In just 2 days, Bitcoin reversed from 66,000 USD to a new high of 76,000 USD.
The most core background currently seems to be Trump securing victory on November 6 and returning to the White House.
The biggest lesson for people should be to act like Trump, who has everything and lacks nothing, still fighting against the odds; living a timid and mediocre life isn't worth it.
However, Trump's election impact on crypto is greatly exaggerated; whether it is Trump or Harris in power, Bitcoin's surge is inevitable.
It should be noted that both Bitcoin and Ethereum's ETFs were approved under Biden's administration.
Trump's promises to the crypto community before his election can only be considered short to medium-term positives, but in the long run, the underlying source of the inevitable surge in the crypto market led by Bitcoin is the arrival of a new round of global quantitative easing.
The relationship between Trump's victory and the crypto surge is akin to the rooster crowing and the sun rising; it plays more of a role in setting the atmosphere.
What most people want to know is probably when other altcoins, apart from Bitcoin, will be able to start surging.
From the mini bull market of 2023 to November 2024, only the slug has remained strong, while almost all altcoins, including ETH, look half-dead like abandoned wives.
Firstly, there will definitely be a season for altcoins; I already explained this in the previous article, so I won't repeat myself (How much will it rise? This wave, apart from Bitcoin, altcoins are conservatively expected to rise 5-10 times).
In the early stages of this bull market, why is only Bitcoin surging, while other altcoins remain still?
The core reason is that we are still in a period of liquidity shortage, and the money in the market is locked in strong and stable returns.
Bitcoin is being bought as a low-risk asset similar to government bonds by major institutions due to the approval of the ETF, and Wall Street has completely taken over Bitcoin.
In a global high-interest cycle where there are plenty of low-risk or even risk-free returns, high-risk assets like altcoins are not favored.
It is especially important to note that a lack of liquidity does not mean the market is truly short of money; it is just that liquidity has been drawn away by specific sectors.
This explains why Bitcoin is skyrocketing while altcoins are still stuck.
It should also be clarified that Bitcoin is not draining altcoins, but rather Bitcoin's increased certainty in this round enhances its attraction to large funds; those who keep saying 'Bitcoin is draining altcoins' are just deluded.
The capital market is a vast realm; even if one does not buy Bitcoin, one can still buy gold, stocks, bonds...
When will altcoins, apart from Bitcoin, surge after Trump's election?
Whether Trump is elected or not is not important; the key is the speed of the Federal Reserve's interest rate cuts. When the world enters a low-interest zone and cannot comfortably earn risk-free returns, the risk appetite for capital will increase. At that time, altcoins led by Ethereum will welcome a real spring.
Although a few days ago, I blatantly revealed the timing of my intervention in my friend circle, everyone seems indifferent; these past two days, a bunch of people have been asking after the surge...
Retention Record
For altcoins, it is still a relatively good window for building positions. With Bitcoin reaching new highs and interest rate cuts progressing, the massive waves for altcoins will inevitably come again.
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Old Xu's personal WeChat: xugewechat
Risk warning: Investing carries risks; entering the market may lead to bankruptcy.
Related reading:
How much will it rise? This wave, apart from Bitcoin, altcoins are conservatively expected to rise 5-10 times.
$ban$GOTA surging 1000 times? The pure era of Bitcoin has ended.
Did not hold onto over 500 Bitcoins at 250 USD.
Why can coins be traded? Stocks have dropped from 600,000 to just over 300 in 8 years.
