Beige Brother talks about today's altcoin situation:
From a high-level perspective, the current trading pattern is very similar to the one that started in October last year. The historical K-line has very high reference value. The focus is not on searching for strong altcoins like carving a boat to seek a sword, but rather on reviewing how the altcoin market has performed during the same period as the strong ones.
In the altcoin spot market, previously strong altcoins need to be paid attention to again:
Originally, without strong stimulation from new things, the market was cycling through various altcoins. After Ai, it may be time to reinvigorate strong altcoins, such as HBAR, ADA, RSR, etc., as well as meme coins like Pepe, Pnut, Doge, etc., where the strong continue to thrive.
Trump-related coins like Ena Link Aave Ens are still strong. Coins related to the Sui chain and other sectors have basically remained stagnant. This round of altcoin market needs to wait until Ethereum breaks through 4000 before there might be a turning point; it is still not very calm and safe here. Try to only play spot trading; if you want to gamble, it’s better to engage in the primary market!
In short, remember to respect the market. When you lose your composure, it often precedes significant losses. We won’t predict where this trend will peak, it might be 11, it might be 12, but the space is already small. As for those trading small coins, setting stop-loss orders should be the top priority. Experiencing the sensation of hanging at the mountain top should never be felt in this lifetime~
