9.4 The Nightmare of the Coin Circle Plunge Appears Again!

1. Last night, the first trading day of September in the US stock market encountered a "black opening".
2. The Governor of the Bank of Japan reiterated that if the economic and price performance meets expectations, interest rates will continue to rise.

A combination of factors has led to a general downturn in the US stock market sentiment. The market is once again concerned about the risk of economic recession. The decline in the US stock market last night directly led to a decline in the cryptocurrency market. The current market is extremely fragile, and the cryptocurrency market is currently being dominated and influenced by the US stock market. It will still need continuous observation to determine when it will break free.

The pessimistic sentiment in the US stock market has directly affected the cryptocurrency market in recent times. Therefore, we often see a trend of selling off at night and slow recovery during the day. If the overall market is to be bullish, it must be the case that the US stock market, Asia, Europe, and other markets are all relatively optimistic, and only after forming a joint force will a true bull market be generated.

Currently, the trend of Bitcoin is still oscillating at a high level. The rebound was going well, but the US stock market dragged it down last night, which also indirectly reflects the weak trend of the overall market.

The sharp drop in the morning broke through 56,000, breaking the psychological support level for short-term bulls, which will make some bulls start to turn bearish.

4-hour chart

Currently, it has reached the lower end of the wide oscillation. If it cannot return to above 59,000 in the next two days, there is still a possibility of further downward testing in the short term. Leverage users should be mentally prepared. However, the short-term trend will not affect the overall trend.

The market is plummeting. Is it a buying opportunity now?

The Federal Reserve is highly likely to start entering a rate-cutting cycle on September 18, which will greatly affect the market trend in terms of news.

There are only a few days left until the rate cut. CZ Brother is highly likely to release this month. Many projects had planned to go online around September, so regardless of whether the overall market will continue to decline, September is a time full of opportunities. Work hard and try to seize more opportunities.

In the 10 years from 2013 to 2023, only September in 2015, 2016, and 2023 saw a small increase, while the other seven Septembers experienced a sharp decline.

However, the market in October is mostly on the rise, so the saying "golden September and silver October" in the coin circle also exists. It's just that this "golden September" may mean that September may bring a golden opportunity for you to buy the dip!

I don't know where the bottom of Bitcoin is, but what I do know is:

1. Liquidity will come sooner or later. The interest rates raised by the Federal Reserve in the past will inevitably be released as liquidity in the future, and the inauguration of a new president is a good opportunity.
2. Looking at past election years, October to November is generally the market's bottom.
3. After Bitcoin's rise reaches a certain level, altcoins will naturally follow suit.

When it's time to build a position, do it in batches.

If you believe it's a bull market cycle now, don't be afraid of how difficult it is! When it's time to build a position, do it in batches.

On the contrary, if you don't believe, sell everything early! Retire and return home!

I believe! So I'm starting to buy big during big drops and buy small during small drops. The strength of your faith determines how long you hold your position!

So, stick to your own thinking, no regrets whether right or wrong, and go test your own cognition!

In the cryptocurrency industry, if you want to seize the opportunity of the next bull market, you need to have a high-quality circle, where everyone can huddle together for warmth and maintain insight. If you're alone, looking around in confusion, and finding no one, it's actually very difficult to persist in this industry.

If you want to huddle together for warmth, or if you have any doubts, feel free to join us - Official Account: Youthful Coin Enthusiasts

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