Why can't this curse be broken?
Every month at the beginning, the cryptocurrency market experiences a pullback. Bitcoin is currently testing the support near 95k; if it holds, it will continue to challenge the six-digit mark. If it cannot hold, it may need to test the support at the integer level of 90,000 again.
So will December follow the old pattern of pulling back after a surge or will it be a complete washout? What will happen to altcoins?
First, based on the current market capitalization ratio of Bitcoin, there may still be some room for a pullback below, which also indicates certain room for altcoins to catch up. After all, as Bitcoin's market capitalization ratio decreases, the market capitalization of altcoins correspondingly increases.
Secondly, various data and global events for December have been released one after another, including ADP, non-farm payrolls, CPI, interest rate decisions, and previously mentioned Microsoft, which will decide whether to make Bitcoin a reserve asset for the company at the beginning of this month. If approved, it will undoubtedly increase buying power, but at the same time, market volatility will also intensify.
Regardless, this bull market is progressing step by step according to levels and stages, from Bitcoin to the second major ETH, from the second major to mainstream and then to established sub-mainstream. The NULS that everyone positioned around 0.38 perfectly reached the first target of VIP! The communication group also provided simultaneous recommendations, and those who followed benefited greatly! This month's recommended gains include two double-return coins: CETUS and WIF, which are also being recommended simultaneously! Many partners must have kept up! Those who want to get on board, see the introduction.
Back to the point, currently, with a strong rebound in the second major coin, some altcoins have also seen certain gains, so a slight adjustment is normal. It belongs to the brewing of a true bull market for altcoins, and appropriate pullbacks will not affect the overall trend of the upcoming bull market; instead, it presents opportunities for us small investors.
Let's go back to 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 sideways and weak. The intraday resistance level is 98,100, and the support level is 93,300 USD.
Taking advantage of the adjustment in BTC and meme sectors, funds are rotating into Ethereum ecosystem tokens and obscure altcoins. However, some established altcoins, such as XRP, ADA, XLM, EOS, etc., have seen greater gains, and XRP has even returned to the top three in market capitalization, with a total value of up to 250 billion USD.
These tokens have a characteristic: After a long period of bottom consolidation, with no hot spots or concepts, retail investors have very little left, and the big players are highly controlling the market. Therefore, even if the market capitalization is large, the resistance to pulling up is relatively small.
But will this prematurely end the altcoin season?
BTC has risen, meme coins have risen, Ethereum altcoins are also catching up, and now the old-school obscure coins are starting to surge; is the rotation reaching the final stage?
Compared to before, this cycle has more VC altcoins and meme coins, which have somewhat disrupted the original rotation order, but the market trend and cycle generally do not change. The surge in obscure old coins does indicate market risk to some extent; the wind may come quickly, but it may also leave quickly. Especially since this round of altcoin season lacks an ecological narrative, the number of coins and total market capitalization is much higher than in the previous cycle, relying purely on capital to pull up seems a bit hollow.
But when will the market end?
It's hard to say; we need clear bad news or a widespread short squeeze in contracts. Some old coins with significant short-term gains can consider reducing positions to secure profits. From the perspective of the time cycle, the altcoin season is likely to continue for the next half month; historically, there is often pressure in the U.S. stock market around Christmas, which may also drag down the crypto market.
Ethereum altcoins can be given more attention, especially since ETF funds are starting to net buy ETH, and even last Friday's single-day buying volume set a historical high. Moreover, their upward momentum is not fierce, and there is likely more upward space. Taking advantage of the market correction is also a good entry opportunity.
What is a bull market?
A bull market is a process of constantly selling at a profit! Don't be afraid of selling at a profit; during a bear market, don't be afraid of buying and then it dropping, and during a bull market, don't be afraid of selling and then it rising: In this market, you need to do contrarian things to truly make big money, so all you need to do is: Stick to your strategy; the pain brought by contrarianism will reward you later.
Then, be grateful for the market, grateful for all the opportunities that appear before you;
The first principle of a bull market: Don't be afraid of selling at a profit!
The second principle of a bull market: Don't change positions casually; don't change positions casually; don't change positions casually!
The process of the market improving is the process of the wind turning; since EOS has risen, you must believe that your holdings will shine at some point! Frequent position changes result in watching others make money while you feel anxious!
Three classic principles of a bull market:
Be bold and careful; cautiously change positions; don't be afraid of selling at a profit!
