Bitcoins dramatic plunge and recovery Whats the future market outlook The MEME wealth myth Why didnt you make it

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Bitcoin plummets and rebounds, standing back up!
The latest poll conducted by Reuters, an American news agency, shows that Harris leads Trump with 46%, while Trump has 43%. Last week, Trump led Harris with 50% compared to Harris’s 48%. Therefore, some off-site institutions will also refer to this data. Of course, on Polymarket, Trump is indeed far ahead, with a lead of 64.3% to 35.6%. Currently, many people have begun to question that most of the voters on Polymarket are non-Americans.
Regardless, Trump’s reversal in the poll will definitely affect the cryptocurrency market, and this is one of the reasons why large funds are starting to withdraw.


Yesterday, BTC continued to consolidate and pull back, with a pullback exceeding expectations. There were no obvious negative factors, and it was purely a sell-off by funds. It has been in a pullback trend for three consecutive days, indicating that it is still difficult to surge to 70,000. There is extremely terrifying selling pressure around 70,000. The drop from 69,500 on Monday was also on high volume, and then it has been a downward trend these days.
I expect a period of consolidation around 66,000, during which the funds leaving the market will still be those seeking refuge due to the uncertainty of the election.
As for the future of the cryptocurrency market, I have my own opinion.
The future trend will still be a slow bull market. You can understand it as BTC continuously washing out chips through fluctuations and continuously absorbing funds, gradually increasing the value of the chips in everyone’s hands. Eventually, institutions will have control over BTC pricing. The future market is expected to:
1. Suddenly stopping here is definitely not reasonable. Theoretically, after the bulldozer pattern, there will be an enlarged bullish candlestick.
2. There is the influence of news related to the US election. Therefore, market makers may take action before and after the election. Therefore, the market trend may be postponed until November.
3. If Biden wins, he will promise to spend 100E to buy cryptocurrencies, which is a huge positive factor. In this case, the stoppage in washing out chips will be suspicious.
4. Therefore, if there are signals of a bottom in the short term, we should establish both short-term and trend positions, and then observe the stretching situation. If the trend is good, continue to hold the trend position. Otherwise, focus on short-term positions.
5. Where will it rise to and fall to? I really don’t know. I can only tell you that the upward trend has not changed, and 65,500 will be a good support level. Go with the trend, counter the minor trend, manage expectations well, manage risks well, and do everything we can. After all, in this market, none of us can control it.
There is a guy who bought a certain meme for $600 and gained nearly 5% of the chips, turning it into nearly 2 million in the short term.
This story has been widely circulated, causing retail investors to salivate and think, “I also have $600, I can do it too!” Can small retail investors really get rich quick from memes? Indeed, it is possible, but it is very different from what you might think.
1. First of all, I have conducted investigations before. Nearly 80% of retail investors lose in Pvp and suffer losses. You must first ensure that you are not among that 80%.
2. Secondly, based on my own practical experience, I have competed with market makers many times. If a retail investor eats up 5% of the chips individually, the market makers will generally not boost the market. Just look at the memes with high market value; only a few percent of the chips are in the pool. Is it possible for a retail investor to empty the pool after the market makers spend money and manpower to boost the market?
3. In my competition with market makers, I found that when an individual address increases its position by 1% or 1.5%, smaller-scale market makers will simply stop boosting the market. They will start shaking and grinding the chips. If you don’t get off the ride, the market makers may abandon the market. Think about it, with your $600 in this negative-sum game, whose money are you making?
4. Generally, market makers will eat up to 90% of the chips and deduct the pool before considering boosting the market. The chips in the hands of retail investors are the poison and the operating cost for market makers. There are not many chips outside in the market makers’ eyes.
There are also many people who say, “The heyday of the cryptocurrency market is gone. It’s really hard to make money in the cryptocurrency market now. Bitcoin, the leader in the cryptocurrency market, couldn’t outperform Nvidia, the leader in the US stock market. BNB, the platform coin, couldn’t outperform Coinbase stock. Even Ethereum couldn’t outperform BNB.”
All I can say is that their approach is wrong. In the current market situation, doing short-term trades and holding onto good positions is the best answer!