Since the beginning of 2023, bloggers have been iron bulls;
Looking back at the advantages of the established strategy in this bull market, we always insist on maintaining an absolute BTC position of more than 60% when the BTC weekly market comes. When BTC suddenly rises from 52,000 US dollars, we start to intervene in the altcoin market. At most, the position is about 40%. It cannot be said that altcoins only make profits and never lose money. When we have a heavy position in altcoins and FOMO, we will be hurt if we don’t sell when the market rises.
Let's talk about the current BTC. According to the BTC bull market law, the three waves of the daily line turn into the weekly line with the four emotional cycle rules. If you look at it purely from the graph, you must pay attention to the median support of the upper box near 66,000. From the adjustment cycle, if this position is lost, there is indeed a short-term M expectation, which is very standard (the following expectations are 5-55 possible). In fact, I don't want to do a bearish analysis, because most retail investors are fully invested in copycats;
If we want to break this M-head expectation, we have to rely on sideways movement, crossing the current adjustment cycle, the time point is one week before and after July 10;
So if the sideways trend on July 10 passes, does that mean there is no risk of continued downside? My opinion is of course, if it is not weak, it is strong, and subjectively I will continue to look up. Then I have to ask, if BTC goes up by 100,000+ in the current market, will the altcoins lose everything? My answer is no. I still say that there may be a rebound in the early stage, but it will not move later. If BTC slightly adjusts downward, most altcoins will return to the starting point;
Why is this so? It is very obvious. BTC is a ETF that is reluctant to buy due to market expectations. That is to say, most funds believe that the expected profit and loss ratio is greater than the downward trend, so of course they will not sell. In addition, ETFs are still increasing their inflows into BTC, so if BTC breaks through upward, there is no need for a flood of interest rate cuts.
So why is there no market for altcoins? So far, we have seen that altcoins are still in internal circulation, and ETF funds cannot flow into altcoins, not now and not in the future.
As for the current situation, since BTC is at a critical point, I don’t want to be bearish, let alone bearish analysis. Just hold on to BTC. Don’t buy the bottom of the altcoins when they fall further. If you are really optimistic about XX altcoin based on your own cognition, just hold on to the bottom position. If the stepmother (BTC) is in a bad mood, the son will definitely be beaten. Just wait for BTC to adjust its shape and confirm it.
So do altcoins have a chance? There will be a periodic MEME coin explosion (runes and inscriptions are also MEME), and there are also hot money god disks, such as trb high, but how much do you dare to buy?
So everyone, take care. If you have $5,000, use $4,500 to buy BTC and $500 to buy MEME. This is the mainstream way of playing in the market.
4 100x Cryptocurrencies Worth Buying That Are Expected to Soar by the End of 2024!
1.CHZ
CHZ, the token that powers sports fan engagement platform Socios.com, has also attracted a large number of whale investors. Data shows that major investors holding between 10 million and 100 million CHZ tokens have added 180 million tokens to their portfolios.
Additionally, a whale holding 1 billion Infinity tokens has received 1.44 billion CHZ.
The surge in whale accumulation may have been driven by the upcoming European football tournament, which is expected to boost fan token adoption. As a result, Chiliz’s price has risen 39% in the past month and 25% in the past week. Increased demand and upcoming activity suggest that more gains are in store for CHZ.
So, what does this mean? When whales accumulate coins, it can lead to some serious price action. These altcoins could be about to break out!
2.SUN
Solana (SOL-USD) is a project known for being an alternative to Ethereum (ETH-USD) and is currently doing well in the NFT and DeFi space. This layer 1 cryptocurrency network boasts exceptional transaction speeds, processing over 50,000 transactions per second, while ETH can only process 15-20 transactions per second.
Solana’s mobile cryptocurrency strategy is based on the Saga phone, which aims to attract new users through unique applications and experiences. While progress was slow at first, the meme coin-driven marketing campaign has triggered sales growth. VanEck said that by 2030, a “killer app” could push Solana’s value to more than $3,200.
Most cryptocurrency investors are already aware that the SEC recently approved one of the first spot-price Ethereum ETFs. Now, many experts are saying that future spot Solana ETF approval could be in the works due to the similar Proof of Stake (PoS) consensus of both projects. This precedent suggests that the SEC’s consideration of Ethereum as a commodity could be bullish for the spot Solana ETF. I think that with this catalyst alone (in addition to organic network growth), Solana could easily be a high-growth cryptocurrency worth buying right now.
3.AVAX
Avalanche (AVAX-USD) supports decentralized applications and smart contracts in a cost-effective manner. The project recently upgraded Durango to adopt the Teleporter platform for seamless blockchain data exchange, driving Avalanche’s AVAX token up 50% in a short period of time.
Avalanche has shown resilience during a turbulent period in the cryptocurrency market. Despite Bitcoin’s drop to around $71,500, Avalanche has stood out in terms of its breakout above its 20-day exponential moving average. As the coin has seen a slight decline recently, many technical experts believe that now is the time to start building a position.
Investors should view Avalanche's subnet infrastructure as a key reason to buy and hold this crypto for the long term. But if the recent technical charts indicate it's time to buy!
4. YUP
Jupiter (JUP-USD) has been one of the more volatile tokens on the market since its launch earlier this year. As a very early Solana-based swap aggregator, Jupiter has quickly become a DeFi giant. The project aggregates liquidity from multiple DeFi platforms to provide efficient token swaps. The project's recent growth has exceeded the expectations of most in the space, with Jupiter surpassing Umniswap (UNI-USD) to become the largest DEX by volume for a period of time.
It’s certainly possible that this trend could continue, and if it does, this project could have huge upside. The problem is, though, it’s certainly the newest pick on this list, so the risk of this project has increased from almost every angle.
It’s certainly a speculative option for those seeking to enter the high-growth world of decentralized cryptocurrency trading, but it’s my top pick right now.
