Bitcoin is ready to hit new highs!

As we all have seen from the trend of Bitcoin in the past two days, the market is trying to sprint towards the 70,000 mark. When it really breaks through, that will be the time for the market to really perform. In November, with the general election, interest rate cuts, and the liquidity that FTX is about to release, I believe the market will become even crazier.

The meme market will continue, but sectors will also rotate. Currently, the performance opportunities on CEX will be better, and the copycats are all at the bottom, so everyone should actively adjust their strategies.

The copycat market has been very lively in the past two days, with APE as the leader of the copycat market, which has risen by more than 100 percentage points. DYDX, AP13, MAGIC, etc. have also performed well. Overall, games, NFTs, etc. have risen a lot, and there is a rotation effect in the sector. At present, the copycat markets are actually in the bottom range, and as long as there is a little bit of demand funds, they should be able to easily rise by dozens of points.

Bitcoin is just one step away from the 70,000 mark, and a major trend is expected to arrive this week, so just hold your positions patiently and don’t switch positions at will!

BN will hold an event in Dubai at the end of the month, and CZ will also attend. BN's IEO series can be paid special attention to in the near future. Judging from yesterday's rebound, the trend is pretty good!

The bulls have regained the initiative, and a pullback is an opportunity to make a layout. For example, Bitcoin fell back to around 68,000 to enter the altcoin initial position, and Ethereum is at 2680.

In the past, the accumulation of funds for altcoins only lasted for a month, but this time, it lasted for 2 to 3 months.

This is not just the accumulation of time, but also the brewing of market sentiment. An unprecedented storm is brewing! Before this storm came, the market experienced an extreme washout. Looking back on the ups and downs of this year, investors are all terrified, as if they were in a cruel battlefield, and if they are not careful, they may be crushed to pieces. Especially the crash on August 5, the large trading volume and lack of liquidity make people wonder:

Who quietly took away those chips?

It is this market environment that makes me always believe that the market of altcoins will definitely come! I have warned everyone countless times to persist and get through this difficult time. Because only those who really persist can stand out from this cruel battle and become the final winner! Nowadays, most altcoins are looking forward to the new high of Bitcoin, and in this feast, those public chains that are ready to make memes have taken the lead in starting, and the three stupid inscriptions - ordi, sats, and rats, are even more restless, as if they are about to explode at any time!

At the same time, the game sector's currencies also ushered in an overall upward surge. In the early stage, familiar currencies such as AXS and YGG took the lead, and the increase was amazing! This is not only the rise of the game sector, but also the carnival of the entire altcoin market! Although the Meme market continues, the sector rotation is inevitable. The next step is the sector rotation, and you need to ambush in advance.

Current secondary market

Bitcoin has not yet reached 70,000, and Ethereum has also reached 2,700 US dollars, and has not continued to fall. Of course, the most noteworthy thing is that there are signs of a round of price increases in the altcoins. I thought the game concept had a wave of price increases, but I didn’t expect that the winner was APE, which built a public chain and announced that it would join the meme pump. The price rose from 0.7 to 1.7. In fact, public chains and memes are not new things. The core of why the price can soar is the high degree of control + the main force pulling the market. Since APE has successfully attracted market attention, it is estimated that other projects will follow suit.

Ethereum performed well this time, especially when it fell below 2,500. I did not give up on this target, but as far as I know, many people sold it. I have said before that when a target is despised by everyone, it is likely to be the lowest price point, because it is likely to be the means of the main force, and the selling pressure caused by bad news is basically the last wave.

On the contrary, when a target is widely favored by the market, it is likely that the main force is bullish, and all kinds of publicity about the benefits and the future are aimed at getting you to take over.

In any case, objectively speaking, this wave of copycat hot spots is likely to be driven by the gameplay of APE. After all, everyone has public chain technology, and if it can be hyped, it will naturally attract traffic. However, in essence, this gameplay is currently speculative, and it is questionable how long it can last.

There are rumors in the market that some other projects are also going to pump. dYdX increased by 30 points in one day because of this news. As for the new pictures and new memes on the chain, it is even more of a wave. I would like to say hello to everyone in advance. Don’t be blinded by fomo.

