Bitcoin breaks 100,000, welcome to altcoin season!
Let me share some thoughts:
1️⃣
Recently, many coins have started to rotate, like ADA and Doge, which have not really pulled back after their rallies and are continuously hitting new highs.
2️⃣
The market cap of Bitcoin is already at a high level, and the price is not low. Many people will gradually switch their profits from Bitcoin to relatively cheaper altcoins, as I have done myself.
3️⃣
The market sentiment has been quite good recently, with KSM, Sand, and others experiencing violent rallies over the weekend, really boosting the emotional value. Of course, I understand that such rallies are driven by exchanges, not necessarily by market makers.
4️⃣
From a cyclical perspective, we have entered the craziest 5 months of a bull market. If altcoins do not move soon, we will miss this cycle.
5️⃣
Bitcoin is currently at 98,000, and it hasn't ignited the market yet, but the impact of the 100,000 threshold is different; media coverage will be more frenzied. New entrants, finding Bitcoin too expensive, will only buy altcoins.
In the later stages of a bull market, market sentiment is very important! Rallies will make people more FOMO!
