Bitcoin is moving sideways with a shrinking volume, washing out profitable positions at the bottom. When the market maker is satisfied with the trading volume, the price will be pulled up to $ 800 / 5000RMB. Bitcoin will move sideways at this level for a long time with a small trading volume.

We can view the speculation of Bitcoin from another perspective; we are buying fiat-money with BTC, not vice versa. Fiat-money is in a long-term downward trend, so we’d better hold bitcoin for most of the time, unless there is a clear rebound of fiat-money. This is the basic principle. Once again, if you do not believe in the future of 3,000,000RMB/BTC, do not speculate in this market, you will easily lose.

Litecoin rose sharply yesterday because of BTCChina’s acceptance, it has reached its previous “compact area”. This area is too crowded, so I am not optimistic about its future price. I suggest you exchange LTC into BTC.

Besides, I will no longer recommend altcoins. Although I announced the buying limit over and over again every time I recommended, few people can strictly abide by my trading discipline. The example of 1.2^100= 80 million is futile. In fact, this behavior can be generalized, why a lot of people are always unlucky? Because they don’t’ comply with the principles.

No matter how accurate I predict, most people will lose money, not to mention the fact that my accuracy is actually not that high. Remember: I am making money by compliance with the discipline, not by accurate predictions.