It is not easy to persist until now. The market has been volatile for half a year. The difficult days are over, and good days will be here soon!

Several major trends continue to be bullish:

1- Institutions have been buying BTC and will continue to buy until the market value exceeds that of gold.

2-meme coins will become the most powerful track after the main uptrend of BTC. Regardless of whether the popular memes on the chain are listed on the big exchanges or not, at least 5 memes with a current value of only a few hundred million US dollars will impact 10 billion US dollars, and even only need to be on the chain. That is 10-20 times the space - because funds are surging in the bull market.

3- Leader + heavy holdings, maximum profit.

4- AI+Meme. Goat’s success has brought a new narrative to Meme stories that is different from the previous reliance on real animal IPs, generating content and interaction through AI.

Because AI is the main line of technological innovation that can be foreseen in the next 20 years, AI-related memes will be one of the hottest sectors in the cryptocurrency circle in the long term, so everyone must keep paying attention!

Recently, some old copycat projects have started to surge, such as ape, which is a typical example of a project following the trend. Apechain has been officially launched, and the meme concepts on the chain have also soared across the board. Sun Ge played with the pump thing some time ago, and SUI has just been shut down. It is really hard to say whether ape can take off. Objectively speaking, it is recommended to have several heads on the chain. Be cautious when participating in chains that are listed because of hot spots.

There will be many big golden dogs when the bull market comes, and the survivor bias perspective often gives us cases of people getting rich overnight, but in real life, most of us have become food for local dogs. It is not difficult to make money within the circle, but it is definitely difficult to make money by following the trend.

There are only 15 days left until the US election. Trump's poll numbers are gradually widening the gap with Harris. Barring any unexpected events, Trump's return to power should be a sure thing. In any case, Trump's friendliness towards the crypto community is well known, and it is expected that the last ten days of this month will also be positive.

Binance data shows that DeFi tokens generally rose, including:

DYDX is quoted at $1.29, up more than 30% in the past 24 hours.

SUSHI is quoted at US$0.83, up more than 18% in the past 24 hours.

PERP is quoted at $0.73, up more than 15% in the past 24 hours.

RAY is quoted at US$2.5, up more than 15% in the past 24 hours.

FLM is quoted at US$0.062, up more than 12% in the past 24 hours.

SNX is priced at $1.63, up more than 12% in the past 24 hours.

JUP is quoted at US$1.03, up more than 12% in the past 24 hours.

It is worth noting that the relevant token teams have previously tweeted to hint at good news:

On October 20, Charles d'Haussy, CEO of the dYdX Foundation, posted on social media that "at tomorrow's dYdX Day event, speakers will reveal the secrets of moats, Trojan horses, and flywheels."

On October 21, SushiSwap posted a message on X in the early hours of this morning titled "Tomorrow", which may imply that there will be important news to be announced.

How did the public chain's strategy of pulling up the market to lock in liquidity, represented by PumpFun, form a conspiracy of volume and liquidity? How should retail investors and project owners understand and judge this?

Yesterday, the APE FOMO effect triggered a wave of public chain pumpfun, which made me think. I used my own words to understand the current situation of the pumpfun of various chains. Here are my three personal understandings of this phenomenon:

The currency must be in an upward trend

Let me first say what I think is the most important point. In fact, before $APE, many public chains or Layer2 have tried similar products with pumpfun characteristics, but except for $SUI, most of them were short-lived.

As for the reason? In my opinion, many people’s understanding is the inversion of cause and effect. It is not because pumpfun products are very popular and liquidity is locked before the market is pulled up, but because the coin is pulled up first, and the price rise encounters a bottleneck and cannot be pulled up, so the on-chain ecological effect is needed to help push up prices and lock liquidity.

Therefore: For retail investors, it is necessary to determine whether there is a market on the chain.

First, observe whether the main currency of the chain is in an upward trend and whether there are opportunities for altcoins in CEX. Based on this funding trend, the overflow of the chain can be driven to create a wealth effect, rather than all public chains being able to pull up the market by launching a pumpfun.

For public chain projects

If you want to use pumpfun products to achieve a win-win situation of liquidity and popularity, you may need to first have the hardware conditions driven by funds before it will be easier to push forward. It is difficult for only pumpfun products to pump up your coin price. Funding hardware is the core.

