November 21, Thursday, good afternoon!
✅️ Market Review and Analysis
The Bitcoin market is as expected; the Ethereum market is trash, but even trash can have its day!
The current sentiment brought about by the rise of Bitcoin is quite FOMO. In the past, when we said Bitcoin would reach 100,000 USD, we always regarded this number as a slogan. However, this dream is about to be realized soon. From 312 to 519 to today, under the big cycle environment of Bitcoin, today's Bitcoin has almost reached a peak of 98,000 USD, and with over 600,000 for one Bitcoin, we can only say this Bitcoin is too enticing!
✅️ Current Situation Analysis
Currently, the price of Bitcoin (BTC) is around 97,200, and Ethereum (ETH) is around 3,120. Based on the previous price as a reference, ETH should theoretically have already broken through 5,000 USD. The current price is almost half of what was expected.
In terms of altcoins, aside from some low-market-cap altcoins that have been active, these actions are also for coins that have dropped many times. It is very difficult to grasp these kinds of coins, and many old coins carry a potential risk. Without positive market behavior, they might be delisted by exchanges.
Secondly, various aspects of the Meme market are involved; those who know how to play are making a killing, while those who don’t are desperately entering, only to come out bloodied.
Looking back, the biggest beneficiaries in the last bull market were the early players of DeFi. Subsequently, around November 2020, the Bitcoin bloodsucking market started, leading to a retaliatory surge of ETH and altcoins in early January 2021.
In this round of bull market, it has transitioned from DeFi to Meme, and the gains for Meme players have been enormous. In the current environment, it is a complete Bitcoin bloodsucking market, with Bitcoin breaking through 100,000 USD being within reach. This round may even exceed 150,000 USD, thus completely realizing a Bitcoin worth 1 million.
The phase is transitional; every sector has its own narrative and development period. Many people are no longer optimistic about ETH. To be honest, at this moment, even I am not certain, but we cannot deny the position of the second dragon; perhaps the time has just not come yet!
If we say this round of market started with Bitcoin and will end with Bitcoin, at least it seems that Bitcoin has not ended yet, or for Bitcoin, it might be the beginning of a new milestone.
The time has not come; those that should rise will rise. Hitting the right sector is the most important!
✅️ Spot Market
Currently, secondary returns are very low, and most people are trapped. However, there is a bit of good news: compared to contracts and Meme coins, at least they won't go to zero. As long as the coins are still there, there is hope!
At this position, no one dares to be certain whether altcoins are dead or alive. Everything depends on ETH's movements. We can also see that when Bitcoin rises, altcoins remain still; when ETH rises, altcoins will follow. So everything depends on how Ethereum moves!
Do not increase or average down on spot positions; just holding is enough. We cannot sell at the peak, which was in March this year, nor will we buy at the lowest point. The 52,000 Bitcoin is already out of sight. At the right time, holding the correct position is all we can do now!
Play less with contracts, avoid leverage, strive to learn, and improve understanding to maximize profits in the future complex environment!
