Bitcoin plummets by 10,000 points, this bull market in the crypto world is truly bizarre!
Hey everyone, BTC has pulled back by 10,000 points in the last three days, the altcoins are facing a tough time, but don’t panic, this is just a matter of a few words from Powell, the overall trend of rising in the medium term hasn’t changed.
In a bull market, sharp declines are common and not surprising. Pullbacks have nothing to do with the long term; they are just a way to clean up high leverage, allowing those who trade contracts and use high leverage to take a break. Once it’s cleaned up, the music continues, the dance doesn’t stop, and the bull market can move more steadily and reach new highs.
In this wave of the bull market, Bitcoin is leading the way, while altcoins are still stumbling halfway up the mountain. This bull market is indeed quite peculiar, as Bitcoin keeps hitting new highs, but the altcoins are constantly getting halved, even the second-tier coins haven't reached new highs.
This bull market is destined to be a feast for the veteran investors; newcomers and those who haven’t experienced a complete cycle in the crypto world can only watch from the sidelines. The web3 community is as quiet as can be, reminiscent of the earlier bull markets where various communities were bustling with red envelopes flying everywhere.
Now BTC is being tightly controlled, and retail investors feel the price is high, so they are all focused on Ethereum and other altcoins. The whole market is just watching Bitcoin perform alone, continuously sucking blood and reaching new highs. Once Bitcoin pulls back, the altcoins are collectively at a loss.
Also, Binance has been crazily launching new coins recently, with the last round introducing six new projects; the market liquidity was already insufficient, and this only adds insult to injury.
We need to think about it: after the pullback, if Bitcoin continues to surge, during the consolidation phase, capital flows out, which asset will catch it first? I guess this cycle should be similar to the previous three; once BTC rises to stabilize at 110,000 or 120,000, the funds will start flowing into ETH.
BlackRock is currently mainly promoting BTC and ETH. They say that for clients, BTC is definitely the first choice, followed by ETH, while other altcoins are secondary. They are mainly promoting BTC and ETH-related ETFs, rather than ETFs for other altcoins.
For the upcoming strategic direction, I will guide everyone to aim for the lucrative opportunities in altcoins, especially those with great potential, where an expected return of over 10 times is not a problem. If you want to make big money in this bull market, like and comment, and I'll take you through the entire bull market!
