Bitcoins Sharp Decline and Recovery Whats Next for the Market The Myth of MEMEs Sudden Wealth Why Arent You Included

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Bitcoin plunges and then returns, standing tall again!
The latest poll conducted by Reuters shows that Harris leads Trump by 46% to 43%. Last week, Trump led Harris by 50% to 48%. Therefore, this data will be referenced by some off-site institutions. Of course, Trump is indeed far ahead on Polymarket, with a lead of 64.3% to 35.6%. Currently, many people have begun to question whether the people voting on Polymarket are mostly non-Americans.
Regardless, the fact that Trump has been overtaken in the polls is definitely affecting the cryptocurrency market, and it is one of the reasons why large funds are starting to withdraw.


Yesterday, BTC continued to consolidate and pull back. The pullback exceeded expectations and there were no apparent negative factors. It was purely a result of capital dumping. The market has been in a pullback phase for three consecutive days, indicating that it is still difficult for BTC to break through the 70,000 mark. There is tremendous selling pressure around 70,000, and the drop from 69,500 on Monday was also accompanied by significant trading volume. The market has been in a downward trend for the past few days.
I expect there will be a period of consolidation around 66,000, during which funds will continue to leave the market due to the uncertainty of the election.
As for the future of the cryptocurrency market, I have a perspective:
In the future, the market will still experience a slow bull run. You can understand it as BTC continuously shaking out weak hands, continuously accumulating, and pushing up the price of the chips in everyone’s hands. Eventually, institutions will have control over the pricing of BTC. The future market is expected to:
1. Suddenly come to a halt, which is definitely not in line with common sense. In theory, after the bulldozer pattern, there should be an enlarged bullish candle.
2. There is the influence of the news regarding the U.S. election. Therefore, market makers may take action before and after the election. Therefore, the market trend may be delayed until November.
3. If Biden wins, he will promise to spend 100E to buy “big pancake”, which is a huge positive. This will lead to an upward trend, so the sudden halt in the shakeout has some tricks behind it.
4. Therefore, if there are signals of a bottom in the short term, we will establish short-term and trend positions together. Then, we will observe the stretching situation. If the trend is good, we will continue to hold the trend position. Otherwise, we will only focus on the short term.
5. I really don’t know how high or low it will go next. All I can tell you is that the upward trend has not changed, and 65,500 will be a good support level. Follow the overall trend, go against the minor trend, manage expectations, and control risks. We can only do what we can, as no one can control this market.
There is a guy who bought a meme with $600 and earned nearly 5% of the chips, turning it into nearly $2 million in the short term.
This story has spread widely, causing retail investors to drool and think, “I also have $600, I can do it too!” Can small retail investors really get rich quick from memes? It is indeed possible, but it is very different from what you think.
1. First of all, I have conducted surveys before. Nearly 80% of retail investors lose in Pvp. You have to make sure that you are not part of that 80%.
2. Secondly, based on my own practical experience, I have played against market makers many times. If a retail investor eats up 5% of the chips, the market maker will not pump up the price. Look at those high market value memes, the chips in the pool are only a few percentage points. After spending money and manpower to pump up the price, will they allow a retail investor to drain the pool? Is that possible?
3. In my experience of playing against market makers, I found that if an individual address increases its position by 1% or even 5%, small-scale market makers will stop pumping up the price. They will start shaking the market and grinding it. If you don’t get off the bus, the market makers may give up. Think about it, with your $600, whose money are you making in this zero-sum game?
4. Market makers usually eat up to 90% of the chips and subtract the pool before considering pumping up the price. The chips in the hands of retail investors are poison to market makers and a cost of manipulation. There aren’t many chips outside of the market maker’s control.
Many people also say, “The heyday of the cryptocurrency market is over, and it’s really difficult to make money in the market now. Bitcoin, the leader of the cryptocurrency market, hasn’t outperformed Nvidia, the leader of the U.S. stock market, and BNB, the platform coin, hasn’t outperformed Coinbase’s stock. Even Ethereum hasn’t outperformed BNB.”
All I can say is that their methods are wrong. In the current market, short-term trading and holding onto your assets is the best answer!