November 23, 2024

Currently, the overall market trend is still very good, and Dogecoin has risen by several points due to positive news, as Elon Musk's Boring Company announced it will accept Dogecoin as payment. This is a typical instance of a positive price surge, but since it's a bull market, the market is still on board. Musk has used this method before, which is Tesla supporting Bitcoin payments. One can only say that bull markets are this outrageous and crazy.

As for those asking how to operate with Dogecoin, including other coins that have surged in the bull market, this actually involves a question: how to take profits in a bull market? First, clarify one point: no coin will keep rising indefinitely, including Bitcoin. As long as one is making a profit, there is no bad time to sell, but since the peak price in a bull market is harder to predict than the bottom, I can only suggest taking profits in batches at different price levels, while also using market capitalization and market sentiment for judgment.

In terms of market trends, we are currently seeing the rotation we most expect, which is from Bitcoin to hot sectors (Musk concepts, local coins), then to mainstream sectors, and finally to altcoins. At this stage, the market is moving in the mainstream sector, with recently strong XRP and XLM, which belong to the traditional mainstream, including the DeFi blue chips I have been emphasizing. The recent upward momentum has been very good, like ARB and OP, which have seen significant price increases.

This round of the bull market was confirmed when Bitcoin broke through 75,000. The most important thing in a bull market is to hold firmly. Of course, if you do some swing trading in between, it may yield higher or lower overall profits, but it is not a big issue. As of today, our allocation has already increased significantly, and I believe this is just the beginning of the rotation. So if there are some coins that haven't risen yet, there's no need to worry too much; a complete bull market will take care of most people. When the bull market enters the second half, I will emphasize profit-taking again; at this stage, it is about holding coins and trying to make some pullback trades.

Thank you for your attention and likes, and I hope the bull market does not let us down.