Fundamentals: BTC is still in a high-level adjustment and has not deteriorated.
Altcoins have entered a downtrend; this week presents an opportunity to observe. ETH has already bottomed out, and it is difficult for it to drop significantly again.
Looking at most coins, the announcement of results will form an important low point. Short-term resistance for BTC is 70010 ~ 70420, and short-term support is 68170 ~ 67350.
The upward trend will be mixed with excitement, while the downward trend will be accompanied by panic. For light spot positions, continue to buy the dip; for appropriate positions, continue to hold, waiting for stabilization to increase positions. Contracts should maintain high cost-effectiveness when going long on dips; if this week can stop the decline, it will rebound upwards.
Regarding altcoins:
Essentially, there is still a lack of liquidity; funds have gone into ETFs and have not spilled over to altcoins, but there are also an increasing number of altcoins that continuously drain funds, leading to dumping after unlocking. Therefore, this round of altcoin season has mostly turned towards the MEME track, but it is all just a fleeting wind; the best strategy is to take profits and run, and it is advised not to be too ambitious.
CZ also mentioned that this year is a year of repair, and the bull market will still be next year, so one should remain firm in their beliefs and not be left behind.
BTC will inevitably reach $100,000 to $200,000 next year!
One very clear point: whether Trump or Harris is elected, it will not change the fundamentals for Bitcoin!
Bitcoin has a strong rebound history after elections, regardless of which political party wins. Cryptocurrency chart expert Ali pointed this out, emphasizing that even when Joe Biden won in 2020, the market still rose.
This trend supports the widely held view in the cryptocurrency space that while the election may influence BTC's short-term reaction, it rarely affects its long-term growth.
There is only one day left until the beautiful country's decision on the next Zong leader, with BTC's price slightly below $69,000, nearly surpassing the historical high price of $73,737 from about a week ago.
So far, by 2024, BTC has risen over 60%, outperforming traditional assets like gold and stocks at that time.
The election may give rise to the biggest dark horse!!!
DOGE
As a high-market-cap coin, it is considered the first meme coin. Recently, its trend has become linked to politics, which is related to Musk's support for Trump.
On August 20, Musk said on Twitter that he wants to create a 'Department of Political Efficiency,' abbreviated as D.O.G.E, an idea originally proposed by the DOGE community. Trump also responded that if elected, he would establish this department, conduct government financial audits, and reduce waste. Thus, the price of DOGE is closely tied to the results of the election.
Currently, the market cap of DOGE has reached $25.5 billion, with a 14-day increase of +48%. The main driving forces are Musk's posts and Trump's election campaigning.
