Every year, there are four turning points in the market: New Year's Day, Spring Festival, May Day, and November. December has important meetings; if a deep pit continues to be dug before the meetings, the main force will protect the market after the meetings until mid-December. In January, with Trump taking office and the Spring Festival holiday approaching, considering the utilization of funds and various uncertainties with Trump's presidency, the turning point is expected around New Year's Day. Currently, there's no need to analyze where the technical bottom is; just hold stocks according to the turning points. Overthinking may lead to difficulties in holding onto chips.
Bitcoin recently pulled back, dropping to a low of $90,808. This adjustment is normal and shouldn't cause excessive worry; the purpose of the pullback is to build momentum for breaking the $100,000 mark. A rebound is expected soon. The view on the larger cycle remains unchanged, and the bull market is still ongoing. However, it is essential to be prepared for pullbacks, as there are several favorable factors ahead, including interest rate cuts and the release of funds from FTX. The market outlook remains optimistic, and the mid-stage of the bull market is about to arrive.
Currently, altcoins seem to be in a recovery phase. They need to undergo a deep squat again to wash away excess leverage. To eliminate leverage without allowing more retail investors to enter, the best way is to create a spike. The beginning of December and the Christmas pullback are great opportunities to increase positions. CZ's tweets about memes hinted that the upcoming speculation will focus on the Ethereum ecosystem until Ethereum's Prague upgrade in 2025. Based on the recent increase, we recommend leading projects in sectors like SSV, LDO, OP, etc., as the strong continue to get stronger.
Bitcoin may break the $120,000 mark in December, and 3 types of altcoins could explode 20-100 times in the future!
ENS
Recently, the price of Ethereum Name Service (#ENS) has seen a significant increase, possibly signaling an important message from the market. On January 3, 2024, Ethereum co-founder Vitalik Buterin emphasized the importance of ENS for Ethereum users, especially those on layer 2 (#L2) networks. He urged L2 networks to accelerate the integration of ENS features to enhance user experience and strengthen Ethereum's scalability.
The close association between ENS and Ethereum suggests that if this trend continues, projects strongly related to Ethereum's layer 2 networks may welcome a new round of increases driven by the expansion of the L2 ecosystem.
DOGE
Dogecoin is expected to become one of the payment currencies, thanks to strong support from Elon Musk. It is the first MEME coin, analogous to Bitcoin's status in the cryptocurrency world— the king of MEME.
If you haven't invested in Dogecoin yet, the pullback is a great opportunity!
As long as the price of Dogecoin can break through the $0.5 barrier, it will have entered the 'bull market' gate. Moreover, Trump's inauguration may give Dogecoin another boost, pushing it toward the $1 target.
PEPE
In the spring of 2023, PEPE's popularity soared. Its market capitalization peaked at $1.6 billion, making early investors millionaires. This explosive growth triggered what some call the 'meme coin season,' with other meme-based currencies experiencing wild fluctuations.
PEPE's roadmap includes listing on major exchanges and aiming for a 'meme takeover.' While the future is uncertain, many are watching to see if PEPE can reach new heights, especially with the upcoming Bitcoin halving that could trigger a bull market. In the active and unpredictable world of cryptocurrency, PEPE stands out as a currency worth attention. There is still a 5x potential from the current standpoint!
