The market has actually adjusted healthily in the past couple of days; most coins have risen several times in the past month, so a 30% to 50% pullback is perfectly normal. The outlook for the upcoming market is as follows:
1. The first stage of the bull market has ended, and after the adjustment, we are about to enter the second stage.
2. Currently, external funds have not yet entered in large scale, and we are still in the phase of internal leverage. Much of the price increase of many coins is also driven by internal leverage, so it is necessary to clean up leverage in the short term.
3. The adjustment period will not be long, and the second stage will begin before Christmas.
4. The leading coins in the second stage are SOL or ETH, which is my conclusion after experiencing several chains. SOL is simple, has a low entry barrier, and a strong user base, while ETH has a need for catch-up growth.
5. The deleveraging (spike) in the second stage will be even fiercer than in the first stage, but the overall upward trend remains unchanged, so accumulating spot positions during dips is enough (like now). Frequent leveraging during a bull market will only accelerate your demise; don't treat the exchanges like fools.
6. I didn't choose to 'sell the top' in the first stage because I know it's just the beginning. Many times, once you leave the market, it's hard to come back, or you will return at a higher cost. I believe the price increase in the second stage will leave those who sold the top in the first round shocked and slapping their thighs. This trust comes from Wall Street/BlackRock/Trump/ETF, and that man.
7. Miners are the group closest to Bitcoin and have their own set of cognitive frameworks. The supply and demand relationship and prices of mining machines often reflect the current stage we are in. In previous bull market peaks, not only did the price of $BTC rise, but even mining machines increased several times. So if someone tells me to sell the top now, I can only say you're a fool who hasn't seen the world.
Ambush these 4 cryptocurrencies that are about to explode 100 times!
BONK
The Bonk memecoin has also experienced a similar price trend, with its portfolio value significantly shrinking over the past seven days. Notably, the 24-hour trading volume of this memecoin is $386.408 million, with a market cap of $2.91 billion.
Technical indicators SMA and MACD continue to record negative price trends within the daily time frame. This suggests a bearish outlook for the fourth-ranked memecoin in the cryptocurrency market.
If the market is bullish, the price of BONK will retest its upward resistance level of $0.00004704 this month.
FTM
Fantom is one of the best-performing projects recently. The blockchain recently broke through a key resistance level, causing prices to rise by 85%. The target price for Fantom is $1.68, and market confidence is strengthening. Fast transaction speeds and low costs make it an ideal choice for decentralized finance (DeFi) projects. Whale activity and outflows from exchanges indicate that investors are optimistic about Fantom's future.
BCH
It is a well-known Bitcoin derivative that has regained attention as its market cap restored to $600, reaching $12.9 billion. With its scalable trading model and focus on fast, low-cost payments, BCH remains a key player in the blockchain ecosystem.
Analysts speculate that its price could reach $1,000, requiring a 1.5 times increase, and its market cap will exceed $19 billion. The optimism around Bitcoin's potential six-figure increase may create a spillover effect, benefiting BCH as a faster and cheaper alternative.
APT
As one of the most noteworthy cryptocurrencies to watch in December 2024, it is gaining momentum, with its price rising from $9.6 at the end of November to a recent $15, bringing its market cap close to $8 billion.
Although still below the peak of $20 in 2021, the Aptos team plans to make significant advancements, including parallel transaction processing and on-chain randomness, providing scalable infrastructure for billions of transactions. These features can support different use cases, such as integrated payment systems for prediction markets and loyalty programs.
