The big positive lines of BTC and ETH brought sunshine to the market and gave me hope after a long wait.
Although I also hope that the main uptrend of BTC will come. However, at this position, BTC may have two trends
The first one is to start the main upward trend again, which means that the big bull market of BTC has officially arrived.
After the main uptrend of BTC, the climax of copycats will come. In terms of time, it is half a year earlier than the last bull market.
The second scenario is that BTC will fluctuate again for a long time at the level of 70,000 to 80,000. The trend can be seen from June to July 2023.
Analyzing from various factors, the probabilities of the first and second types are similar, which I will not elaborate on here.
Historically, after a period of market indifference, a wave of market movements will be triggered when BTC strengthens (including a strong rebound). It has been more than two months since BTC adjusted from its highs, but the adjustments of the altcoins have generally fallen by more than 60% from their highest points.
Therefore, even if the second trend occurs, the market will trigger a very good market trend, which is worth participating in. The most popular ETF recently is ETH.
Some news from the SEC has greatly increased the market's probability of passing the ETF, triggering a surge in ETH. Most people couldn't keep up with the previous pace. So, the key is how ETH will go next?
If a black swan event occurs again and the ETF is ultimately not approved, then it goes without saying that ETH will plummet.
If ETH's ETF is approved as expected, we can refer to BTC for its subsequent trend. After BTC's ETF was approved, the market adjusted by 20% due to the favorable landing, and then a wave of main rising waves was started. The reason for the main rising wave was the buying of US stock funds.
However, the difference is that before BTC passed, the market had a consensus, and the increase before passing was relatively large, so there was a favorable adjustment. ETH did not have such consistency in the market before, and did not cause a big rise, plus BTC has historical experience of subsequent rise.
So this time, ETH is likely to have a small drop in the market first, but many will continue to rise. For BTC, the biggest signal is a strong breakthrough of the previous high of 73,000. But this is not that important, because as long as BTC stabilizes, it doesn’t matter if it doesn’t rise much.
For ETH, the most important ETF news is in the early morning of the 24th.
There have been big differences in the market these past two days. Some people have already cashed in their profits, while others still want to take a gamble.
Operation suggestion: hold a certain position and can go in or out. The core suggestion is still ETH and ETH ecosystem.
In the bull market, these three cryptocurrencies have a 100-fold explosion potential and are worth buying at the bottom!
1. THIS
Ethena Labs is the creator of USDE, a synthetic dollar protocol built on Ethereum. This innovation addresses the need for a stable, scalable form of currency in the crypto space that relies on the traditional banking system.
Recent whale activity has led to a surge in ENA prices. One investor mined 6.26 million ENA tokens from a single address, worth more than $5.3 million. The timing of this investor’s move suggests this is an ideal entry point.
Meanwhile, Ethena is at the 38% Fibonacci level, which could mean that now is a good time to buy. The token is trading at $0.8312 today, up 14.24% from the previous trading day. The increase so far has reached 30%, showing its potential to continue to bring profits to consumers.
2.GALA
Gala aims to reinvent player interaction through Web3 and blockchain technology, and is led by a team of experienced game developers. They are committed to solving systemic problems in traditional game models and giving players freedom, control, and rewards. The project has introduced a large platform with AAA games, attracting a large number of players and continuing to attract gamers around the world.
GALA’s price is $0.04479, up 3.85% in the past 7 days. Its trading price has increased by 53% compared to last year, showing its resilience in the market and investors’ confidence in it. As the market recovers, GALA remains an asset with potential.
3.BONK
The BONK cryptocurrency runs on the Solana blockchain, considered one of the most valuable layer-one (L1) blockchains in the world. BONK aims to be the "Solana community's token" and is designed to be used in a variety of decentralized applications (DApps). According to its white paper, BONK seeks to challenge "predatory VC tokens" that exploit the broader Solana community by redistributing power to the community.
From a technical perspective, BONK is currently in good shape. The Moving Average Convergence Divergence (MACD) line is above the MACD signal line, which is a positive sign. With the former crossing above the latter, the positive momentum seems to be continuing and showing no signs of slowing down.
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