Market Analysis: Bottom-fishing and building positions should only occur after meeting three conditions, including large-scale market turnover and an MVRV-Z score below 0.
According to Odaily, Honest Mai posted on X stating that he had liquidated all his positions around the time of the interest rate cut in September and remains bearish on the market. He believes that liquidity will not improve this year and continues to expect a bear market. He will only bottom-fish and establish long-term positions after three conditions are met:
1. The secondary market sees an absolute large-scale turnover (capitulation);
2. The MVRV-Z score drops below 0 (currently, this indicator is at 0.77);
3. A "BTC capitulation" event similar to the FTX incident or the BCH fork occurs.
He stated that he is prepared for the market to drop another 40-50%, and will go all in once the above conditions are met.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Electra Battery Materials Gets Preliminary Engineering Results for Initial Phase of Proposed Nickel Refinery
SK hynix (SKHY.US) responds to rumors of joint chip manufacturing with Intel in the US: No final decision has been made yet
SK Hynix (SKHY.US) has denied rumors that it is in discussions with Intel (INTC.US) regarding the production of memory chips in the United States for the first time.

Canada's Housing Starts Downward Trend Seen Continuing After August's Unchanged Data, CMHC Says
--August US Retail Sales Ex Auto Rise 1.4% Vs. Expected 0.6% Gain, Prior 0.2% Decline
