Oh my god, Bitcoin is about to be mined, and there is only 5% left! This is a fascinating scarcity, and Bitcoin will reach 1 million US dollars per coin!
The cryptocurrency market is plummeting, how far will it fall? Which coin can achieve a 5-fold increase now?
Is a new turning point coming? There are 4 major positives coming to the cryptocurrency market, which will be launched as early as next week! So what are you waiting for? Let's follow Shuqin to take a look.
First of all, there is the epic good news for Ethereum, as the update of its pledge ETF has finally come to fruition. In a recent interview, Peirce, a member of the US Securities and Exchange Commission, said that she is positive about the Ethereum pledge ETF, and she believes that the new chairman will help it pass.
She also emphasized that the interests of investors should be the main priority. Obviously, users are looking forward to staking, which will increase the yield of the ETF. So the staking function of the Ethereum ETF is really coming, which will definitely increase its attractiveness and significantly increase buying.
This pledge application will most likely happen in January, because the SEC will change its personnel on the 20th. By then, giants such as BlackRock should submit S1 applications for Ethereum pledge ETFs. We must ambush in advance.
Speaking of Wall Street, they have made a stunning reversal. Although the cryptocurrency market has been weak recently, Ethereum has bucked the trend and received bargain hunting funds. Before the Christmas holiday, it received a net buying of 131 million US dollars, which is much higher than the average. And if you take into account the inactive trading during the holiday, this buying is actually much higher than I expected.
Therefore, it will be a new trend for Ethereum to become stronger than Bitcoin, because historical data tells us that Bitcoin's strongest period is from October to November. Shu Qin told everyone this before the market started in September, and its current performance in December is also in line with historical rules, with a pullback of 2.3%, close to the median of previous years.
Looking at next year, the average return rate of Bitcoin from January to May will be about 5-10%, which will cause it to slowly rise to around 130,000. I think this is a reasonable expectation and is in line with consensus and rules.
Ethereum, on the other hand, is much stronger. It pulled back by 6% in December, which is consistent with its performance in December of previous years. But if you look at its growth from January to May of previous years, it has increased by 20-30% every month, doubling in an average of three months.
Of course, this is not really a historical rule. It is mainly because most of Ethereum’s annual upgrades are carried out during this period, so this rule is formed, such as this year’s Cancun upgrade or last year’s Shanghai upgrade.
Even in the super bear market of 2022, Ethereum still nearly doubled from 2000 in January, which is really amazing. Therefore, Ethereum and its major ecological coins will definitely be the focus in the next few months, and their pullback now is the best time for you to make a layout. In the short term, the support of ETH is at 3250 and 3350, so you can enter the market at a low point.
If the increase of ETH from 3300 to 8000 is 2.5 times, then the more volatile small coins in the ETH ecosystem are expected to achieve higher returns, reaching an increase of about 4 to 5 times.
The Ethereum eco-coins I am more optimistic about are Uni, AAVE, ENS, Puffer and Pepe, which include Dex, Defi, domain names, re-staking and meme coins, which is quite comprehensive. Except for Puffer, most of the tokens of other projects have been unlocked and there is no subsequent selling pressure.
As for Puffer, Shuqin mainly considered his VC background, which includes giants such as Binance Labs, Franklin, Animoca, Coinbase and Jump, as well as sponsorship from the Ethereum Foundation. This is simply the ceiling, but its market value is only 600 million. I think it is a value trough.
However, these are secondary factors. The main factor is that this coin has not yet been listed on Binance, but Binance Labs has participated in the investment. I think the probability of it being listed in the future is still quite high. After all, it has a good background, and the Ethereum ecosystem is about to become a market hotspot, so Shuqin is willing to allocate a little bit to take a chance. Even if it doesn't go public, it should be able to outperform the market as an Ethereum ecosystem.
In addition to long-term, I think there are many coins that can be operated in the short term. For example, AAVE, we clearly escaped the top at 380 and 390, so I think the current pullback is a very good time to re-enter the market, almost above the 330 and 300 support levels.
As for Bitcoin, Shuqin asked everyone to enter the market at 92,800 on Monday night, and then we asked everyone to escape the top when it was close to 100,000 yesterday. The idea is very clear. The current support of BTC is around 93,000 and 95,000, and you can re-enter the market. We update the operation of each coin in real time every day, don't forget to check it out if you are interested.
Now, let’s get back to the topic. Let’s take a look at some important data.
Did you know that the last 1.1 million bitcoins will be mined, and their rarity will only get rarer in the next few decades. After all, Wall Street only buys and does not sell. The ETF bought $110 billion worth of bitcoins in less than a year after its launch.
110 billion! What does this mean? And then there are giants like MicroStrategy who are also buying, and now they hold nearly 50 billion coins. These institutions only buy and don’t sell. I tell you, if Wall Street buys for a few more years, there will really be few coins left in the market. There may be tens of millions of people scrambling for these tens of thousands of coins.
After all, there are only 21 million coins in total, and nearly half of them were abandoned in the early days. Now there are only 2 million coins available for purchase in all exchanges on the entire network, and more than half of them will not be sold. Currently, these coins are still being withdrawn by whales, so Bitcoin will only become more and more scarce. Now there are very few people who can afford to buy one coin. If you buy a coin for your retirement, maybe you can retire more than ten years earlier.
In the short term, there is a very important news now, that is, FTX's 16 billion repayment will begin on January 3, and it will be repaid within 60 days. Many people have forgotten this important news.
I think this will be a signal that will lead to a comprehensive rebound in the cryptocurrency market, because the injection of 16 billion US dollars into the market is good news from any perspective.
The cryptocurrency giant MicroStrategy has now been selected into the Nasdaq 100 ETF, and it is only a matter of time before it is selected into the S&P 500, which makes people all over the world passively hold its stocks. MicroStrategy will raise funds again with the money it gets and buy more Bitcoin.
Coupled with the upcoming Trump inauguration, Ethereum staking ETF and Ethereum's Prague upgrade, Shuqin believes that all the current pullbacks are temporary and are opportunities for you to get on board, because the cryptocurrency world next year will be really exciting! Our destiny will also be rewritten, making the dreams we once had become reality, and making those who once ignored you know you again. So, investors, are you ready?
