact that a wealthy man overseas somehow fell in love with Bitcoin one day.

Some friends think that this might be a secret sale to get someone to take over, but in the short term, I think this is overthinking:

Although the market was volatile when this news came out, MicroStrategy CEO Michael Saylor is very impressive himself, with assets worth hundreds of millions or even billions. Not only can he patiently wait for tens of millions of dollars before selling the domain name, but he also has successful investment experience in Apple and Amazon. It can be said that he is not a short-sighted investor. What's more, according to the news two months ago, his cost should be around 10,000 US dollars. He is not at all panicked under the current trend.

Here is a link to the original interview of the above article:

https://www.youtube.com/watch?v=5_nrqJxpJbQ

The translation of Xinbi Magazine has not been completed yet. If you are interested, you can follow the follow-up. I just read the original interview roughly and briefly talked about it:

Michael is so optimistic about Bitcoin for three reasons: first, the network's growth potential. In the 21st century, the best investments are basically those with network attributes and are the largest and most obvious winners in that field. For example, Apple is a network for various mobile smart applications, Facebook is a network for social networking, Amazon is a network for retail, and so on. Bitcoin is also a network and has this growth attribute. Based on the history of the Internet, it is difficult to lose money in the long run if you invest in this kind of target because its value will always grow with the growth of the network.

The other is value storage, which may be a problem that all the rich people in the world will be more entangled with, because no matter which country's legal currency tends to depreciate in the long run, but the degree varies. He believes that BTC may be a means of value storage that surpasses gold. Michael also believes that it will be able to change the plight of people in some economically backward areas without financial infrastructure.

I would like to mention this specifically today, and hope that friends who trade in cryptocurrencies, in addition to watching the market, can also understand the investment perspective of the big whale players in this market.

Of course, I still have to mention here that it is a good thing that more and more big investors are paying attention to this, but in an emerging, especially an absolutely free market, no matter whether you are a big shot or a small shrimp, you may become a leek in the vortex of these price fluctuations. For example, you must have heard recently how many billions Masayoshi Son lost on Big Pie. Whether Boss Mike can finally achieve unity of knowledge and action can only be verified by time.

Therefore, even though I agree with the above logic, I do not recommend that you risk your entire fortune on this product, or recommend it to your friends and family to buy it.

Here are a few more points about the cottage market:

1. I see many friends are asking whether the cryptocurrency market has reached its peak and they should sell it since it has risen so sharply recently?

You can observe the observation lines more often. Whether it is ETH, XRP, or the weaker EOS, the bullish trend on the daily line is still there, with no obvious reversal. Including today's pullback, the amplitude has not exceeded yesterday's increase, so I think we can still observe it.

I remember that during the bull market a few years ago, the price of Yuzu rose by 50% in just one or two days. I was a little panicked at the time, but later I didn’t expect that it was just the beginning. Of course, I am not saying that the script of the alt market must be like this now, but you need to know that when a trend emerges, it will still have a certain delay.

To judge in the short term, you can still use the method mentioned before. See if the market can quickly break through the previous high, like this wave of Bitcoin. If the shock cannot break through for a long time, then you need to be cautious.

2. The market sometimes swings back and forth like a pendulum. If it is overheated, it will drop a little, and no one will be optimistic. Instead, some smart money may sneak in and surprise everyone.

Therefore, especially for the copycat market where style switching is extremely fast, you still need to have some firm holding strategies of your own. Don’t always be influenced by external factors. If someone says this is good today, you chase this one, and then chase that one tomorrow. In the end, you won’t get any gains.

In fact, you can also learn from Mike's approach today, grasp the most essential things, believe that it is undervalued or has growth potential in the future, and have data to prove it. As for the short-term cost geometry, it may not be that important.

3. From today's interview news, it seems that it can be reflected indirectly that Wall Street bigwigs pay more attention to the crypto market because of its value storage, and they really don't pay too much attention to other currencies, even Ethereum. In fact, this can be seen from the premium of Grayscale GBTC and ETHE.

Why did someone like Mike only start to hold Bitcoin positions this year? I don't think he could have been completely unaware of it before. It is possible that the overseas compliance market has made more progress this year, allowing these funds to enter better.

The same will be true for other alts in the future. If they want a broader stage and room for growth, compliance is something that cannot be ignored.