Fuda: Bitcoin is nearing the base support line of the Elm Model, or will enter the historical accumulation area

According to Julien Timmer, Global Macro Manager, Fuda, Bitcoin is approaching the base support line of its “synthetic model” based on the history of the full price of Bitcoin, which currently stands at approximately $58,000, while the current price of Bitcoin is approximately $6.27 million, which is moving closer to the region or into the “accumulation area” defined by the model. However, Julien Timmer did not confirm that the market had reached its bottom, but rather believed that Bitcoin might not immediately rebound, but rather that it would shock in the vicinity of a long-term support line for months, after short-line funds had left the field, and that the flow of funds had gone through the wheel of shifting from Bitcoin to gold and from gold to semiconductor plates, and that the market's hot spots were still concentrated in the semiconductor area。