Blockstream CEO: There have been six 30% declines in bull markets historically, suggesting to buy on dips
Blockstream CEO Adam Back posted on social media that there have been six 30% declines in historical bull markets, and this decline is about 26%. In fact, the recent decline is not large, he suggests investors not to panic and buy when the price is low.
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The US dollar has fallen for two consecutive months, and the US Treasury's buyback has forced speculators to retreat; the hawkish stance of Waller only resulted in a one-day rebound.
The US dollar extended its decline in August, with the Bloomberg Dollar Spot Index down 0.9%, marking its second consecutive monthly drop. US Treasury Secretary Besant expanded the Treasury buyback program, sparking market speculation that US policies are intended to guide the dollar lower. Although Fed Chair Walsh reaffirmed the 2% inflation target and fueled expectations of further rate hikes, Wells Fargo warned that the Fed may not deliver on these expectations and the dollar’s weakness could persist.
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