December 1, 2024

Time flies, and in the blink of an eye, we have entered December. The bull market, which I thought would only start at the end of the year, has emerged without any warning amidst hesitation. At this point, I feel that this round of the bull market has progressed about one-third of the way. One reason is that Bitcoin has risen fivefold from its bottom, achieving the ultimate goal of this bull market ahead of time; another reason is that sector rotation has been quite sufficient, with the largest market capitalization sector, DeFi, also basically doubling overall. Currently, funds are beginning to overflow into some smaller altcoins.

Once the overall rotation completes a cycle, the next direction will depend on Bitcoin's decision to either break through $100,000 and continue the rally or to pull back a bit, which all hinges on Bitcoin's price. In fact, if you observe closely, you will find that the earliest rising coins, BTC, DOGE, and SOL, are all stuck in high-level consolidation and have not broken new highs for several days. Of course, this kind of market behavior is normal; otherwise, a continuous one-sided rise is unrealistic. However, if the high-level consolidation continues, there is indeed a possibility for another wave of adjustment.

Regardless, the current market conditions provide ample operational space for those who have held on. In recent days, CRV has risen significantly, and I started building a position when the founder's staked position was liquidated. Of course, I have also been stuck for a long time, and some fans have been waiting alongside for so long, and now we are enjoying profits of over double. Certainly, for the altcoins that have already started to rise, the target space is definitely not limited to this; I believe the growth rate of altcoins can generally catch up with Bitcoin without issue. That said, one can also consider taking some defensive measures or doing some swing trading.

From the price performance of ARB and OP, I believe the sectors worth watching next are various public chains. Recently, both the BASE chain and BSC chain have had some good projects. When funds are relatively abundant, how to attract funds to enter will become the next phase of competition among various public chains. Of course, specific projects may need to be more detailed; for instance, the recent launch of THE on Binance requires dedicated research into the project, and this is where research and investment capabilities will start to come into play.

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