Bitcoin has been in a significant fluctuation for half a year. Every time it dips, it meets strong support, but it has consistently failed to break through upwards. However, at least Bitcoin is oscillating within a range, while many altcoins are directly like a dead dog.

The new coins released this year, such as ena and ethfi, which have a solid foundation, are continuously breaking new lows. A number of old coins that have experienced several bull markets have also dropped back to the starting point of this bull market. Even the so-called mother of altcoins, Auntie, has fallen back to the prices seen at the beginning of the year, raising doubts about whether altcoins still have a chance.

Let's conclude: altcoins still have a chance. This is not from a technical analysis perspective; the current altcoins cannot be viewed through a technical analysis lens to determine if they will rise, but rather from a trend perspective and a human nature perspective.

As the saying goes, to make them perish, first make them crazy. However, altcoins have not been crazy since the last bear market, whether new or old coins. The market makers are out to make money. Even those meme coins that have been discussed the most recently only pulled up for a few minutes before crashing to zero. But at least they did rise for a while, after all, someone has to take the high position. However, are there altcoins that have broken through any highs? Of course, this is referring to the current overall trend of altcoins, but when we look at each coin specifically, not all have the opportunity to rise again, especially some coins that were obviously created just to ride the hype. Once the hype passes and the project teams have made enough profit to exit, they are also removed from CEX, and their liquidity diminishes significantly. The chances of these coins bouncing back are very slim. However, because of these reasons, when these coins have dropped as low as they can go, some might experience a 'dead cat bounce'. However, this is ultimately a minority. You can treat these as the endless stream of junk coins currently on the blockchain, but the chances of successfully flipping them are still slightly higher than your current attempts.

If there are empty positions, how to enter the market next?

If there is to be a bull market in the crypto space, it must be led by the Nasdaq's wild bull. Bitcoin may surge to 100,000 due to a thinner order book and a more FOMO-driven entry sentiment.

Whether subjectively bottom-fishing or doing wave trading, I have become accustomed to missing out. A surge to 100,000 is just a 40% increase from the current price, while a surge from 15,000 to 75,000 is +400%. Even if I miss out, so what?

Making 9 points in one go, doing it 4 times yields over 40% returns. Right now, I prefer this. The U.S. election transition is the most likely place for a hiccup. If the Nasdaq is fortunate enough to pull back 20-40%, that will be an excellent entry moment for the crypto space.

The fear index still shows 'greed', but obviously since yesterday, panic has spread widely. This morning, everyone is panicking as they fear the market will crash again like it did on August 5, and they fear altcoins will once again collapse. I’ll share my thoughts and give my fellow traders some encouragement.

From the market structure, as mentioned in previous articles, the massive sell-off of Bitcoin on August 5 marked the end of a phase. Then Bitcoin entered a triangular consolidation, and just a couple of days ago it broke through 70,000 with significant volume. Currently, Bitcoin has entered a new phase: accelerated rise. The half-year consolidation was all for this phase of the market.

Before August 5, altcoins were primarily focused on consolidation, constantly being slaughtered. After August 5, altcoins entered a consolidation and accumulation phase. There are many market makers buying in, and currently, it’s a blood-sucking market for Bitcoin, with BTC's market share constantly climbing. After this blood-sucking period, Ethereum and altcoins will soar. This is the overall rhythm of the market, the main line.

The election is imminent! After the correction, four types of altcoins are skyrocketing by 20-50 times!

DOGE

This is the ancestor of meme coins; reaching 1 dollar is just a matter of time. It is the only POW meme coin, and the founder has long thrown away their chips, achieving true decentralization. Elon Musk tweeted on August 20 that he wants to create a 'Department of Political Efficiency', abbreviated as D.O.G.E, and this name was suggested to Musk by the DOGE community. Trump also responded that if elected, he would establish this department to conduct a comprehensive financial audit of the government and reduce waste. Therefore, DOGE's price is also linked to the presidential election.

SOL

Since the second half of last year, it has been skyrocketing, increasing more than 20 times, showing strong momentum. It competes fiercely with Ethereum and has the support of American capital; breaking new highs is just a matter of time. I even think that in this bull market it can reach 500, and in the next bull market, it might break 1000. We can view it as the Ethereum of 2019.

PEOPLE

This is not a coin centered around presidential candidates. It is a token issued by ConstitutionDAO. ConstitutionDAO is a decentralized organization founded in 2021 with the goal of raising funds to bid on a rare copy of the U.S. Constitution at a Sotheby's auction. At that time, they raised as much as 6,000 ETH, equivalent to around 40 million dollars!