November 10, 2024

Bitcoin has refreshed its historical high of 79,000 USD, just a step away from the 80,000 mark. It is currently consolidating and building momentum, and there is no doubt that we are experiencing a bull market rally. Markets always rise amidst skepticism, and after Bitcoin broke through the pressure of 75,000 points, it has slowly begun to climb. From the current extent of the rise, it has fully broken through. The reason why an effective breakthrough of this resistance level is important is that 75,000 is not only the peak of this year's minor bull market but also a level that has seen multiple failed breakthroughs. Crossing this point indicates that Bitcoin is about to enter a market above 75,000.

Another corroborative signal for this judgment is the overall rise of the market, especially Ethereum, which has been heavily criticized in the early stages. Today, it has successfully reclaimed an exchange rate of 0.04 and even touched 3,200 USD. In recent days, it has almost risen by 100 USD daily. As you would say, this is a bulldozer-like market, not giving opportunities for low-level pullbacks to get in. Additionally, there is a wild surge in altcoins, including the SUI token, which, despite high market cap and a massive unlocking, has risen from 2.2 to 3 USD. Although the main forces are heavily controlling the market, during a bull market, they dare to pull it up casually.

There will definitely be altcoins that do not rise, as this is a common issue in every bull market, because there are simply too many altcoins and the main forces have limited funds. After the bull market rises and completes the distribution of chips, once retail investors stubbornly hold onto their chips, the main forces lose the desire to push up. Therefore, we can see that those altcoins with a strong rise are often new coins with high control. As for the established altcoins, they will generally lag behind when funds rotate, but in a big bull market, there will still be some distribution.

The current market is viewed as a bull market. Shifting thinking from the previous bear market is a test, but it is generally advised to hold your positions well, as the market has not completely entered a FOMO stage. Of course, a healthy bull market will also experience pullbacks. If you want to increase your position, you might as well wait for a pullback. Additionally, bull markets will always have FOMO; investment is inherently like this. You should buy in a bear market and sell in a bull market, keeping an eye on your cost price, taking profits in batches. When the market shows signs of madness, I will prompt you to bravely sell some off, and having your own profit-taking plan is even better.

Thank you for your attention and likes; let’s wait together for the madness of the bull market.