Interpretation of cryptocurrency market on Nov 15 2022

Yesterday CZ announced that Binance would set up an industry recovery fund. To help quality projects that are currently in a liquidity crisis due to the impact of FTX. Justin also said he would participate in Binance's industry recovery fund. The market saw a rapid rally as a result of the related comments.

FTX has undermined industry confidence to a certain extent. But for the blockchain and crypto markets, which are in a period of rapid development, the short-term 'pain' will accelerate the industry's progress. The crypto industry will disappear because of FTX. The market is still that huge and will get stronger. It's just that the territory belonging to FTX has been renamed and changed now.

As for trading, long-term positions will probably only take action for a short time. The judgment that the moment is at the bottom of the bear's end range will not be changed either. The most important thing to do is naturally to enter and hold. It is essential to see not only the crisis but also the opportunity behind the crisis. After all, without unexpected events, valuable assets hardly appear at a price suitable for entry.