Since the beginning of the year, I have publicly bought #BTC and have now purchased four coins at prices of $101,500, $101,000, $95,000, and $88,800. The average cost is $96,575, which is still a bit high, so if it continues to drop, I will keep buying. The next purchase should be around $82,000.
As for the average cost displayed on #Binance, which is $84,404.3, it is because I have a contract for an Ant warehouse, which was opened with a 10x long position at $41,375.4, and I took profit once at $71,000, and I have held it until now. The margin has turned negative, but there is over a 1,100% return, although it is too small to mention. This reason has brought down the average position for Bitcoin, and of course, after closing this position, I will continue to buy BTC.
Next, let me talk about my reasons for bottom fishing. After all, my money didn't come from the wind. It would be foolish to jump into a big pit knowing it's there. I have my own logic for buying, which may only apply to me, so I do not recommend any friends to copy my homework.
First, there was a large amount of selling in the BTC spot ETF yesterday. Although I haven't finished organizing the data, from the perspective of capital, it seems there was panic. So when it reached the Asian time zone, the panic fermented, leading to a large amount of selling and crashing, and at one point, the price of BTC fell below $88,000.
After I got up, I checked what caused such poor sentiment. ETF investors were also exiting, and Asian investors were panicking. It was uncertain how American investors would react later in the evening, so I looked into it and found that the panic was mainly due to three aspects:
Trump plans to strengthen restrictions on Chinese semiconductors, which could escalate the trade war between the two countries. This information had a significant reaction, especially during Asian hours.
Trump's strong stance on tariffs is another reason that triggered investor panic.
There are some differences among G7 countries regarding the ceasefire between Russia and Ukraine, but this difference has almost been resolved recently.
After reviewing all the information, I decided to continue buying according to my previous strategy. If it drops further, I will buy the fifth coin, the sixth coin, or even more. Because I believe that from a trend perspective, it is indeed not very friendly to altcoins, but there hasn't been a fatal problem for Bitcoin yet.
This post is sponsored by @ApeXProtocolCN | Dex With ApeX
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