10x Research: Traders need to pay attention to news and market impact and respond quickly

Odaily Odaily News 10x Research said in a market analysis report released yesterday that one of the most important rules in the cryptocurrency field is that the impact of news on the market will override everything else. Bitcoin and other crypto assets will fluctuate sharply (mostly up) when new catalysts are introduced, but once the news becomes a reality, there will be a sell-off. The key is to understand the importance of the news and react quickly. Traders should (at least) maintain bullish positions until the news becomes a fact. For example, on October 31, 2017, CME announced that it would launch Bitcoin futures "sometime in the fourth quarter of 2017." Before the launch on December 18, 2017, Bitcoin rose by +150%. Similarly, on January 28, 2021, Coinbase announced that it would be directly listed on April 14, 2021. During this period, Bitcoin rose by +80%. We can cite many examples, such as BlackRock's Bitcoin spot ETF filing on June 15, 2023. This is why we are so bullish on Bitcoin in Q4 2023 as a similar strategy is in play that could spark a massive rally.