Currently, the trading volume of Ethereum (the second largest) and Ripple (the fifth largest) has surpassed that of Bitcoin, indicating a growing FOMO sentiment in the market. At the same time, there is a phenomenon of 'you are weak, I am strong'; when Bitcoin performs poorly, other cryptocurrencies perform strongly, which is a typical manifestation of the profit-making effect in a bull market. As long as Bitcoin remains stable, other cryptocurrencies can continue to party.
Now there is a big issue: if Bitcoin's price continues to surge in December and breaks through the 100,000 mark, the likelihood of it peaking in the short term will increase. From an external perspective, many new investors are starting to become interested in Bitcoin, as it seems everyone is talking about it. According to past patterns, this is usually when prices are relatively high, although it cannot be ruled out that new funds may come in later to push prices up again before peaking. However, another possibility is that the price may first pull back from now until January, and after Trump takes office, the bull market may restart, which could lead to even greater gains later on.
However, one thing is certain: buying Bitcoin at this position is no longer cost-effective. How long the altcoins can bounce back depends on the performance of the major cryptocurrencies. As long as the capital can hold, altcoins can continue to play. After all, their market capitalization is not high, and a little increase is normal. One more point to note is that the previously popular MEME coins have started to cool down recently in this bull market. Generally speaking, when the leading sector adjusts, other sectors will follow suit. Those that follow up with gains are often at the tail end of an upward trend. I think there may still be increases, but everyone needs to be cautious of risks. Don't forget that the crypto market doesn't just not drop; every time it drops, it can be a crash. Avoiding one major drop means you can earn a lot more. Don't take risks for that last little bit of money; steadily moving forward is the right path.
