$BTC went straight to the 65,000 pressure point without any correction. The current situation is that the rebound exceeded subjective expectations. The next observation point is the previous high of 66,498. If it breaks through here, the next round of rising market will start! From the initial 60,000, the increase is 6%. In the absence of black swans, it supports the rise. Just wait quietly for the rise.
The next focus should be on the cottage market. If the big cake can rise sharply and boost sentiment, we will be ready to choose the right time to do the second wave of cottage market.
From a macro perspective, there are three data points this week:
1. One is the speech by Federal Reserve Board Governor Waller on the economic outlook at 3:00 a.m. on the 15th.
2. One is the speech by Federal Reserve Board Governor Kugler at 1:00 a.m. on the 16th.
3. The last one is the release of non-farm employment data at 20:30 on the evening of the 17th.
There are still 24 days left before the Federal Reserve's interest rate meeting. Judging from the current data, the probability of the Federal Reserve cutting interest rates by 25 basis points in November is 88.5%. There is a high probability that there will be two more interest rate cuts this year, which is good for the cryptocurrency circle. It is only a matter of time before Bitcoin breaks through 75,000 and sets a new historical high.
Everybody cheer up, no matter if you are making a profit now, those who are profitable will not cash out, it is just a string of numbers. Don't worry about the losses, you will earn it back many times in the future.
This is a chart showing the market value share of Bitcoin since the market bottomed out in December 2022.
It can be clearly seen that it is a steady upward trend, which is enough to show whether the current cryptocurrency market is a bull market or a bear market.
In the past three bull markets in the cryptocurrency market, Bitcoin’s market value has steadily accounted for more than 70% of the market share.
This is also a data worthy of reference for judging the general trend.
When will the altcoins explode? It may be when Bitcoin breaks through a new high and Bitcoin's market capitalization stagnates, and the capital bubble will overflow.
At that time, everyone will be able to see that the value of altcoins will double in a week and increase tenfold in a month.
Currently, Bitcoin accounts for 55.81% of the market value, and it is likely to continue to break through. The next two major barriers are 60% and 70%. If it can reach 70%, remember to just pay attention to altcoins!
In the heavily invested MEME field, BOME is like an eagle spreading its wings and soaring into the sky again.
At the same time, WLD and ARKM in the AI sector also showed strong momentum and continued to rise in recent days.
Next, we just need to wait for the big cake to take effect. Once it starts, ORDI and SATS in the big cake ecosystem will follow closely and share the joy of the harvest.
Lao Chen is optimistic about these tokens with unlimited potential:
► $SAGA
Market value: $324 million
24-hour volume: $121 million
Cosmos has launched a new coin, SAGA is the representative of the future, INJ TIA and SAGA are next, with a target of more than 10 times, strong fundamental applications, and technical and chip layout of large investors.
Saga is a Layer 1 infrastructure that originally focused on gaming infrastructure and has recently moved into the modular field. It uses inter-chain staking technology similar to Cosmos Hub, allowing developers to create and launch interoperable dedicated chains "Chainlets" on it. These chains can be flexibly expanded according to the needs of different Web3 applications, greatly reducing the time and money costs of development.
► $WLD
Market value: $1.227 billion
24-hour volume: $360 million
It’s about to start. Many people criticize this coin, but it will rise when it’s time.
In the last round, the price increased tenfold from 1 to 10, which was considered good. So this round will most likely also have a good increase, for example, from 2 to 16, which is also possible.
WLD is hiding in a small exchange and secretly accumulating funds, and it will explode by the end of the month at the latest.
Although MEME coins are mainstream, institutional coins will still rise.
► $PEOPLE
Market value: $429 million
24-hour volume: $157 million
Election hot coins! The election on November 5th has not yet started to hype. According to current data, Trump has won 5 out of 7 swing states.
According to the practice of previous years, it is basically stable. Trump once said that he wanted to make the people great again!
The people market is currently only one 10CM big positive line breakthrough away from establishing the trend start! Everything is ready, only this magic needle is missing! I believe it will come soon!
