The drop of more than 50% in two days can also be recorded in the history of the cryptocurrency circle.
Countless people returned to the starting point, but more of them were because their contracts were liquidated and returned to zero.
This is the result of the choice, one is to be trapped, the other is to quit the circle
The bull market is still going on, and there is still time for everything. I hope my friends can wake up in time.
Returning to the market itself, let’s look at what this wave of sharp drop actually means: BTC’s decline was not large, so why did altcoins plummet?
I have been thinking about this question since 2023. At that time, BTC was the first to end the bear market and enter the bull market.
It is also because we recognized that BTC’s decline has stopped that we decisively bought the bottom, but the performance of altcoins in 2023 can be described as: unsatisfactory
As long as BTC falls, altcoins will plunge sharply, and only a few strong coins will perform well in the future.
I started to see something fishy when BTC rebounded after hitting the neckline in March-May 2023. At that time, I was thinking that ETH, as the second largest currency, also failed to keep up with BTC, not to mention other altcoins.
This is completely different from the past few bull markets. Previously, BTC and ETH could be said to have been in the same boat: Chopstick Brothers
However, in 2023, the correlation between them becomes very small. On the contrary, the overall trend of the Ethereum series is weaker than that of the BTC series.
Looking at the market capitalization of BTC at that time, it has been fluctuating around 45%, while Ethereum has remained at around 19.2%.
That means there are big differences in the market, and combined with the technical trend, this is an unreasonable distribution ratio.
The real starting point for the separation of the Ethereum series and the BTC series is after June 2022, which is caused by the Ethereum 2.0 upgrade on September 15, 2022.
After more than a year of observation, we have also verified our judgment that the big bull market in 2024 will overturn any previous big bull market.
This is why I firmly share that 2024 will be one of the cores of the fourth wave of the bull market in the cryptocurrency circle. BTC is destined to be the leader, and its market value must reach 50% to be reasonable.
Ethereum did not rise much in 2023, but its market value remained at a high range; BTC price rose but its market value did not catch up
This is very dangerous for the main players. This situation must be reversed so that the bull market can continue and they can firmly control the overall situation.
BTC prices also began to rise rapidly from October 2023, and the market value began to gradually recover by 50%.
This is very important for each of us, because it can determine the bull market, and at the same time it can also make it clearer that there will not be a big drop in the probability
Market capitalization is the most important verification point of the capital side, but many people do not know how to analyze it in combination with the market conditions.
These are things that need to be repeatedly scrutinized and sought for truth. Without sufficient experience in the cryptocurrency world, most people just look at them and don’t know their true meaning.
But for insiders, everything that is ignored by retail investors is often the most valuable point.
The current sharp drop in altcoins has only one purpose: to pave the way for BTC
The return of funds to BTC is the key to stabilizing the subsequent development of the cryptocurrency circle. The robust growth of BTC can radiate to other currencies.
Even though the market is falling, as long as the big guys are strong, the cryptocurrency market will still be full of vitality and a hundred flowers will bloom.
Every bull market in history is like this. The copycat is responsible for attracting retail investors to enter the market, harvesting a wave of funds and returning to BTC. This cycle repeats itself to create a super bull market in the cryptocurrency circle.
So in the current market, what are you worried about? If you have funds, you can definitely buy at the bottom; but you have to do a good job of risk control and reasonable position management, otherwise your hard-earned money may be gone without return.
If you want to dig deep into the cryptocurrency circle but cannot recognize the market, then no matter how good the opportunity is, it has nothing to do with you. Follow Lao Huang on the homepage, and he will share the spot password, bull market layout strategy, and 100-fold potential coins for free every day!
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