So, what happened in the past two days? Let's first briefly review some of the negative news in the past few days:
- Regarding the compensation of Mt. Gox: Mt. Gox plans to distribute 142,000 BTC to its customers. We have already discussed this in detail in our previous article (July 4).
- Bitcoin ETF: The inflow/outflow of ETF funds also represents the sentiment of large investment institutions to some extent. Currently, Bitcoin ETF holds 5% of the total supply of Bitcoin. At the beginning of this month (July), ETFs saw capital outflows again. These changes also brought some pressure to the market and indirectly affected people's sentiment. As shown in the figure below.
- Government sells off Bitcoin: At the beginning of this year, German police seized more than 50,000 Bitcoins, and these Bitcoins finally began to be transferred and sold in June this year. According to Arkham data, the German government has sold almost 10,000 Bitcoins recently, and now has more than 40,000 Bitcoins left. As shown in the figure below.
One more reminder: Don’t buy at the bottom easily!
The bottom is flat, and there will be a chance for you to get on board, so now is definitely not the bottom. Especially for altcoins, many altcoins have already fallen below the major level and cannot be repaired in a short period of time. And judging from the market situation, a large number of altcoins are already on the road to death.
Which coins should I buy now?
In addition to Bitcoin, Ethereum and Sol, everyone is definitely looking to buy low-market-cap altcoins in the hope of pursuing higher returns.
With the market conditions so bad, can altcoins still make money?
It is certainly possible to make money, but whether you can return to the peak is questionable.
I think the bull market has not reached its peak yet. As for whether some specific currencies can make a profit, I really don’t know.
Because if many copycat stocks fall, they may never rise again.
My suggestion is: if you own some copycat stocks that did not rebound when the market rebounded, you don’t have to hold on to them and can sell them.
Buy those altcoins that have a high probability of rebounding together with the market.
So how do you determine which copycat stocks will rebound with the market in the future? In fact, it is very simple. Just look at the data collected by others.
There is a high probability that the Meme, RWA and AI sectors will rebound along with the broader market in the future.
Recommend these tokens with unlimited potential:
- Bonk（￥BONK)
Market value: $1.501 billion
24-hour volume: $360 million
The meme coin that rebounded first indicates that Sol is the mainstream of the next wave. Those who have killed their contracts and stopped losses can now push the price up sharply!
Bonk was created to bring liquidity back into the Solana ecosystem and did so by providing a significant airdrop to Solana artists, collectors, and developers.
The BONK token gained hype through its airdrop distribution, which injected liquidity into the ecosystem and led to price increases. Bonk’s tokenomics includes a circulating supply of 93.8 trillion tokens, with developers burning 5 trillion tokens to stabilize the price.
- Toncoin (￥TON）
Market value: $18.593 billion
24-hour volume: $519 million
Backed by Telegram's 700 million users, it is most likely to become a web3 application! Huge potential.
A proxy for Telegram's upside is Solana and Avalanche, the best performing layer 1 blockchains in the 2021 bull cycle. In the second half of 2021, SOL rose 7x and AVAX rose 10x. Given TON's potential to reach a large Telegram user base, we believe TON can achieve 7-10x upside in the next 12-24 months.
