This wave of Bitcoin market is really crazy!
Since Trump won the election on November 6, Bitcoin has been soaring, breaking through the previous high of 73,777, and then breaking through 75,000 and 76,000 in one day. On November 7, it continued to break the record and broke through 77,000. On November 10, it hit a new high, breaking through 80,000 and 81,000 all the way, and today it directly reached 89,800.
It seems that breaking through the 90,000 mark today is almost a foregone conclusion!
To summarize briefly, in just three or four days after Trump took office, Bitcoin has continuously set new highs, and the price is close to 90,000. This is exactly the impact of Trump on the crypto market, and the current trend is exactly in line with our predictions a few weeks ago.
Looking back at our previous analysis, especially the pullback starting from October 29, I said almost every day that as long as Trump wins the election, Bitcoin will recover quickly and reach 80,000.
Now, the market reaction is stronger than I expected. It even broke through 80,000 on the weekend. Retail investors finally couldn't hold back. Usually, institutions rest on weekends, market momentum is weak, and price fluctuations are not big, but this time the explosive pull exceeded expectations. This wave of market completely exceeded my short-term judgment.
If Trump officially takes office and introduces a series of favorable policies and multiple bills are passed, the room for Bitcoin to rise remains to be seen. I originally thought that $85,000 was a good result, but I didn't expect it to reach this position so early. The sooner it reaches this price, the wider the space behind it will be, and the development potential will be unlimited.
As for ETH, many people are also asking, can it continue to rise?
I used to think that looking at ETH data was meaningless (I still think so now), but now I think the key to ETH is whether it can enter a new track. RWA and DePin are potential directions in the future, especially RWA may become a key factor in driving ETH's rise.
In general, if ETH can lead the rise, the alt season may follow. If ETH performs poorly, it will be difficult for the alt season to start.
Is there really hope for a big bull run in altcoins?
From the current market logic, the trend of the entire market still revolves around BTC and DOGE:
First, the rise of Bitcoin (BTC) is mainly due to the crazy purchases by central banks and institutions, which has accelerated the rise in prices. This rise process has formed a positive spiral - the more institutions buy, the more it can stimulate the participation of other institutions. Once the price rises, the government may introduce a policy of using Bitcoin as a reserve currency. This situation will make the rise of Bitcoin more intense and form a stronger buying force.
As for DOGE, Musk's support and the help of Trump's election directly made the market heat of DOGE explode. Not only mainstream funds are buying, but the crazy participation of retail investors has also exacerbated this upward trend. More importantly, DOGE may be connected to the X platform in the future, which lays the foundation for the long-term rise of DOGE. It is only a matter of time before it breaks through $1.
Judging from these factors, the bull market booster has been ignited, and Bitcoin's increase has been far ahead of other mainstream currencies. However, there are still a large number of altcoins in the market, especially some investors who bought at high prices, who are still losing money.
So, when will the altcoin explode? This has become the focus of everyone's attention.
Yesterday, AI projects such as WLD and Render rose strongly, and DeFi projects such as ENA, UNI, and AAVE also performed well, but overall funds have not yet flowed into the altcoin market on a large scale. The current rise is mainly concentrated in some strong mainstream currencies. Once Bitcoin continues to rise or enters a sideways consolidation period, altcoins may usher in a wave of outbreaks. By then, be sure to pay attention to stop-profit and seize the opportunity.
If the altcoins can maintain a sharp rise, it means that the bull market has officially started and a general rise will come. ETH will be the key. If ETH cannot continue to rise, the altcoin market will also be greatly restricted.
The opportunities of the bull market have become increasingly clear. In many cases, there is not much to discuss. Basically, just buy and hold. Yesterday, the listing of ACT and PNUT on Binance triggered a crazy reaction in the community. Many investors who did not make arrangements in advance began to worry. But in fact, there is no need to worry. There are many opportunities in the bull market. If you seize one or two big opportunities, you will reap rich rewards.
The seeds planted in the bear market will bear fruit in the bull market.
The bull market is a time for you to realize your wishes. The premise is that you have to be patient and prepare in the bear market, lay a good foundation, and wait for the opportunity to come. Just like planting a tree, the seeds sown in winter will eventually grow into a big tree after a period of nourishment. What you can do is to sow seeds and seize the right opportunity to sow those hopes.
I often say that success depends on luck, and failure is the result of strength. Improving cognition is important, but ultimately success still depends on luck. Don't think that all the credit falls from the sky. Failure is usually due to insufficient cognition. After all, even in a bull market, it is impossible to keep rising. Once the market rises, the pressure is great. Once the market loses momentum, profit-taking will be withdrawn, and then it will fall. Then once the market sees a fall, it will start to rebound, and new funds will enter the market and it will start to rise again.
Just like the needle at 6 and 9 o'clock, it rebounded immediately after quickly clearing long positions and hit a new high again. We should pay more attention to the changes in the open interest and rates of the contract, which can help us find opportunities for callbacks. Now, both the open interest of the entire network and the perpetual rate are at high levels, and the pressure is increasing. As long as the market turns around, we must be ready to run away or follow the trend. It is still far from the peak. According to historical laws, the peak should not appear until next year. Therefore, spot is still the most stable, let's make a grand slam together. What do you think?
The CPI data will be released tomorrow. There may not be much fluctuation in the short term, but it may have an impact on the subsequent market, so everyone can pay attention to it.
AI track: still an investment boom
Although memecoin is very popular, some other tracks are gradually attracting investors' attention. For example, the AI sector, although it performed very strongly at the beginning of the year, has not yet seen a significant increase. AI-related projects worth paying attention to include:
$TAO: This project has received support from well-known institutions such as Polychain and DCG, and was once regarded as the leader in the AI field. Although it has risen, it is still at a relatively low level and has a lot of room for growth.
$NEAR: In addition to AI, NEAR also has leading technology in chain abstraction and may become the next hot spot in the future.
$QUIL: This is a decentralized computer project with a small market cap, but it is worth paying attention to.
SOL ecosystem remains strong
In addition to meme coins and AI projects, some projects in the SOL (Solana) ecosystem still perform well. For example:
$JUP: A DEX aggregator on Solana. If you are optimistic about the SOL ecosystem, JUP is a good leverage option.
$JTO: This is a liquidity staking service provider, and the market still has hype expectations for the SOL chain's re-staking track.
$TNSR: NFT trading market on Solana. Although NFT has performed relatively coldly in this round of market, TNSR is still a project worth paying attention to.
