January 20, 2024 Grandpa checks in
Someone held a Web3 conference today. The number of people was much larger than expected. Compared with the conferences last year, it was much more lively, which also shows that the current market is still relatively active. Including in the recent communication with some old members, I found that some people took a break for 1-2 years and now come to this market again. These phenomena all show that investor sentiment has been rekindled because of the arrival of the bull market. In general, we have passed the darkest moment of this round of bull-bear cycle, so there is really no need to worry too much.
Of course, I don’t recommend you to stop and go in this market. If you really can’t play well, then get out decisively. Don’t run away from the bear market and come back to the bull market because of the rise. A good long-term rhythm is very important. To keep a good rhythm, you must stay in this market for a long time. If you can’t stand the torment of the long bear market, you can’t enjoy the rich fruits of the bull market. Sometimes losing money is to make more money, and sometimes making less money is to reduce risks and avoid losing money. But I still recommend that you stick to this circle and treat crypto investment as one of your side jobs.
In terms of market conditions, Bitcoin has held the 41,000-41,500 level. Although the trend is weak and it feels like the support will break at any time, I am still optimistic about the short-term market. The correction range of Bitcoin from 48,000 is enough. If the market gives people a feeling that it is about to fall below the support, it is likely to be a smokescreen by the main force. Although Ethereum has also experienced a correction, the exchange rate has escaped the bottom range relative to Bitcoin. In addition, Ethereum was the main force pulling the market before this correction. Therefore, if you want to intervene, Ethereum can be considered as a key target.
The inscription market is currently quite cold, especially compared to a while ago. Although there are not many high-quality targets in this sector and I have not focused on it, from an objective point of view, the callback of Ordi and Sats is not large, and the heat will not be wasted. I think the main force of inscription has not retreated yet. The start of this wave of market is likely to be driven by the Btc ecosystem. Of course, since there are no particularly high-quality targets in inscription, I hope that there will be eye-catching projects in L2 as soon as possible.
Thank you for your attention and likes.
