How long can Bitcoin continue to rise?
Bitcoin is currently close to the upper limit of the big cycle, around 100,000. Many people in the market even predict that it will reach 200,000. But I think even if the price will eventually reach this target, the timing may not be this year, or even next year. From a macro and market perspective, the positive factors for Bitcoin's rise are gradually weakening, but this does not mean that the market will end. The logic of this super cycle is different from the previous one, so it cannot be judged simply based on the previous bull market cycle.
When trading, you should pay attention to the market rhythm and don't blindly follow emotions. For example, in the meme coin market, I cleared my position at the high point and reminded everyone, but many people still lost their profits. Remember, the money is yours, and the emotions are the market's. You must have independent judgment and not be swayed by the market.
The cryptocurrency market will usher in several major positive developments in December:
December 10 Microsoft Bitcoin investment proposal: Microsoft has $110 billion in investment funds. Once the proposal is passed, any purchase may drive Bitcoin up. In addition, MicroStrategy CEO Michael Saylor will attend Microsoft's internal meeting to give a speech, further increasing the expectation that the proposal will be passed. Even if the result is unclear, the heat of this event itself is enough to drive the market up.
The Federal Reserve cut interest rates on December 19: The rate cut will inject more liquidity into the market, helping Bitcoin and other mainstream currencies to rise.
Trump and Musk will take office in January next year: the influence of these two figures will continue to drive the popularity of Bitcoin and Doge.
A new round of market conditions is just around the corner, just wait patiently.
Let’s take a look at the Bitcoin on-chain data!
In the past 7 days, the Bitcoin stock of exchanges across the entire network has seen the second largest net outflow in history. After buying a large number of coins on exchanges recently, whales have transferred them to cold wallets, almost emptying the exchanges, and the phenomenon of hard-to-find coins has reappeared. Looking back at history, every time such a large-scale capital outflow occurs, the market will subsequently usher in a surge. For example, after the halving in 2020, Bitcoin rose from more than 10,000 to 50,000 or 60,000. The whales transferred the coins back to the exchanges at a high level to cash out, completing the operation of buying low and selling high.
The current consolidation is just a profit digestion after the rise, not the end of the market. Bitcoin did not experience a sharp correction, but instead performed strongly as whales increased their positions. This is a clear bull market signal. Patiently wait for the consolidation to end, and the next target may reach 100,000-120,000. From past experience, those who cannot make money in a bull market are often those who cannot hold on to their coins. High-quality coins can get rich returns as long as they are held for a long time.
After looking at the overall market, let’s take a look at the altcoins. Recently, the old-brand currencies have performed very strongly! Today, the old coins IOTA, HBAR, XVG, etc. can’t stop pulling!
For example, the recent performance of XRP and Doge proves this point: before the hot spots come, these coins are often silent for a long time, but once they become the focus, they can increase several times in a short period of time.
Similarly, ETH has similar potential. The current increase is not large, but when it is upgraded in March, it may double in two months, for example, from 4,000 directly to 8,000, and the end-of-year target may be 10,000 or 13,000.
Smart money always lurks when no one is interested, so ETH can now consider adding a safe double leverage, which doubles the return and is stable, even more reliable than investing in local dogs. In the short term, ETH may consolidate in the 3900-4000 range, but it is likely to set a new high after breaking through.
In addition, the Ethereum ecosystem is also worthy of attention, especially Puffer in the re-staking sector.
This is a project invested by Binance Labs but not yet listed on Binance. It has a strong investment lineup, including the Ethereum Foundation, Binance, Coinbase, Consensys, etc., and has a high probability of being listed on Binance. The current market value is only 50 million, which still has a lot of room for growth compared with Eigen (7 billion) and EtherFi (2.5 billion). It has good fundamentals and low valuation, which is suitable for ambush with small positions.
As for recent hot spots, ENS has doubled, and it is recommended to stop profit at 46 points; Pepe, as a native dog coin of Ethereum ecosystem, has the potential to double or triple in the alt season, and it is worth planning in advance. In the short term, the on-chain data shows that whales have built positions, and Pepe and SHIB have risen by more than 30% after the positive news was realized, proving the importance of ambush in advance.
Meanwhile, the recently launched Moodeng has been listed on Coinbase and doubled in one day; Uni also rose from 12.8 to 14.6. These successful ambush strategies rely on on-chain data and keen insight into market trends.
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.