Which coin can make you rich now? I am most optimistic about it!
Will Bitcoin fall back? If you enter the market now, will you buy at the top or the bottom?
What major events will happen in the cryptocurrency world next? Let’s follow Shuqin to find out~
The first thing everyone is most concerned about is whether the bull market in the cryptocurrency circle has really arrived. Shuqin believes that these data have actually given us the answer. Let’s take a look at the picture.
Although Bitcoin is still a long way from its previous high of 74,000, the total contract holdings of Bitcoin have broken through the historical high in March and reached 39 billion US dollars.
So the current situation is that retail investors are still wondering whether the bull market has arrived or not, which is in stark contrast to the optimistic sentiment in March. However, whales are building large positions, with the amount of funds entering the market far exceeding that in March, which is in sharp contrast to retail investors.
And the most important thing is that this time the profit-taking investors showed no signs of selling off and are still holding on.
The previous surge in March was caused by a lot of profit taking, and the whales quietly left the market when the market was the craziest. Compared with March, this wave of price increase showed no signs of selling at all, and the retail investors were the ones who sold more. The whales held on firmly, believing that the end of this rise was far from over.
I have noticed a strange phenomenon in the cryptocurrency world recently, that is, Bitcoin is extremely strong, but various altcoins have been unable to recover. This goes against everyone's usual perception, because the cryptocurrency world generally rises together.
So what went wrong? In fact, this is a very classic Bitcoin main uptrend, which requires a lot of funds to pull up the market, which will reversely suck the blood of altcoins. In the figure, the market value of Bitcoin accounts for a small proportion of the currency and does not increase, which is the same as in the previous cycles.
When Bitcoin reaches near the peak of the cycle and can no longer rise, funds begin to seek other growth points and spill over to other small coins. Only then will the carnival of the altcoin season come again. As a result, the market value share of Bitcoin drops sharply, and the market value of altcoins begins to soar. An increase of 5 times or even 50 times occurs at that point in time.
Therefore, compared with the Bitcoin with a value of nearly 70,000, I think the altcoins Pepe, ENS, Floki and WIF, which are currently unpopular, have much greater growth opportunities in the future. Because Bitcoin will only double from 70,000 to 140,000, while the altcoins will increase by more than 3 or 5 times every time they go crazy.
But the prerequisite is that you have to be able to endure loneliness if you want to play with the copycat. Now these fluctuations are just minor ones. It will be the time for them to really make their move after the main upward trend of Bitcoin is over.
However, as the most likely growth point in the cryptocurrency world in the short term, the US election has ushered in a very strange situation.
On the one hand, the prediction market for Trump's chances of winning the election has soared again, reaching 62%, far ahead of his opponent Harris by 23 percentage points, which is really exaggerated.
On the other hand, traditional media's survey results show that Harris has a 49% chance of winning, slightly ahead of Trump's 47%.
So the left and right factions can be said to have different opinions, and both claim to be ahead. However, I think the data from the prediction market may be more realistic, because the total amount of bets has reached 2 billion US dollars, which are all real money invested by participants. No one wants to lose money, so it is actually more convincing than traditional questionnaires.
But we must also be vigilant, because there are indeed some uncertainties here.
No matter what, the election result will be announced in 18 days. I am willing to go all in with double leverage to take a chance. I think double leverage is more stable because even if Trump unfortunately loses the election, we won't suffer any losses. Anyway, the double leverage won't explode and we can just hold on to it and get it back, right?
Currently, my main holdings are still Ethereum and its ecological currency, because whether it is the Ethereum Developer Conference at the beginning of next month or the Prague upgrade at the beginning of next year, it has strong expectations for rising, which is much better than other coins with unclear benefits.
Dogecoin is also performing well now because of the dream collaboration between Musk and Trump. We have talked about the good news of Dogecoin for many consecutive issues. It has risen from 0.10 last week to 0.147 now, soaring by 40%+ in just one week.
If Trump wins, Doge will rise further. So congratulations to those who have invested in Doge with me.
This is the power of hot coins. As long as you are well-informed and have insight into the market in advance, you can reap considerable returns every week. Shuqin updates these in real time every day. If you want to operate together, you can take a look.
Okay, let’s continue.
From the K-line, Bitcoin has actually broken through. Now it depends on whether it can successfully stabilize. I think there is great hope. However, if it really falls back, it will become a false breakthrough to lure more investors. We still need to be on guard against this.
So if you want to be safe, you can wait for it to break through 70,000 or even more steadily break through the previous high of 74,000 before entering the market. Although you will get less of the 7% intermediate increase, it is safer. Because if it does not break through and goes down again, then you may be chasing the highest point, right?
As for Ethereum’s K-line, I still maintain my previous view. We must pay attention to the 2800 level to see if it can stand above it and open up a larger upward space. However, Shuqin thinks the probability is quite high. After all, the Ethereum Developer Conference will be held in early November, so I am willing to take a chance.
On the other hand, Wall Street funds are also continuing to flow into Bitcoin ETFs. Except for occasional outflows from Grayscale Trust, mainstream funds only buy and do not sell. In the more than six months since the ETF was issued, Wall Street has unknowingly purchased $65 billion worth of Bitcoin.
These people buy hundreds of millions every day, which is terrifying. By the end of the year, their holdings are expected to hit the 100 billion mark. This is a huge amount of incremental funds. So when those with unsteady ideas have sold all their stocks and there is nothing left to sell, while funds are still buying, the bull market will come.
Are you ready?
Finally, don’t forget to click and follow us, let’s achieve financial freedom together in this bull market~ ^-^
