The market capitalization of altcoins has begun to shrink again, mainly due to the decline of the market in the past two days and the serious lack of liquidity. There is no coin that only rises and never falls, and there is no coin that only falls and never rises. What I want to say is that ups and downs are normal trends. We don’t have to be afraid when we are desperate, and we must also learn to retreat when others are greedy (this is a later story).
I remember clearly how desperate the Bitcoin community was when it was over $15,000 last year. Many people predicted that the price would drop to $10,000 or even $3,000, and most people lost confidence in the cryptocurrency community, but Bitcoin rose. On the contrary, when the price of Bitcoin exceeded $70,000, many people predicted that the price would rise to $100,000 or even $200,000. Seeing the madness of retail investors and the change in their emotions, risks are naturally approaching. Therefore, the saying "When others are panicking, I am greedy, and when others are greedy, I am panicking" applies to any moment.
Bitcoin has shown a clear downward trend recently, and panic over altcoins has begun to spread. I hope everyone doesn’t throw away their chips. Why does Mr. Dan think now is the best time to buy altcoins at a bargain price?
Since March, 90% of the altcoins in the market have fallen by more than 50%, and have returned to the starting point during the Chinese New Year.
The climax of Bitcoin ETF has passed. From the data, the funds entering the market have not flowed into altcoins, resulting in insufficient liquidity. Now it can be said that the value has returned without bubbles.
The biggest event in the market is the Ethereum ETF, the probability of approval is 100%, and now it is just a matter of time;
Under the general environment, the U.S. dollar has risen recently because Europe and Canada have begun to cut interest rates. It is only a matter of time before the Federal Reserve cuts interest rates. In addition, the market expects the Ethereum ETF to usher in a second wave of increases after the June delivery.
Market analysis:
BTC：
After the weekend consolidation, the market has been fluctuating around 665, which is in line with the weekend's expectation of 670. From a cyclical point of view, the fluctuation of quarterly delivery has been completed. The market will fluctuate in the range of 650-675. Today, there is a test of 657 support. If the test is successful, it will continue to rise.
ETH：
It is in line with the weekend rebound expectation. 3657 is a pressure. It is likely to fall back to 3550 and then continue to rebound today.
Potential altcoins worth paying attention to at present:
The Shanzhai market had a good rebound over the weekend, but it was not sustainable enough. The market still lacked liquidity. Even the MEME sector did not have a money-making effect. We can only wait patiently.
