This morning, the market saw Bitcoin rally to induce buying, followed by a sell-off. Many altcoins have surged multiple times, posing significant risks. The ETF has seen net inflows daily; if there is a reversal to outflows, it could signal the beginning of a downturn. I looked at the urpd data last night, and there are indeed some risks present. This is currently brewing. It resembles the previous surge around 73,700, and the chip distribution before breaking the historical high looks very similar. Although there may be good news in the coming days, one should remain rational.
The altcoin season has lasted a full month, and the money-making trend in the cryptocurrency circle has arrived.
The end time of the altcoin season needs to be analyzed over a span of one or two weeks. The first month of the altcoin season is divided into three phases: the initiation phase (Bitcoin 69,000 U - 90,000 U), the acceleration phase (90,000 U - 99,000 U), and the full bloom phase (99,000 U officially breaking through 100,000 U). The first phase lasts for one week, from November 6 to November 14; the second phase lasts for nine days, from November 14 to November 23; and the third phase lasts for two weeks, from November 23 to December 5.
If Bitcoin fails to break a new high again over two weeks, for instance, if it does not surpass 110,000 U within two weeks, this may indicate a new liquidity shortage in the market, and the altcoin season may end. Similarly, for Ethereum, if it cannot continue to push prices up from the 4,000 U level over two weeks, it may also indicate a lack of strength in the market.
Moreover, the U.S. Ethereum spot ETF has seen net inflows for seven consecutive days, and if net outflows occur, this could also indicate a turning point in this round of altcoin season.
The altcoin market for cryptocurrencies has reached a scale of hundreds of billions of dollars, which naturally creates certain market rules.
Layout 4 cryptocurrencies that could potentially explode 100 times!
1.FTM
Fantom is a relatively promising project, positioned as an alternative to Ethereum. It primarily addresses the bottleneck issues of early blockchain technology by improving scalability, security, and decentralization. The Fantom platform provides tools to simplify decentralized applications, supports staking incentives, and has built-in DeFi functionality.
Currently, the price of Fantom is approximately $1.29, having decreased by 2.67% in the past 24 hours and increased by 275% over the past year. From a market performance perspective, Fantom has been very strong, consistently trading above the 200-day simple moving average, indicating a bullish market sentiment.
In my personal opinion, Fantom may experience a significant surge, as its current trend is stable and feels strong; there could be a large bullish candle in the coming days, pushing the price close to $60. Recently, altcoins have seen large increases, and I believe Fantom has that potential as well.
2.APT
Aptos is referred to by many as the 'successor to Solana'; this project has risen rapidly in the blockchain space. It uses the Move programming language, aiming to enhance transaction speed and scalability. The Aptos ecosystem covers multiple high-potential areas, including DeFi, gaming, and enterprise applications, attracting developers from around the world.
Although Aptos experienced a bear market, it had a strong rebound in 2023, with the price rising significantly from $2. In comparison, its 'twin' Sui has reached a market capitalization of $4.2 billion, while Aptos currently has a market cap of only $1.6 billion, indicating significant room for future growth.
3.SNX
The stock price of Synthetix (SNX) is $3.3, having increased by 1.07% in the past day. Its market capitalization is $1.06 billion, growing by 0.95%, with a 24-hour trading volume of $88.13 million, an increase of 31.04%.
The trading price of SNX is above its 200-day simple moving average (SMA) of $1.96, showing strong performance, 60.72% higher than this benchmark. The sentiment for Synthetix appears bullish, with the fear and greed index scoring 75 (greed). The token has performed relatively positively recently, with 20 out of the past 30 days showing increases and a daily gain success rate of 67%.
By the end of 2024, the trading price of Synthetix is expected to range between $3.05 and $3.75. This implies a potential average price of $3.38, meaning a moderate increase of 6.87% from current levels. If this prediction holds, investors' return on investment (ROI) is expected to be around 18.63%, providing moderate gains for holders of the asset.
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