Hello everyone, I am Win Zai.
Today was indeed a "waterfall face wash," as everyone saw. The total market value of cryptocurrencies evaporated 1 trillion dollars in 22 days, and the decline was very fierce.
A very obvious phenomenon is that when gold and silver rise, Bitcoin does not follow; but when gold, silver, and U.S. stocks fall, Bitcoin plummets along with them.
Bitcoin has reached a new low in the early morning. Li Hua has lost 474 million dollars, which is quite exaggerated. This wave of players who call themselves "diamond hands" in the crypto circle have basically suffered heavy losses.
Why is this happening?
It may still be due to the laws of the bull market cycle. Bitcoin has plummeted from the last wave of 120,000 USD, and just around 11 o'clock, Bitcoin broke below 69,000 USD, falling below the previous bull market's peak after 1557 days.
This is very terrifying, indicating that funds are fleeing at full speed; the market cycle is very obvious.
We previously thought the 'four-year cycle' no longer existed, but from the current market situation, the cyclical theory has always existed and has far-reaching effects; the cyclical law remains very strong.
Due to the decline in the overall market, there has been a significant drop across the entire on-chain market.
I looked around at popular AI concept coins, and they are all starting with significant drops, which is very exaggerated. Currently, the market can be said to be in a state of panic; although it has been a long time, when Bitcoin truly starts to plummet, everyone's confidence has diminished a lot.
I've been continuing to study AI Coding for the past couple of days, mainly using OpenCode.
I've written some practical scripts, including:
Record market conditions and trades
Produce news aggregation of popular information
For example, today I used a large language model to create a news aggregation, filtering the market's news hotspots, allowing AI to push updates to me daily; I think this is very valuable.
As for how long the bear market will last, some experienced analysts I know say it might drop to the range of 45,000 to 50,000 USD.
This may be the bottom of the entire bear market, having fallen nearly 70% from the high.
I think Bitcoin's drop is quite normal, after all, this round of explosive growth broke new highs. However, besides Bitcoin, other coins like Ethereum have not shown ideal price performance. This situation has caused such significant losses, which is indeed quite painful.
Of course, everyone should not lose confidence. I believe there are still opportunities in the upcoming cycle, and the cycles in the crypto industry are usually shorter than those in other investment industries.
Additionally, I've also looked into the recently heated 'Loli Island' incident. But actually, that person has already passed, so it can only be regarded as a gossip discussion, it's not that important. What's most important for us right now is to relax and strive to obtain some off-market income.
After this round of cycles, I will gradually clean up the altcoin segment.
During these two years, altcoins have basically been in a 'death' state, lacking new narratives, new hotspots, and wealth creation effects. This is quite distressing, but we must acknowledge this reality.
However, I believe that opportunities still exist in this circle.
No more talking, just leave it at that.
