This morning, Bitcoin indeed continued to charge forward, briefly surpassing 98,400 during the session, once again setting a new historical high, with only about 2,000 dollars away from the critical point of 'adding zero' at 100,000 dollars!
Recently, Bitcoin's price has been rising steadily, but the trading volume has not significantly increased.
The shorts clearly have some constraints. Ancient whales and long-term holders have not provided timely and substantial ammunition. During the afternoon closing of Hong Kong and Japanese stocks, the Japanese version of MicroStrategy and Hong Kong's Boya Interactive surged by more than 10%.
Bitcoin is currently in an expansion phase, attracting market liquidity, making it difficult for altcoins to outperform the market. Although many people doubt whether altcoins will usher in prosperity, I believe their peak season is coming soon and suggest waiting for a rotation adjustment opportunity. Currently, I am focusing on some good altcoins.
I specifically waited for the US stock market to open today: currently, the US stock market has opened, and indeed MSTR and SMLR of Dragon 1 and Dragon 2 both opened high, with MSTR rising 10 points and SMLR rising nearly 20 points. The market is too FOMO, which is very obvious from the US Eastern time zone. This week, BTC's ETF continues to FOMO, and now reaching the 100,000 mark is just a step away, especially since ETH, which has always been weak, also saw a significant rise today, with ETH breaking through 3,300, supporting the cryptocurrency market. I can only hope that ETH continues to hold strong; the altcoins can only take off then, and friends can enjoy some profits.
Of course, the Americans are FOMOing, and last night's MSTR expansion plan reignited the market. This is a trend market; when the trend comes, it can at least be maintained. Especially with the FASB approval on the 15th of next month, MSTR's stock price will go crazy, provided that BTC can maintain its upward trend.
The market cannot keep rising indefinitely, so friends should not FOMO too much. If you entered at a very low position, you can look forward to it. If you are considering entering now, I suggest being cautious. If you are thinking of shorting, it might be best to hold off for now, as there is currently no clear bearish trend apparent.
If MSTR and SMLR close with a big rise tonight, it is estimated that tomorrow the Japanese version of MicroStrategy and Hong Kong's Boya will definitely continue to rise, so keep your expectations rational.
Is the altcoin bull officially starting?
It is obvious that the 'regular army' chooses the altcoin markers: leading, US capital, regular army! Since we have analyzed the reasons, it is not difficult to draw conclusions:
1. When will the altcoin season come? It will come when the water rises.
2. Will the altcoin season come? Yes, it will come, as this is determined by the essence of capital and human nature, just like how we missed out on Dragon 1 and chased after Dragon 2.
At this time, it is important to remember one thing: do not let the noise of the market disturb you. Trading is actually very simple. A rise is a good time to sell, and a fall is a good time to buy; it's just about buying low and selling high. Whether there is an altcoin season comes down to understanding the simplest thing: has the money that buys altcoins come in?
It is certain that the Bitcoin rally is taking off, so who is buying Bitcoin? What money is buying Bitcoin? Will this money go to buy altcoins, and who will be buying to boost altcoins? Is the money in place?
The spillover effect of the US stock market has already become apparent... Money has spilled from $MSTR into the long-stagnant mining stocks. One thing to consider is which targets will the money rushing in to buy altcoins, especially the Americans' money, prioritize?
