LIVEWhere has the bull market gone now? Is there still a chance for copycats?
The current market conditions are being influenced by factors such as Bitcoin, ETF funds, narratives surrounding interest rates, Bitcoin halving, and emotional sentiment. Despite the uncertainty, certain support levels for Bitcoin are identified at 62,000U and 59,000U. The market is considered to be in a resting stage within the larger bull market cycle.
Regarding copycat investments, funds are flowing in and out of Bitcoin and into alternative cryptocurrencies with positive expectations. The longevity of these alternative markets depends on the strength of their narratives. However, the overall copycat market is expected to remain subdued until the end of the bull market.
Looking ahead, Ethereum is anticipated to become the market leader in the second half, driven by factors such as ETF expectations, interest rate cuts, and technological upgrades like the Prague upgrade. This upgrade is expected to enhance Ethereum's staking and user usage, driving its price performance.
The narrative surrounding Ethereum's upgrades is highlighted, emphasizing the importance of upcoming technological advancements. Specific currencies related to Ethereum, such as SSV, ETHFI, and others, are mentioned as potential investment opportunities.