With the arrival of Christmas, Bitcoin was expected to experience a temporary retreat as investors left the market, leading to continued low-level fluctuations. However, perhaps due to institutions or whales seizing the opportunity to accumulate, Bitcoin reached as high as $99,968 this morning at 8 AM, extremely close to the $100,000 mark. As of the time of writing, it has slightly retreated to $98,839.
From the current market situation, although the volatility has narrowed, the bulls continue to launch wave after wave of attacks, showing a trend of fluctuating upward movement. The hourly level has firmly established support at the middle track of the Bollinger Bands. Although there have been several upward attempts that failed to break through significant resistance levels, it is clearly noticeable that bullish sentiment in the market is gradually recovering. The daily level has successfully closed in the green, and there is a demand for further upward movement after the consolidation phase ends.
Regarding Ethereum, it has risen consecutively for four months in each of the second years after Bitcoin's halving. Cherish the last opportunity to get on board.
On the other hand, Ethereum has recently welcomed new developments.
Last week, Ethereum developers held a meeting. Some internal news was revealed: the highly anticipated fifth test network will meet everyone at the beginning of next month. This may be the last key rehearsal before the Prague upgrade, indicating that Ethereum is about to enter a brand new development stage. The official time for the Prague upgrade is set for March 2025, and the market has long been eager to move, with significant price fluctuations expected in January, and a price increase has become a foregone conclusion.
Before Christmas, while Bitcoin was performing sluggishly, BGB reached a new high, leading me to feel that BGB is about to lead the market and bring a frenzy of bull markets in cryptocurrency. It's truly amazing! After BGB surged, BWB began to skyrocket. Those who are still on the sidelines should buy BWB in batches around 0.5 and below. BGB can rise 20 times in a year, and BWB reaching over 1 dollar is not out of the question.
The mainline of this bull market may unfold around the following directions:
1. The Rise of High-Performance Blockchains: Emerging projects such as SOL, SUI, and Hyperliquid are gaining a foothold in the market.
2. DEX Experience Revolution: High-performance chains gradually challenge centralized exchanges, attracting more users.
3. AI + Chain Integration: Innovative applications such as smart agents and blockchain games are becoming new hotspots.
4. Institutional Funds Leading: ETF funds are pouring in, providing stable momentum for the market.
The key to this bull market lies in the integration of decentralized experiences and technological innovations, which is the most noteworthy mainline to follow.
Do you think high-performance chains will become the core driving force of this bull market?
