Market sentiment is panic, but there is still hope amid the decline!
BTC broke below the $60,000 support level amid heavy selling pressure, with BTC miners showing signs of capitulation, which historically has usually meant a bottom for prices. The last comparable drop in hashrate occurred in 2022, when Bitcoin was trading at $17,000.
Additionally, despite the severe sell-off in the crypto markets, the options market remains optimistic, with a particular heavy bias towards ETH call options expiring in September and December.
Market analysis believes that considering the recent selling pressure from Bitcoin, as well as factors such as Mt.Gox, miners and government regulation, ETH is likely to see a stronger rebound due to the upcoming filing of the Ethereum spot S-1 filing.
What stage is the cryptocurrency circle in now?
If we look at the previous bull and bear stages, we are now in the monkey market stage between the small bull market and the big bull market in the cryptocurrency circle. The cryptocurrency circle has a four-year cycle, one year of bear market, one year of bottoming out, half a year of small bull market, half a year of monkey market, and one year of big bull market. Before the big bull market comes, there must be a half-year monkey market to clean up the floating chips in the market. This round of small bull market will start in October 2023 and end in March 2024, which is almost half a year.
The Monkey Market started in April 2024 and will probably end in August. It depends on whether this wave of washout is thorough or not. If it is thorough, the Monkey Market can end early, and if it is not thorough, it will end in September. Now the currency circle is in the Monkey Market stage between the small bull market and the big bull market! The big bull market will probably start in October and end in April 2025. The big one has not come yet, so wait and see for opportunities!
Top 5 Low Market Cap Altcoins That Could Grow More Than 100x ROI in 2024!
1.GFT
Gifto is a blockchain-based gifting platform dedicated to building a more connected and inclusive digital world. It offers a range of features including the Gifto staking platform, Web3 Gifto wallet, NFT generation, charity features, and future innovations. Gifto was launched in 2017 and is one of the pioneers in blockchain technology. It continues to grow and its native token has changed from GTO to GFT to adapt to the advancement of blockchain technology.
The only risk of GFT is being delisted! Basically, the K-line structure has no room for decline. There is hot money in GFT, but the main structure is not strong! If you don’t consider the risk of being delisted, you can ambush at a low price! Of course, if it is delisted, it is normal to lose dozens of points! The chip structure line is scattered, and there are signs of hot money activities! But there is no big pattern operation chart!
2. XI
XAI coin is the native cryptocurrency of the Xai network. The main uses of this token are as follows: as a designated gas token to facilitate transactions within the network; rewarded to validator nodes; as the main token in the gaming ecosystem: becoming a payment method for games and in-game items.
XAI Be sure to check the unlocking status of the chips! Pay attention to the subsequent unlocking process before participating! Normal logic XAI If you are trapped, then you should pay attention to the small level, when will the 4-hour level stop falling? If it stops falling, you can cover your position and make a rebound difference!
3. YUP
JUP coin is the native currency of the Jupiter project. JUP coin exists on the popular Ethereum network and is a platform designed to make blockchain open, secure and accessible to everyone. Jupiter's military-grade security technology can be used to help provide secure Dapps on public and private networks. Jupiter is committed to storing data securely on the blockchain. The current "Web2.0" solution for data storage is cloud computing.
JUP is a weighted variety in the SOL ecosystem. The market value of JUP is slightly too large! Today, UP was listed. One needle solved the buying of UP! It is a mistaken killing within the day. The market is too bad! The market does not buy it! However, if the structure of JUP goes down by another 20%, there will be a golden pit. You can buy it around 0.63. The market mistaken killing information is the basis! Buying JUP at 0.58-0.63 should have a very high probability of making money!
4.TON
TON (The Open Network) is a decentralized network originally conceived by Telegram founders Nikolai Durov and Pavel Durov, aiming to build an open Internet environment.
Toncoin (TON), the open network, has been a standout performer in the second quarter, making it the best performer among the top 50 cryptocurrencies by market cap. The report shows that TON’s value has surged by more than 40% in the past 90 days, making it the eighth-best cryptocurrency by market cap. During this period, the TON network’s daily activity surged to new highs, with its daily active addresses surpassing Ethereum at one point last quarter.
5. WHAT
Kaspa is a Layer 1 public chain that uses the same PoW consensus mechanism as Bitcoin to maintain network operation. Unlike traditional blockchains such as Bitcoin, Kaspa uses the BlockDAG architecture, which allows blocks to be generated in parallel without linear connections, thereby increasing transaction speed and network throughput.
Its native token KAS rose by about 41% during the period. This rise is related to the decision of Marathon Digital, the largest Bitcoin mining company, to start mining tokens of the PoW blockchain as part of its diversification of revenue. In addition, the three companies with the largest gains during the reporting period also include PEPE memecoin, which rose by 35%.
