How did this bull market come about? Is it still going on?
In early 23rd year, Xiong Chu’s chaotic harvest:
1. The market sentiment stirred up by sol and bonk is at a freezing point, and there is still a strong bear market atmosphere. In January last year, I wrote that the bull market was about to begin. The basis for my statement at the time was the rebound of sol from 8, and the wave of traffic brought by bonk in the sol ecosystem. Although it sounds very rational, I think a hungry market only needs a little bit of incitement to easily ignite the flame of a bull market.
2. The Shanghai upgrade ran fast. Afterwards, there were some sporadic increases, and suddenly people turned to hype the only hot spot that could be found at the time: the Shanghai upgrade. A false news notification in the Shanghai upgrade could scare people into falling sharply. At that time, people were still in a bear market mood and were very cautious. The SSV was delayed, and the market makers took advantage of the market to sign a market-making convention. Retail investors shouted orders together, and the market rose well at the beginning, but then it was a race to see who could run first. The Shanghai upgrade was said to be in April, but this wave of market conditions burned in February - VCs and retail investors were all rushing to run. Looking back now, the Shanghai upgrade and Hong Kong downgrade had no impact at all, but at that time, if you had entered this concept earlier and promoted the market makers who established it, you would have reaped a lot of benefits - if you were a firm believer, you would have been trapped, which is the same as today.
3. The rise of Inscription At the end of April, I opened a short position and posted articles intensively, saying that Ordi was a great opportunity for ordinary people to change their destiny. Unexpectedly, it rose from 1u to 29u in half a month, which was too fast. But after that, all chains were using Inscription, and everyone was using Inscription. The money of retail investors was not enough to charge, and the flow of wealth accelerated. So after July, the market was dead silent, and the drumbeat of Inscription weakened.
4. Bot was a flash in the pan. Unibot and Banana bot gained some popularity at the time, but it failed to last because they were very dependent on the overall market. As mentioned above, when the inscription collapsed, everyone was left with no money, and things became very tragic.
VC coins and Bitcoin ETF take off in a spiral TIA has emerged in the quiet market, rising from 20 to 20, with huge trading volume. This also makes me optimistic about the future of VC coins. At first, some tokens also had a wealth effect, including tokens listed on Binance. Especially the expectation of Bitcoin ETF and the actual inflow of funds after its approval, some people in the market began to have money, so their money flowed to meme for the first time. Sol's dealers also worked very hard and performed well with meme. However, it is similar to the above inscriptions and the end of Shanghai upgrade. A large number of VC coins and meme coins went online, resulting in a very fast flow of money in the market, and a group of people became rich, and a group of people were locked in or lost everything.
In this part, a big feeling is that in this pvp market, everyone has indicated that they can't have too many illusions, especially the current consensus is: venture capital, project parties, market makers, retail investors, everyone knows that they can't last forever, and they need to ship at the right time, which will lead to a result: these cottage bull markets are unlikely to happen again. Only when a certain situation occurs will the market come back, that is, there must be a certain situation that allows a group of people to get money, and the market will rise again to attract attention. For example, Shanghai upgrades, Wenchang, Bitcoin ETF, etc., are actually the same. Only when someone helps, angels know how to find, and then someone helps - airdrop parties and market makers. Although the overall market value of the new meme coin is not large, it can't withstand the 100% growth, which sucks up another part of the market's liquidity.
So the question now is that retail investors have no money, and most people don’t need help. Who can we expect to take over? Where is the money to buy BTC at 61,000 now? When will the dealer dare to pull the price of VC coins, and can he make money if he pulls it?
Also, whether to speculate on new or old is not absolute! If you speculate on new, you must run away in time, otherwise you will be buried half in the ground, like ena. Isn’t that a miserable death?
Old mainstream coins may not fluctuate too much, but the losses will not be too much. For example, LTC is motionless. Although it is said that if it does not move, it is a turtle, but after the decline in the past few months, buying it is really a hedge! You must learn to stop profit and stop loss when buying any coin~
In the second half of 2024, these 5 altcoins can help you turn your life around, pay attention
1 Audi (ORDI) 38 to 20 range, buy and hold without thinking, the last selling target is 57 to 63. Only by breaking through 63U strongly and standing firm can it finally reach the previous high of 90U. This is also the last chance.
2 Solana (SOL) 128U strong support, long-term pressure target 173U, break through here to reach 200U. The bear market has fallen to the single digit 9u, if you can still remember it after a few years, it will be your day to make a fortune.
3 ASI (not yet online) predecessor FET, no brainer to hold below 1.4U, long-term goal is to double
4 people If it falls back to around 0.046 before November, it is a no-brainer to buy and hold
5 PEPE Super large cycle fortune-making and coin hoarding point 0.000005 (6 zeros) Buy and hold without thinking, don’t sell until it doubles.
In general, these five altcoins are now being added by institutions and retail investors as their own choices. If they can return to the position I want in the future, then they will be a good choice in the second half of 2024.
However, before investing in any of them, it is important to allocate positions and positions for each coin, do your own research and weigh your personal risk tolerance.
