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Currently, Bitcoin is still near its previous high of $69,000. This round of adjustment from $73,000 to $60,000 represents a nearly 20% decline, consistent with the historical pattern of 15-20% corrections during bull markets. The day before yesterday, Bitcoin experienced a sharp decline, followed by a sudden rise yesterday, rallying to $71,800. Last night, it dropped from $71,800 to $68,534 in one fell swoop. In fact, these movements are all preparations for the future direction. In my opinion, it is preparation for an upward movement, inserting needles back and forth to clear out long positions. So, for those who still want to get on board, consider buying in the range of $63,000 to $64,000. If you are worried about missing out, the current position is highly likely to be a continuation of the upward trend.
Additionally, it's worth noting that on March 29th, Bitcoin saw its largest-ever options expiration, with a major pain point at $50,000, and Ethereum's major pain point at $2,600. It's unclear whether selling institutions will try to minimize losses by selling off, but if they do, it presents an opportunity. Regarding Ethereum, there has been a lot of FUD recently, but there is no need to worry too much. From a fundamental perspective, we see its thriving ecosystem surpassing that of all other public chains combined. Those high-throughput public chains are still in the stage of imitating Ethereum, and there is still a long way to go before they can surpass it. Moreover, Ethereum has its own Layer 2 solutions to compete with other public chains. I am optimistic about Ethereum's future. The fact that a staking protocol like ETHFI can increase several times shows the strong demand in the Ethereum staking market, indirectly reflecting Ethereum's value. As the staking amount increases, the circulating supply of Ethereum will decrease, which will also help drive up the price of ETH. Overall, the market is currently experiencing a normal consolidation period, and we don't know when we'll reach the anticipated $100,000. Perhaps the future is right around the corner.
Regarding altcoins:
With the launch of ETH Restake and the continuous development of Bitcoin's Layer 2 ecosystem in April, there will be more new developments. At the same time, a large amount of funds will be drawn from other tracks, and the biggest beneficiaries will still be Bitcoin and Ethereum. A large amount of liquidity has been locked into pools, so it is advisable to pay more attention to tokens related to these two sectors.
Short-term:
You can take a look at AEVO. AEVO had a brutal washout by the main force earlier, typical of European and American capital controlling coins. Institutional investment is strong: 110 million coins were initially circulated by first-line institutions, with 80 million coins locked, and only 30 million coins truly circulating. The rules are somewhat like a Ponzi scheme and may continue to rally. Once there is a major pullback, immediately set a stop-loss.
There is also FET, AGIX, and OCEAN merging into a new coin called ASI. The merger of the three AI giants is a positive development. The last time Keep Network and Nucypher merged, they became $T, and before the merger, each rallied 3-4 times, which can serve as a reference.
When the cryptocurrency market is booming, you can make a profit no matter how you play, but you need to understand that the cryptocurrency market will not always be bullish!!! When to buy and when to sell in the cryptocurrency market is crucial. If you want to achieve higher returns, the choice is yours, and choice is greater than effort! |
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Post time 10-4-2024 07:39:43