Bitcoin adjustment is over, ETH continues to exert its strength! I said before that the Bitcoin correction has come to an end, and it will continue to hit 10w this week. This rebound is still quite powerful, stretching from the low point of 90800 all the way to above 9w7. It seems to me that this is a reasonable operation. The current line is very stable and will continue to rise this week.
The 27th was a day to clear shorts. There must be people who were impatient to be short sellers when they saw the price of Bitcoin fall back a little. As a result, after it touched the support of 90K, it immediately hit the carbine. The short sellers had no time to react and watched it rise to 97 and then get blown up. I have said before that when the price fell back, it was mainly low and long. No matter whether you are the second or the first, don't think that 100,000 is the top. I have always insisted that there is no top in the bull market and short selling is less.
What surprised me the most was not the Bitcoin rally, but the fact that Ethereum could keep up even in this market. Ethereum reached a high of $3,684, which means that Ethereum is very strong and the week-long rally is still going on. I hope that Ethereum can maintain this trend.
Currently, the options market has also begun to be bullish on ETH and believes that its subsequent explosive power will exceed that of Bitcoin. Considering the subsequent loose policies, Ethereum's collateralized ETF is about to come.
Recently, staking and re-staking projects such as Ethfi Eigen Rez Ldo have skyrocketed. This is equivalent to adding another wave of gravity to off-market funds. I am quite optimistic about the subsequent trend of Ethereum. At the same time, the bullishness of Ethereum will also promote the arrival of copycat bulls. We can look forward to it together.
Let’s talk about a few situations that clearly show a bull market trend.
Don’t be stupid and run to be an air force again. Based on past experience, the bull market started six months after the Bitcoin halving, which means that this round of bull market officially started in October this year. This is just the beginning.
Trump will officially take office on January 20 next year, and will most likely implement a series of policies that are beneficial to the cryptocurrency industry. This means that he will actually fulfill his original promise. The U.S. will continue to cut interest rates in the first half of next year, with trillions of dollars in funding. The bull market may not end until at least the second half of next year, and may even last longer.
If institutions and big capital continue to push forward, then what you should do next is to choose the right track and target, and don’t worry too much. Before, you were worried that the second-best player would fail, but now the second-best player has stood up, and all those who were bearish on him have disappeared, right? For small investors like us, we just need to believe in the general trend of the market and follow the trend to make money.
The copycat explosion season is getting closer! Which tracks are bound to be hyped?
1: meme track
Bonk and wif, which were born at the end of 2023, hit new highs at the beginning of 2024, and old meme projects such as pepe and shib also had good gains. Therefore, in the MEME track, we should pay attention to the new meme projects that have been listed on Binance and other major exchanges. According to historical experience, they will continue to be hyped, and market makers need to make money with the help of market hype. Of course, the old memes also have opportunities, but the specific position configuration should be reasonably allocated, and the long-term and swing lines mentioned before should be distinguished! Next, if the market continues to fomo, new memes may continue to be born on major exchanges, and I hope that everyone can get their own income!
2: AI track
It hit bottom in 2022, and started a sharp upward trend in early 2023. Until now, you still remember that wave in early 2023. The AI-related projects in the crypto market have risen a lot, and even the AI concept sector of A-shares has shown a good trend. From the end of 2023 to the beginning of 2024, AI-related crypto projects such as FET, even those related to AI such as WLD and Arkm, have all had good gains. Then in this wave, AI-related copycats have basically been in a strong form recently, so everyone should pay more attention and grasp it. The AI track can even be combined with other sectors, such as AI+meme, AI+refining.
3: Public chain track
Every time a bull market starts, basically every round of main upward trend, the public chain has never been absent, such as SOL, IJ, TIA, SUI, SEE, etc., especially the new public chain projects that have landed on Binance and other major exchanges in the past one or two years, such as SUI in the last round, which has also been frequently pulled up recently. As for the opportunities of the old public chains, IJ, ADA and other typical representatives, so the same sentence still applies, don’t chase highs. Once the old mainstream chases highs and gets trapped, it will be a cycle of four years. It’s a bloody lesson!
The market has new tracks and new narratives, which require more attention. I have also mentioned how to find them in the first place in my previous articles. You can also review them to learn new things. As for other tracks, such as infrastructure, etc., if you have extra positions in your funds, you can choose the leading ones and allocate them. You will basically not go wrong in choosing the leading ones.
