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Today is May 18th, BTC price is 76,925
Today is a very pessimistic day, and the main reason is not that I lost a lot of money, but that I feel a deep sense of helplessness towards this industry, and I am beginning to feel confused about the prospects of the crypto world. Spending over ten hours every day monitoring the market and analyzing macro content, since last year all my faith has been slowly fading.
Geopolitical conflicts cause gold to surge wildly, but digital gold BTC does not rise; okay, the market then classifies BTC as tech stocks, and tech stocks surge wildly while BTC still doesn’t move. Finally, BTC is categorized as a commodity, with inflationary trends causing commodities to surge wildly while BTC remains stagnant. After all, it’s mined through electricity, recognized for its scarcity, broad applicability, and convenience. As a financial product, in today’s environment of currency flooding and intensified inflation, what exactly is BTC?
This morning, two pieces of bad news: the US and China plan to restart the war, Iran intends to cut underwater cables, and the market responded with a drop—gold, stocks, BTC all plunged; then gold and stocks rebounded, and Korean stocks went from a trading halt to closing with gains. Only BTC continued to fall without any sign of stabilization. Damn, is there any justice? If the US stock market opens lower tonight, we might face another situation where it drops with no follow-up rise.
This is no longer a market that can be predicted by technical analysis and macro understanding; it’s a process where this industry is gradually losing faith. As long as big funds place orders, the market will target them; as long as there is bad news—true or false—the market will fall. Every day is so agonizing. What exactly is BTC now? Who the hell can tell me?