"Trump Trade" flashes $200 billion explosion
The price of Bitcoin has dropped from nearly $100,000 on Monday to around $92,000. The pullback has caused the total market capitalization of cryptocurrencies, which is $3.2 trillion, to evaporate about $200 billion.
Overnight liquidation reminder, the long contracts are particularly suffering. Liquidating leveraged long positions is beneficial for a rebound after a correction. This correction is expected to be limited, lasting as short as a week and as long as about half a month, likely reversing in a V shape.
The cryptocurrency space updates and iterates quickly, and not all altcoins can explode; on the contrary, the vast majority of altcoins do not have a spring. Therefore, for certain projects, I often make risk warnings in the community. For coins with fundamental issues, take profits while you can, and don’t get too caught up.
What should we do now?
Buy the dip on value coins, waiting for the Fed and others to enter the market. Of course, if the dip on value coins can lower your average price, be bold!
Position four altcoins with a 100x growth potential!
Ripple (XRP)
Ripple's native token XRP recently experienced a significant surge after cryptocurrency supporter Donald Trump won. Additionally, the imminent resignation of the SEC chairman and speculation surrounding the XRP ETF may further drive the index growth of XRP in the coming days.
These developments make XRP an attractive buying opportunity.
Currently, the price of this altcoin is 40% lower than its all-time high (ATH) and is likely to rise 40% soon to reach a level of $2. If bullish sentiment remains, the upward momentum may intensify. Notably, the open interest (OI) of XRP has reached an all-time high, indicating high trader participation in the token.
Cardano (ADA)
Cardano's native token ADA has surged up to 250% in recent days. Following this significant upward momentum, the price has reached a strong resistance level of $1 and is currently facing resistance.
This price drop is due to the geopolitical tensions caused by the escalation of the Ukraine and Russia conflict. Based on historical price trends, if ADA breaks through this resistance level, it could see a significant increase in the coming days. The current market conditions and price trends indicate that this might be an ideal time to build positions.
Dogecoin (DOGE)
Dogecoin (DOGE) is the largest and most popular meme coin in the world, and its price skyrocketed by an astonishing 340% after Donald Trump won the U.S. presidential election. During this surge, Dogecoin broke through the strong resistance level of $0.35 but is currently consolidating within a narrow range between $0.35 and $0.44.
This ongoing consolidation provides a potential buying opportunity, as a breakout from this area could push DOGE up 65%, reaching a historical high (ATH) of $0.732 in the coming days.
Dog Hat (WIF)
Dogwifhat (WIF) is a top meme token based on Solana, which recently broke through a bullish head and shoulders price pattern and recorded a nearly 70% surge. However, after this significant increase, the WIF price experienced a 37% pullback.
