Bitcoin showed strong momentum again yesterday. I think the correction is over and Bitcoin is heading for the $100,000 target! Even though there are only two days left in November, it is still possible to break through $100,000 this month. However, today the focus is not on Bitcoin, but on Ethereum.
Yesterday, Ethereum outperformed Bitcoin, with a sharp rise in price and an increase in the exchange rate of Ethereum relative to Bitcoin. Let's talk about some situations that clearly show a bull market trend. From past experience, a bull market usually starts six months after the Bitcoin halving, which means that this round of bull market officially started in October this year, and this is just the beginning.
On January 20 next year, Trump will officially take office and is expected to implement a series of policies that are beneficial to the cryptocurrency industry and fulfill his previous promises. In the first half of next year, the United States will continue to cut interest rates, and funds will reach trillions of dollars. The bull market will last at least until the second half of next year, or even longer if institutions and big capital continue to promote it. What you need to do next is to choose the right track and target, and don't worry too much.
The old number two that we worried about before has now risen, and those who were bearish on him have also disappeared. For small retail investors like us, the key is to believe in the general trend of the market and follow the trend to gain profits. Continuing with today's daily BTC market analysis, from the K-line chart, the 1-hour level shows a sideways upward trend, the 4-hour level is biased towards bulls, the 12-hour level rebounds, and the daily level is biased towards bears. The intraday pressure level is $98,100 and the support level is $92,400.
Recently, competition in the field of artificial intelligence has been extremely fierce, and various emerging currencies have emerged one after another, especially the meme coins on the Solana platform, which have become increasingly popular. At the same time, the ecosystem of the Base platform has also begun to gradually show its potential. The continuous emergence of new projects and tokens has made the market active, as if it has entered a bull market carnival. Against this background, yesterday Rps soared to 480M in market value in just five hours, an increase of 500 times. After the oolong incident, the price of Mona rebounded rapidly after clarification, reaching a high of 26M, and the lowest point soared 130 times. The copycat outbreak 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 growth. 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.