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Following the provocative declines within the cryptocurrency market in present days, Liquid Capital (previously LD Capital) founder Yi Lihua made out of the ordinary assessments on his inside of most social media myth.
Yi Lihua mentioned that this decline was “precipitated by a few factors,” and launched that he had utterly liquidated all his positions for the main time. Lihua, who previously handiest borrowed with leverage, explained that there have confidence been four main causes within the advantage of his determination:
- Bitcoin reaching solid resistance level: Lihua mentioned that Bitcoin has reached a brand unique high but with no solid particular breakout, a pullback is inevitable.
- Man made upward thrust in US inventory markets: He argued that US inventory markets had made unique highs, that synthetic intelligence and semiconductor companies in particular were taking part in a “Ponzi sport” and that this upward thrust was no longer sustainable.
- Political change and previous-time rate hassle in Japan: He mentioned that with the change of high minister on the agenda in Japan, the difficulty of an hobby rate hike has increased and previous-time rates proceed to upward thrust.
- Altcoin shatter and memecoin create: Lihua mentioned that the present memecoin craze has sucked liquidity from the market, successfully “killing” most altcoins.
*Here will not be any longer investment recommendation.
