Many people trade contracts randomly! One moment they go long, the next moment they go short. Contracts are just predictions of future price movements; if you predict correctly, you profit, and if you predict incorrectly, you lose. Position management must be controlled well, but the current trend is likely to be opposite to your view. This is the principle of prices rising when you short and falling when you go long; you can never short at the highest point or go long at the lowest point! There is no highest or lowest! There is only higher or lower!
The recent upward trend of Bitcoin shows a clear pattern: whenever it breaks through important integer levels, there is a certain adjustment confirmation process.
For example: When it broke through 80,000, the price rose to 81,600, then retraced to around 78,888-78,666 to confirm support, before pushing further towards the 85,000-90,000 range. In this wave of increase, the area around 78,888 became a key bottoming point.
When the price first broke through 90,000, it reached 93,450 in the short term, then adjusted to 89,600, rebounded to 91,600, and then retraced again to 86,600 (market information on Friday, November 15, had some impact), before breaking through to the 95,000-99,000 range.
Now, Bitcoin has broken through 100,000 and briefly touched 104,600, with a rapid fluctuation of 10,000 points consuming half of it, and crossing two important resistance levels above 100,000. Therefore, there will likely be at least one retracement in the short term, with a target possibly around 101,600. In the past thirty thousand points, each time a new integer level was broken, the initial breakout was often more intense. If there is no sudden market information impact, today's rise is very likely to stabilize above the 100,000 level.
The market adjustment for Bitcoin has ended, and a rally is about to start.
I didn't expect it to start surging with increased volume early this morning, and it has already surpassed the 100,000 mark. It's estimated that it will break through 110,000 within a week or two.
However, from the net inflow data of Bitcoin spot ETFs, aside from IBIT, the net inflows for FBTC, ARKB, and BITB have not been large in the past couple of days; the Coinbase Bitcoin premium index has shown a significant increase.
The current upward trend does not seem to be driven by ETFs.
100,000! That's incredible, witnessing history everyone!!! The big pie has returned to a sucking state, and money will flow into the counterfeit market, the counterfeits will start performing.
Cryptocurrency Recommendations BTC: Hold and don’t look back after selling Old Altcoins: No logic, purely driven by funds, if you can’t get in, don’t chase VC Coins: Bet on the coin Meme Coins: A good wash is healthier, wildfires can’t burn it all, it will spring back with the breeze.
According to BlockBeats, on December 5, a16z listed the key areas of the cryptocurrency industry in the coming year, emphasizing that tokenized use cases and the integration of artificial intelligence with blockchain technology are potential growth drivers. According to a16z's report, applications based on artificial intelligence and running on the chain are expected to bring at least three emerging trends throughout the industry: wallets driven by artificial intelligence agents, decentralized autonomous chatbots, and identity solutions. The company believes that decentralized chatbots can be used for social media content and asset management through a trusted execution environment: "By running a set of permissionless nodes and coordinated by a consensus protocol, chatbots can even become the first truly autonomous billion-dollar entity." Another trend expected to emerge in 2025 is related to stablecoins. In the past few months, the industry has established a market suitable for global remittances, and several companies and protocols have launched new stablecoins pegged to the US dollar. a16z predicts that stablecoins will gradually replace daily credit card transactions starting next year. In addition, as the infrastructure matures, it is expected that by 2025, more "unconventional assets" will be on the chain, thereby achieving cross-sector tokenization. The report predicts that previously overlooked assets, such as biometric data, will generate new revenue streams. “Individuals can tokenize their biometric data; the information can then be rented out to companies through smart contracts,” the report states, adding that the collection of medical data has become possible through decentralized scientific protocols, enabling users to profit from previously untapped resources. On-chain trading of government bonds is another prospect for 2025 and beyond. The market for tokens backed by government securities began to flourish in 2024, supported by institutional adoption of digital assets. Looking ahead, a16z expects governments themselves to explore the benefits of issuing debt on-chain. (Cointelegraph)
December may be the last opportunity to enter EHT and altcoins. The specific analysis is as follows: 1. BTC fluctuates, SOL weakens: Recently, BTC has shown a fluctuating consolidation pattern, while SOL has shown signs of cooling off. However, blue-chip coins related to ETH, such as UNI, AAVE, MKR, LINK, CRV, etc., have collectively risen yesterday, indicating that the ETH ecosystem remains the focus of the current market and has received significant momentum in recent weeks. 2. BTC.D continues to decline: The market share of BTC (BTC.D) is continuously decreasing, a trend that has not been seen in the past two years. Currently, BTC.D has fallen below the 61% peak level in November, indicating that the flow of funds in the market is changing, which may suggest that funds are moving towards the altcoin market, further boosting the upward potential of ETH and other coins. 3. ETH's surge attracts follow-up funds: The significant rise of ETH in November attracted a large amount of follow-up capital. If ETH experiences a consolidation in December, this will become the last opportunity for investors to get on board. With the market's adjustment, it is expected that in January 2024, ETH may welcome even more stunning performance, bringing surprises to investors. In conclusion, December may be a critical period for positioning ETH and related altcoins; missing it may lead to missing future upward opportunities.
December 4, 2024. Overnight, the style switched. Influenced by the plunge of Bitcoin to $60,000 on the Korean exchange, funds finally swept into the platform token sector, with BNB breaking its historical high and OKB rising to $63. It's the turn for value investors to hold their heads high. Value coins BNB, ETH, and OKB have broken historical peaks and continue to set new highs, which cannot be compared to old altcoins. Old altcoins lack value support; their past historical peaks may be the ceilings they can only wish for in their lifetime. Now BNB has broken its previous high for the year, OKB only needs to rise 15% to break its historical peak, just a step away.
Altcoins are experiencing a general upward trend, KAIA has risen over 48% in the last 24 hours. On December 3rd, according to market data, altcoins are showing a general upward trend, among which: KAIA 24-hour increase of 48.19%, current price is $0.3814 HBAR 24-hour increase of 45.1%, current price is $0.3456 LINK 24-hour increase of 29.7%, current price is $25.03 SAND 24-hour increase of 26%, current price is $0.8365 ZEC 24-hour increase of 24.1%, current price is $76.44 This news is a positive indication for most friends who are fond of altcoins! However, the market is ever-changing, so caution is still needed when purchasing currencies!
Dogecoin is expected to reach $0.5 in the short term!! BlockBeats news, on December 2, according to Spot On Chain monitoring, the largest holder of the Meme coin DOGE on the Ethereum chain, theunipcs.eth (@doge_eth_gov), spent 121 ETH ($449,000) 12 hours ago to purchase 1.58 million DOGE. This news is very likely to drive Dogecoin to reach $0.5 in the short term. If Dogecoin exceeds $0.5 and can maintain around $0.55, it is very likely to reach $2 next year.
The market for Bitcoin and Ethereum feels a bit strange, like the undercurrents before a storm. Observe more and act less! I've heard that Bitcoin is expected to hit a century peak this month?
BlockBeats news, on December 2, according to 8 Market data, XRP's market capitalization rose to $137.59 billion, surpassing Pinduoduo (market capitalization $137.21 billion), ranking 138th among global mainstream assets. XRP is currently around $2.29. Given the current market situation and social sentiment, a short-term correction is possible, but long-term holding may lead to steady growth. Friends who want to enter the market can wait for a correction to make their move.