Bitcoin has reached $98,000, just one step away from $100,000. Since the U.S. election ended, Bitcoin has cumulatively risen over 40%.
The more Bitcoin rises, the more people talk about a major correction. It should be noted that some 'aggressive' overseas institutions have given Bitcoin a target price as high as $125,000. The head of asset research at Standard Chartered openly stated that Bitcoin could reach $200,000 by the end of 2025.
Today! Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), plans to resign on January 20, 2025, after facing strong backlash from Wall Street and the cryptocurrency industry regarding his ambitious agenda during his term. Afterward, the SEC will be chaired in an acting capacity by either Republican Mark Uyeda or Hester Peirce, and the new SEC chairman may adopt a more friendly regulatory stance towards cryptocurrencies.
Possible market movements next:
From BTC's perspective, the daily RSI indicator is oversold, the daily MACD shows no significant divergence, and the slope of the moving average is very high.
There is a demand for adjustment, which can be divided into lateral and vertical or a combination of both.
However, it should be noted that Bitcoin is now approaching $100,000 per coin. A 10% fluctuation means $10,000, and in the crypto space, a 10% fluctuation can only be considered lateral adjustment.
What I have been emphasizing lately is that once a trend is formed, it is difficult to change easily; this is also the reason why I haven't hedged or shorted. Shorting in a trend is equivalent to trying to catch a peak, akin to constantly bottom-fishing on the left side, which is a very low-cost performance activity, so I choose to be desensitized in the short term. The destruction of the trend also needs to be gradual, so there is no rush.
According to historical patterns, when Bitcoin rises to a certain extent and consolidates, it is the happiest moment for the crypto space.
First, a smooth transition and capital transfer, Bitcoin undergoes lateral adjustment (10%), capital shifts to the altcoin market, with large-cap leading, and then the water flows through step by step. Currently, we can see that the long-time second place $ETH and the stagnant $BNB have already shown some signs of movement.
Second, Bitcoin spikes by 20%, then rises by 10%, either consolidates or steadily climbs, with altcoins starting violently.
Third, in a bull market, find several different threads of altcoins, sell the ones that rise the most, and buy the ones that fall the most, rather than doing the opposite.
Today let's talk about ACT
In ACT, there are hot coins being pushed, these coins have large fluctuations, which fits my style of trading in waves, let's analyze. 30F - T0, it has gone through a period of consolidation and decline, the midpoint forms a running pattern, with no divergence, and the end grows nine non-level midpoints, and it is still operating within the midpoint. 5F, no divergence in this level's decline, no divergence in higher levels, no signs of bullish emergence, no buying point. Trading advice: Wait and see. For this kind of hot new coin, either wait for it to drop thoroughly or wait for bullish emergence; left-sided flying knives are the most taboo, too easy to get buried.
Memes fall, all coins rise
This title is also the answer to a question I have been thinking about for the past few days. I thought about it, and although it might offend some people, I still want to post it. (If you disagree, you can scold me, I can't argue back anyway.)
MEME is on fire! A popular meme in the market: Why is Bitcoin rising so much? Is it going to Binance? Although it is a meme, it reflects the current state of the market, as it seems that MEME has become the only path to wealth in the crypto space.
After peaking in March, Bitcoin has been fluctuating sideways for 8 months, frustrating countless participants. The entire crypto space has become stagnant, with altcoins trapping batch after batch of brave bottom-fishers. Bitcoin has brought about a non-sovereign currency to counter the unlimited issuance of fiat currency, and Ethereum has brought smart contracts; even EOS back then was promoting itself as Blockchain 3.0.
What has MEME brought? On-chain PVP? Daily 10x golden dogs, 100x big golden dogs? Then when we are building outside the circle, we can proudly tell outsiders: 'Come on, let's bet on dogs, there's a chance to get rich every day!' Does that sound a bit foolish?
On the surface, it seems that MEME has taken the life of VC, just like GME exploded Wall Street's big shorts back in the day. A victory for retail investors! It sounds thrilling, but if there is no capital pushing behind it, will there still be a victory for retail investors?
Behind the extreme PVP is the game and self-hype of existing funds. If it is really the 'so-called MEME supercycle,' then perhaps in the next round, or maybe just this round, the only thing left in the crypto space will be Bitcoin. At that time, Bitcoin is highly likely to have nothing to do with the crypto space, it may sink to become just another stock in the U.S. stock market, or it may continue to fulfill its great mission against fiat currency, but only Bitcoin will remain. The MEME supercycle will ultimately complete its mission, which is to drive out bad coins with good coins, taking the entire crypto space with it.
Value coins will still tell stories, while MEME is direct like a casino, directly betting money and directly gambling on ups and downs, which is too direct, ripping off the disguise, losing the aesthetic. Funds may temporarily abandon the pursuit of aesthetics for the thrill, but when the climax subsides, only things with aesthetics, depth, and stories are long-term solutions.
A few questions:
1. How difficult is it to get into on-chain PVP? Is this where the incremental entry point of the crypto space lies?
2. If the trend is heading on-chain, is it just about fighting dogs on-chain?
3. Has everyone really made money playing MEME? Or are just a small group of people using survivor bias's wealth stories to stir everyone's emotions? Capital is not evil; capital merely seeks profit. Technically, it has been confirmed that Bitcoin has opened a new round of upward trend.
Perhaps many blockchain builders have been silently working hard in the corners, innovating quietly; only their voices are too small, temporarily drowned out by the colorful wealth of MEME.
Is there still a future in the crypto space? Trend rises, Bitcoin consolidates, memes fall, all coins rise!
Newbies should pay more attention! I talked about this round of market earlier!
Things you need to pay attention to, simply put, are 4 points:
First Position Management
Second Your Mindset
Third Choose a Suitable Advisory Style
Fourth Look Less at Chicken Soup and More at Reviews, Be Responsible for Your Account!
BTC is the cornerstone of everything, SOL and ETH are its little brothers! No matter what, take good care of the boss! The little brothers can only be happy.
