The recent trend of Bitcoin is also very strong. It has currently reached a high of 69,000. It continues to set new highs, which is a good thing. Ethereum touched the downward trend line yesterday, reaching a high of 2,675. Therefore, we will focus on the breakthrough and stabilization of this high point. Once it breaks through the downward trend line and then breaks through the ice line near 2,800 points, the altcoin will usher in a wave of definite trend. At present, we will take one step at a time. Before the breakthrough, we will still build positions on the left side. Therefore, we can go up or down. Once it breaks through and stabilizes at 2,800 points, it will be time to give it a try!
Next month, the Ethereum Developer Conference will be held in Thailand. The preparatory action to solve the traffic problem is to allow more technical developers to return to this most reliable POS public chain. Combined with the market conditions, we are optimistic about a wave of compensatory growth.
Bitcoin has been trying to hit the 70,000 level for several consecutive days. Will it break through over the weekend? It’s just a matter of time.
The probability is not high, because the main funds need to rest on weekends. Everyone cherishes every weekend before the bull market comes, because the following weekends may face a stormy market. By then, the adrenaline will be full and everyone will have no time to enjoy the weekend.
Everyone should have a good rest this weekend. After all, there are less than two weeks left in this month. Judging from the situation of the election, Trump is once again in the lead, which is good news for the cryptocurrency circle.
In fact, no matter who is elected, it will have little impact on the cryptocurrency circle. After all, Bitcoin and Ethereum are now legal ETF products, and will not have any impact on the major bull market.
It’s just that Trump’s election will make the market violent, while Harris’s will make the market gentle and smooth. As an investor, if you want to get the most profit, please hold on to your chips.
There is a high probability that there will be certain opportunities for copycat trading on weekends, so if the varieties you hold do not rise, perhaps they are on the way to rotation, so just hold on to your positions patiently!
The recent election heat seems to be getting closer and closer to the trend of US stocks and Bitcoin. This is what I emphasized before: the election is very important! It represents the expectations for the next period of time. The chart only has four days of data.
Look at the picture below. The white line is the probability of Trump winning the election, and the blue line is the price of Bitcoin. The lower part shows the correlation between them. In June and July, the two lines almost went hand in hand.
But in September, the relationship faded and became less relevant. However, starting from October 13, the two lines suddenly became closely related again, and this change can only be seen in the data of four days.
The two lines started to become clearly connected after Trump was assassinated in late June and announced that he would attend the Big Pie convention in late July. He later gave a pro-Big Pie speech at the convention on July 27, and the correlation between the two lines has remained high since then.
If Trump does well in the November election, Bitcoin may have a good chance, but altcoins may not.
If the election expectations have been priced in in advance, then the event will be bearish, so pay attention to the timing of entry and exit
Currently, Trump is more likely to be elected, Musk publicly supports it, and DOGE has also performed well recently! Before the election results are announced, there is an expectation that DOGE will continue to be hyped.
The current market has entered a small rotation start-up state, starting from sui to artificial intelligence, and then to doge. The following sectors have also risen slightly, and they cannot play a big leading role. Take doge as an example. This position also makes it have nearly 30% space to operate. This cannot achieve the effect of a bull market. Be more patient, it will be soon.
When does the copycat season come?
First of all, the answer is that the copycat season will not come in the short term. The current daily fluctuation of 10% is nothing compared to the crazy bull copycat season.
Why won’t it come? Because in the bull market, Bitcoin is in the main uptrend, and Bitcoin is a blood-sucking market. Let’s look at the previous two bull markets.
All the funds went to Bitcoin to pull up the market. When the main uptrend ends, Bitcoin's dominance will fall rapidly, and that's when the overflow funds will go to the altcoins to push up the market.
There are two strategies for participation. One is to follow the market capital rotation, play Bitcoin first, and then play Shanzhai. The other is to stock up on high-quality Shanzhai now. If you can bear the loneliness, the increase will be much higher than Bitcoin. The disadvantage is that the process is painful and there is no optimal use of funds. The advantage is that you don’t have to worry about building a position at a relatively low position.
(I plan to ambush some low-market-cap coins with good news in the near future to help everyone recover. The current market situation is not stable. I will take 30% in the short term. The next password will be announced soon!!)
