Why can't this curse be broken?
Every time at the beginning of the month, the cryptocurrency market sees a pullback. Bitcoin is currently testing the support around 95k. If it holds, it will continue to challenge the six-figure mark; if it doesn't hold, it may continue to probe downwards, testing the support at the 90,000 mark.
So will December follow the old pattern of a pullback before a surge, or will it be a complete washout? What will happen to the altcoins?
First, looking at the current market cap ratio of Bitcoin, there may still be some room for pullback below. Of course, this also indicates certain recovery space for altcoins; after all, when Bitcoin's market cap ratio goes down, the market cap of altcoins correspondingly goes up.
Secondly, various data for December have been released one after another, such as ADP, non-farm payrolls, CPI, interest rate decisions, and earlier mentioned, Microsoft, this giant, will also decide at the beginning of this month whether to use Bitcoin as a reserve asset for the company. If approved, it will undoubtedly increase buying power, but at the same time, market volatility will also intensify.
In any case, this round of bull market is progressing step by step according to levels and stages, from Bitcoin to Ethereum, from Ethereum to mainstream and then to established altcoins. NULS, which was suggested for layout around 0.38, has perfectly reached the first target for VIPs! The communication group also provided synchronized recommendations, and those who followed along have gained a lot! This month's recommended gains include two doubling coins: CETUS and WIF, which are also recommended simultaneously! I believe many friends have followed up! Those who want to get in, add me on WeChat!
Back to the main topic, currently, with a strong rebound from the second largest cryptocurrency, some altcoins have also seen certain increases, so a slight adjustment is normal. This is a sign that a real bull market for altcoins is brewing. A proper pullback will not affect the overall trend of the upcoming bull market; rather, it presents opportunities for us small investors.
Speaking of today's daily $BTC market analysis: From the K-line perspective, the 1-hour level is down, the 4-hour level is down, the 12-hour level is slightly down, and the daily level is weakly sideways. The intraday resistance level is $98,100, and the support level is $93,300.
While BTC and meme coins adjust, funds are rotating into Ethereum ecosystem tokens and lesser-known altcoins. However, some well-known altcoins, such as XRP, ADA, XLM, and EOS, have seen larger gains, with XRP even returning to the top three by market cap, totaling up to $250 billion.
These tokens have a characteristic of having undergone a long period of bottom consolidation, with no hotspots or concepts, and retail investors' holdings have dwindled. The market makers have a high level of control, so even if the market cap is large, the resistance to a price surge is relatively small.
But will this prematurely end the altcoin season?
BTC has risen, meme coins have risen, Ethereum's altcoins are also catching up, are the established lesser-known coins starting to surge now? Is this the last leg of the rotation?
Compared to the past, this cycle has seen more VC-backed altcoins and meme coins, which have somewhat disrupted the original rotation order, but the market trend and cycle generally do not change. The surge of lesser-known old coins somewhat indicates market risk; the wind comes quickly, it may also leave quickly. Especially since this round of altcoin season lacks ecological narratives, the number of coins and overall market cap is much higher than in the last cycle. Relying solely on capital to drive prices is somewhat hollow.
But when will the market end?
It's hard to say. Clear negative news or a general short squeeze could be needed. Some old coins that have risen significantly in the short term could be considered for reducing positions to lock in profits. From a time cycle perspective, the altcoin season is likely to continue for the next half month. Historically, there tends to be some pressure on the US stock market around Christmas, which could also drag down the crypto market.
Ethereum altcoins can be paid more attention to, as ETF funds have started to net buy ETH, even hitting a record single-day purchase volume last Friday, and their price increases are not very fierce, likely leaving room for upward movement. Taking advantage of the market adjustments is also a good entry opportunity.
What is a bull market?
A bull market is a process of continuously selling too early! Don't be afraid to sell too early; in a bear market, don't be afraid that buying will lead to losses, and in a bull market, don't be afraid that selling will lead to gains: In this market, you need to do the opposite of human nature to really make big money, so what you need to do is only one thing: Stick to your strategy; the pain brought by going against human nature will reward you later.
Then, be grateful for the market, be grateful for every opportunity that appears in front of you;
First principle of a bull market: Don't be afraid of selling too early!
Second principle of a bull market: Do not change positions casually, do not change positions casually, do not change positions casually!
The process of the market improving is a process of fortunes turning. EOS has risen; you should believe that your holdings will have their shining moments! Frequent position changes will result in watching others make profits while you become anxious!
Three classic principles of a bull market:
Be bold and attentive; be cautious in changing positions; don't be afraid of selling too early!
