The market currently seems a bit weak; it rises a bit and then quickly falls back down. Those altcoins are continuously dropping, with their bottoms almost being breached. To put it simply, this is a major adjustment period, which could last from one to two months at best, or up to six months at worst. During this time, engaging in some short-term trading is quite suitable, but one needs to have a good mindset; otherwise, it’s easy to panic.
As for me, I’m adopting a strategy of spot trading while adding some positions. Some coins that are stuck, I’ll just hold on to them as an opportunity to buy at the bottom. At the same time, I’m also doing some short-term trades to try to lower my costs a bit more.
Looking at the US stock market, the Nasdaq index has been rising for several days in a row, showing strong rebound momentum. This might be the reason why Bitcoin hasn’t dropped too much. Bitcoin is currently fluctuating between 90,000 and 100,000; this price is supported by ETFs and some US stock funds. If this stalemate continues, it might lead to a drop.
We are currently at a crucial time during the market adjustment. Although the enthusiasm hasn’t faded yet, the possibility of a downturn is still quite significant. Therefore, if we see prices drop, it’s advisable to buy in batches, and if prices rise, don’t be too greedy. Overall, the recent trend has been a volatile market, which might also bring some declines.
If you want to engage in some short-term trading, it’s best to avoid those weaker cryptocurrencies, and don’t hold too heavy positions; otherwise, it’s easy to get stuck. For more stable coins, we can hold them long-term, which will also give us peace of mind.
As the end of the year approaches, I sincerely suggest everyone take a moment to reflect on their investments over the past year and summarize their experiences.
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