Merry Christmas, everyone! This Christmas Eve may have surprised many people, as the US stock market seems to have been enchanted, skyrocketing after opening!
Bitcoin is also not to be outdone, with BTC's price rebounding over $6,000 from low to high within 24 hours, almost breaking the $100,000 mark again, and even altcoins are showing a nice upward trend.
We talked about this topic yesterday. The start of the altcoin season will inevitably require the combined efforts of sentiment and overflow funds. BTC's price may rise slowly, but at least it's an upward trend, and ETH needs to maintain a rising state. The former brings sentiment, and the latter brings funds.
The altcoin season is definitely coming, and it's not far away!
The arrival of the altcoin season does not mean that BTC has peaked; on the contrary, BTC often has over 50% more room to rise, but the altcoins are simply rising more aggressively at this time!
So, don't rush; the big market will come in two phases. The first phase has already passed, and the second phase is about to begin, and this second phase is when altcoins become the craziest. This is what we call the altcoin season!
I firmly believe that the altcoin season will definitely start; it's just a matter of time. So up to now, I still have not reduced my position in altcoins, and in fact, I've slightly increased it in the last two days.
What will the market trend be like during these days around Christmas?
Speaking of Bitcoin, I think it might hover between $94,000 and $100,000. Although the market sentiment is still a bit tense, the panic has faded quite a bit. If we want to break the current deadlock, there needs to be substantial trading volume with real capital!
Although Bitcoin did not successfully break through $110,000 this time, the overall direction has been determined. This round of Bitcoin, along with altcoins, has indeed been oversold, and right now it's the Christmas season for major players in Europe and the US, so there won’t be much action from big funds today. Although there won’t be a big surge, there won’t be a big drop either, so various altcoin leaders can take this opportunity to push prices with lower costs and without too much black swan risk.
Looking at the big brother of altcoins, Ethereum (ETH), it also stands tall, leading a group of little brothers into battle, and the whole market seems to be warming up. I think it will hover between $3200 and $3700, with a trend even more stable than Bitcoin. I heard that institutional ETFs made significant purchases last night, it seems that institutional bigwigs are still optimistic about Ethereum's future!
I need to remind everyone that the pace of this bull market will be very fast:
This round of the bull market has been the worst holding experience historically, except for Bitcoin. 99% of the time is spent in floating losses or holding positions, and only 1% of the time is spent on price surges, which are also very short and quick.
I have repeatedly reminded everyone in my previous articles that the pace of this bull market will be very fast, mainly referring to the pace of price surges. Once the price starts to surge, the rhythm will also be very quick. Don’t be complacent and don’t harbor illusions.
Since Trump's election, I have analyzed why there is a bull market, why Ethereum is rising, and why altcoins are rising from various dimensions. You can look back at my previous articles.
ETH cannot yet be considered a true price surge; we need to wait until it continuously increases in volume before it can be deemed to have entered the surge phase. A true surge is characterized by continuous volume growth and rising price and volume, and it will happen quickly.
This round of cycles has seen a fierce struggle between retail investors and big players. The vast majority won't wait for that 1% surge time; among those who do wait, most don't know when to run.
Once ETH starts to surge, the entire rhythm will be very fast. At the bottom, we need to overcome fear, and at the top, we need to overcome greed. When it’s time to run, I will notify everyone in the community immediately. When it's time to run, don't drag your feet.
With volatility comes great opportunity; next year's bull market will be much better than today, and the volatility will be even more intense. Price corrections are a necessary part of this process. In this market environment, without some patience and faith, it's hard to truly make money.