Behind every big market trend, there is always a major key event. No one may pay attention to this event at the time, but looking back many years later, this event will always be mentioned repeatedly.
On May 22, 2010, a programmer named Laszlo Hanyecz exchanged 10,000 bitcoins for two pizzas. This event marked the first time that Bitcoin was used for real-world transactions and Bitcoin began to have value.
In October 2010, the first public mining machine Open CL was created, and the price of Bitcoin subsequently rose from $0.06 to $1 for the first time in February 2011.
On November 28, 2012, Bitcoin experienced its first halving in history. On that day, the price of Bitcoin was about $12 per coin. Six months later, the price rose to $130 per coin.
In April 2017, Japan officially announced the legalization of Bitcoin payments. Even after experiencing the 94 incident in the country, it still could not resist that round of vigorous bull market.
Why do I firmly believe that there will be a big round of market now? Because major key events have already happened, that is, the approval of Bitcoin and Ethereum ETFs, and then the Federal Reserve’s interest rate cut cycle and the halving of Bitcoin production.
And this trend has already been reflected in the trend of Bitcoin. What is more painful is that Ethereum's performance in this round of market is indeed too weak, so that the general rise in altcoins that everyone has been waiting for has not come, so everyone has been disappointed again and again, yes, me too.
However, we can also clearly know that the fundamentals of Ethereum have not changed. It is still the center of the blockchain universe, its ecosystem is still growing, and the overall development is very smooth, so we can still firmly bullish on it. After this round of Bitcoin reaching a new high, we believe that the market will give ETH the performance it deserves.
Regarding DOT, I think many old fans are particularly concerned about it. As a star public chain in the last round of market, the attention has indeed dropped a lot in this round of market, and the currency price performance is also very weak. This is consistent with DOT's usual nature. People who did not take advantage of the big bull market in 2017 will not take advantage of the market when it is sluggish. Gavin Wood, who has a technical background, is still working on technology steadily. The cross-chain leader will still have funds to speculate after the market picks up. Many people asked me if there will be a new high. I think it is not difficult. The last rebound has reached 10. If the overall market recovers, it is easy to return to 10. It is not difficult to extend the time from 10 to 50, but it is difficult to have an independent market in the short term, and the performance may not be as good as some new coins.
There is also FIL, the storage leader. Storage is the most important part of Web3, but this coin was previously ruined by various CX groups. Now its reputation has become very bad, and it will take a long time to repair. Many people ask whether this coin can return to a new high. I think it is difficult, because after all, the new high is too far away. If the market gets better, there will definitely be a rebound, but don't expect too much. As for whether it can set a new high, let's wait until it returns to 30.
Many people also asked me if they could sell their coins and invest in the stock market. I always discouraged them because the stock market is more complicated and more difficult to operate than the cryptocurrency market. It is much more difficult to make money than the cryptocurrency market. I made it very clear that if you have spare money, you can invest in the stock market. The long-term bull market is a high-probability event. Invest in high-quality leading stocks and hold them for a long time. However, if you need to clear your cryptocurrency positions to have money to invest in stocks, you will only lose money faster. In fact, the cryptocurrency market is much more cost-effective than the stock market.
In October, an interesting thing happened. Two coins are quietly getting stronger. One is AAVE and the other is DOGE. One of these two coins is the forerunner of the last round of market, and the other is the leader that pushed the last round of market to a climax. Their current strength is by no means accidental. There must be major funds behind it. Remember, I am not saying this to let everyone buy this. I am observing whether the market can make money through them. If they can explode, then it will be good for the entire market.
Although Bitcoin has not yet reached a new high, I believe it is likely to reach a new high this month. It has been 7 months since the last new high of Bitcoin. After 7 months of adjustment, both time and space have reached the conditions for a breakthrough. When Bitcoin breaks through a new high again, it is likely to bring about a medium- and long-term bull market, and low-priced coins will also usher in a large-scale rebound.
But the mentality, I want to emphasize is the mentality. In the process of holding, we often face various obstacles, and these obstacles are often not caused by external objective factors, but from various psychological states deep in our hearts. What really traps people in place and hinders our progress is often the fear, greed and laziness in our hearts. If we want to achieve self-change and breakthrough, the key is to see these psychological obstacles, deeply understand the reasons for their occurrence and their impact on us, and then bravely cross them.
Come on, November!