In addition, for Layer2 like Linea that uses ETH as the native token on the chain, or new public chains that have not yet issued coins, if the official does not intervene, it is not so meaningful for the project party to do pumpfun and retail speculators to play pumpfun on their chain, because there is no big money to drive the prosperity of the chain ecosystem. Of course, there may be expectations in reality - the order number of the Mao studio 5U can buy a bright world, and the millions of Mao army are 5M USD buying orders. Although it is a bit of a joke, the meme coin ecology on ZKsync and Starknet is almost like this in my understanding, and with the issuance of coins, the meme on the chain has never risen again after the outflow of cat-stroking funds. To some extent, there are some opportunities to eat small meat, but the magnitude of the opportunity may not be that big.

Strong market capabilities and understanding of hot spots

On the basis of the above capital drive, if the ecology on the chain wants to become popular, it still depends on market capabilities. This is not only limited to the public chain ecological project's ability to understand memes, but also tests the ability of the public chain itself to connect with large households and KOLs for distribution. Most public chain project parties can actually understand the needs of KOLs and large households, but many times due to different language systems, lack of communication bridges, and not knowing what is happening in the market, the response is delayed. Many times it may be because there is no degen in the team at all. Everyone wants to play a favorable game and be a free rider on the big brother's car like Musk. Therefore, whether it is retail investors or project parties, the most front-line demand is to catch hot spots. For outdated or not hot content, even if someone is willing to shout orders, it is difficult to see results.

The specific breakdown is the right time, right place and right people -
- 

Right time: The project team needs to do things when the market is good and choose the right time to take advantage of the hot trend. Right location: The public chain’s native currency chip structure is good and can seize the opportunity of rising prices.

Harmony: The team has strong BD capabilities, can maintain good relationships with the community and KOLs, and is willing to let external partners profit to complete a conspiracy.

A positive example is this APE

Timing: Combined with ApeFest, we communicated with the community and big investors (I am not a holder, I just heard about it), and launched it when everyone was a little tired after playing with the AI ​​hotspot of Sol for a few days;

Geographically: APE has been washing for a long time and is close to full circulation, with a low market value, small resistance to rising, and arbitrage air force as fuel;

Renheshang: There are many rich people in the Yuga community. It is well known that the holders who can still stay now are all rich and willful diamond hands. There are also various big KOLs who still have nostalgia for Monkey and are willing to rush in.

I won’t mention the negative examples, for example, the Pandora project was almost dead before they thought of issuing the 404 coin for entrepreneurship, and Launchpad was dead before they thought of building a launch pad... These were evaluated by group members as: eating up exhaust gas.

It is best to have a head effect

In the case of a head effect, hot money will gather more. I won’t directly prove this point, but I will give a few examples without a head. In the recent case, AAA on SUI plummeted, and other chain memes fell into a slump. In the distant past, all players withdrew after the FT head key was closed on this day last year. The chain ecosystem without a head effect is like a pile of loose sand, which will be scattered by the wind.

I think APE didn’t do well in this regard. The original momentum of Curtis Longyi’s 30M was not stable. At the same time, many big Vs of BAYC did not actually hold Longyi’s positions, so they successively launched their own coins and did not focus on the leader. In this case, I guess that Longyi’s creation may also be an accident created by retail investors. From the market value of retail fomo coins, 30M is a hurdle. It may be that the Foundation itself was not prepared or did not have this awareness.

Solana has done a great job in capital clustering and head effect. There is always a hot coin leading the narrative in every period of time. The more powerful the hot spot is, the more hot money gathers on the chain, the more prosperous the ecosystem is, and the louder the voice is.

Is dydx going to make the second ape? I saw others saying that dydx will also rush to meme after launching the prediction market. I remember the last time the v2 chain was hyped was more than a year ago. I saw others say:

The founder of dydx returned to serve as CEO on October 10 and is planning to launch the dydxchain pump platform. He has been quite active recently, having just launched a prediction market, and dYdX Unlimited will soon launch MegaVault (a permissionless market, reward program, and alliance program). The highlight is the dydx pump platform.