Bitcoin is either breaking new highs or on the way to breaking new highs. Does the crypto market really have an altcoin season?
Just need to understand one simple thing. That is, has the money for buying altcoins come in? Bitcoin's surge is certain, so who is buying Bitcoin? What money is buying Bitcoin? Will this money go to buy altcoins, and who will drive up the altcoins? Is the money in place?
Currently, the spillover effect from US stocks has already appeared... money has overflowed from MSTR to the long-stagnant mining stocks. Another thing to consider is which targets the money coming in to buy altcoins, especially from American investors, will prioritize.
The entire altcoin market expects a bull market; without bottom positions, it will be difficult to survive in the upcoming fluctuations. Sometimes, it’s beyond expectations, like the previous WLD, where the washout from 10 to 1 completely exceeded expectations. If the entire altcoin market replays a significant upward breakout, and then plunges into a super big pit, most people will be buried.
Therefore, at this stage, it's important to leave a way out. While chasing profits, also leave a way out for yourself. Don't think the possibility of the market crashing is low, but if everyone crashes together, that probability will increase to another level, and this will also become the preceding phase of the entire bull market.
The 4 altcoins worth watching that could explode a hundredfold after Bitcoin's bloodbath!
PEPE
On the same day Robinhood announced the listing of PEPE, Coinbase also included the memecoin in its listing roadmap after a long wait. Last year, meme coins were criticized for their extreme volatility, but PEPE has become a popular investment choice for 2024.
From an upward trend and setting an all-time high in March to dominating cryptocurrency profits in May, PEPE has come a long way from being a struggling meme token in 2023. Now, traders occasionally include Pepe in their watchlists, especially when Bitcoin shows movement.
After Donald Trump won the election, PEPE began to rise, but statements from Robinhood and Coinbase sent the token skyrocketing to a new all-time high. The current trading price of PEPE is $0.00002104, with a weekly increase of 96%. Within hours of the announcement from Coinbase, the price surged by 50%.
BONK
BONK has surged over 60% in the past week and set an all-time high on November 17, 2024. Despite WIF recently being listed on Coinbase, BONK has replaced Dogwifhat as the leading meme token on Solana. Cryptocurrency analyst Dami-Defi predicts BONK will reach a target price of $0.00014.
He speculates that due to the potential rise in ETH prices, BONK could increase by more than 237.02% by the end of the year. However, as the RSI shows 86, BONK is nearing the overbought zone and may soon enter a consolidation phase.
SOL
Solana has been in a strong upward trend, with an increase of over 40% in the past month. The current price fluctuates between $211 and $252, close to the resistance level of $267. The 10-day moving average is above the 100-day moving average, indicating strong bullish momentum.
RSI is around 64, indicating there is still room for further increase before reaching overbought levels. If the price breaks through the resistance level of $267, it may target the next level of $308, which would be a significant increase from the current level. The bullish MACD and high stochastic indicators also support the upward trend. Therefore, Solana may continue to rise in the upcoming altcoin season.
TIA
Celestia (TIA) is currently trading at $5.1, with a neutral market sentiment, but the fear and greed index remains as high as 90, indicating some signs of market overheating. In the past 30 days, TIA has seen 17 trading days of increases, showing some market stability.
In the coming months, Celestia's price is expected to continue rising, with projections for November 2024 to fluctuate between $5 and $18.59. If it reaches the high end, investors could see a return rate of up to 249%. By December, TIA's price is expected to rise further, potentially reaching $22.71, which could yield over 300% returns compared to the current price.
