Recommended reading today: 8.31 JiaoChain Internal Reference " The US Securities Regulatory Commission Delays All BTC Spot ETF Applications ". Liu Jiaolian Pro " BTC Flow Rate ".
* * * Original by Liu Jiaolian * * *
It was originally the deadline of September 2, but the US SEC hurriedly announced last night that all applications for spot Bitcoin ETFs would be postponed. No matter you are BlackRock, Fidelity, or whoever, postpone it. Although it was basically in line with market expectations, it still couldn't stop the short-term speculators who rushed into the market a few days ago due to the impact of Grayscale's victory in the lawsuit to retreat. Overnight, Bitcoin fell from the 27k line back to the previous level. 26k fluctuates up and down.
As a result, we had a negative August. The opening price was 29k, the highest was 30k, the lowest was 24k, and the closing price was 27k. In June, it closed down, in July, it closed down, and in August, it continued to close down. The market has achieved something: three consecutive losses.
So today, 9.1, is the #6 update of our "Ten Years Promise" empirical counterpart. The 6th time, because August closed down, I added to my position on the dip.
After the last increase in 8A(8.6) #5's position, Jiaolian's position has entered a floating loss state.
8A (8.6) after voting: voted = 5000. Position = 2,435,960 Satoshi. Present value of position (8.6) = 4955. ROI = -1%.
This time, 8B (9.1) increased the position when it fell, and still invested the planned principal of 1,000. Since the exchange rate has reached 7.33, it is equivalent to 137u. Direct market order entry.
8B (9.1) Increase your position on dips: principal = 1,000. Reduced to U = 137u. Volume = 527,198 satoshis.
8B(9.1) After voting: Voted = 6000. Position = 2,962,632 satoshis. Current value of position (9.1) = 5389. ROI = -10%. As the market continued to decline, floating losses further expanded.
Compared with the expansion of floating losses, we should pay more attention to: 1. The growth of positions. Compared with 1.96 million Satoshi in July, the position increased to 2.96 million Satoshi in August, an increase of more than half. Second, the cost of holding positions is reduced. In July it was 4000/196 = 20.41, and in August it dropped to 6000/296 = 20.27, a decrease of about 7 thousandths.
Basically, when the market goes up, we will reap the increase in the value of the position. When the market goes down, we will gain more and cheaper satoshis, which means we will have a thicker position.
Market price is the external factor of profit. The number of positions is the internal factor of profit.
Demand is the external cause of price. Supply is the internal cause of price.
More than 99% of popular information focuses on external factors. Less than 1% of the information focuses on internal factors.
Smart people chase external causes. A wise person adheres to internal causes.
The internal cause is the main contradiction. External causes are secondary contradictions.
Internal factors determine external factors.
So ten appointments.
* * * Original by Liu Jiaolian * * *
Today’s Recommended Reading: 8.31 JiaoChain Internal Reference “ The U.S. Securities and Exchange Commission Delays All BTC Spot ETF Applications ”
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(Disclaimer: None of the content in this article constitutes any investment advice. Cryptocurrency is an extremely high-risk product and may return to zero at any time. Please participate with caution and be responsible for yourself.)