Different phases of the bull market are often accompanied by different market dynamics and performances of various coins!
Phase one of the bull market: BTC drives itself.
Bitcoin (BTC) will exert its own strength, leading the market upwards. In this phase, BTC's strong performance will boost the entire market's confidence, attracting a large influx of capital.
Phase two of the bull market: Public chains rally.
Public chains begin to exert their strength and become the leading force in the market. As the infrastructure of blockchain technology, public chains are widely recognized for their stability and scalability, providing support for various applications.
Phase three of the bull market: Altcoins rally.
As the market continues to thrive, cryptocurrency projects with unique technologies and use cases are gaining market recognition, marking the phase of altcoins rallying. This phase is characterized by an exceptionally active market atmosphere, where many altcoins have the opportunity for explosive growth.
In the past 24 hours, nearly $500 million has been liquidated across the network, with over 190,000 people liquidated.
In the downward trend of Bitcoin, according to Coinglass data, the total liquidation amount of cryptocurrencies in the past 24 hours reached $495 million, with long positions liquidating $364 million in bulk, and short positions liquidating $131 million, affecting over 193,000 people.
Cashing out at the top is far more meaningful than buying at the bottom.
Unknowingly, BTC has reached $100,000. Let’s not talk about the continuous growth since the end of 2023. Since the black swan incident at the beginning of August, Bitcoin dropped to over $40,000, and at that time, everyone started to turn bearish for the second half of the year. My insistence on the Bitcoin bull market cycle has always been my guiding principle and has never changed.
Now the bull market has entered its final phase. Altcoins are bound to have several months of significant market activity. This is a reward for those who hold firm but remains until the end. Those who have not been shaken out over the past few months are the victors. Friends who have persisted until now can give a thumbs-up!
Bull markets often experience sharp declines. In historical Bitcoin bull markets, it’s normal to see drops of 30%-40% during the process. If it drops from $100,000, a 30% correction would bring it down to $70,000, and a 40% correction to $60,000. (This is just an example and does not mean it must drop from $100,000. It can also rise first and then drop.)
Get ready for the altcoin season!
1️⃣ Recently, many coins have begun to rotate, such as ADA and Doge, which have rallied significantly without much correction, continuously breaking new highs.
2️⃣ The market share of Bitcoin is already at a high level, and the price is not low, so many people will gradually switch their profits from Bitcoin to relatively low-priced altcoins, as I have done myself.
3️⃣ The market sentiment is quite good recently, with violent rallies in KSM, Sand, and others over the weekend, creating emotional value. Of course, this kind of rally I understand is driven by exchanges, not necessarily by whales.
4️⃣ From a cyclical perspective, the craziest 5 months of the bull market are here. If altcoins don’t move now, they will miss this cycle.
5️⃣ Bitcoin is currently at $98,000 and hasn't ignited the market yet, but the impact of the $100,000 mark is different; media coverage will be more intense, and newcomers entering the market, finding Bitcoin too expensive, will only buy altcoins.
In the later stages of the bull market, market sentiment is very important! Rallies will make people more FOMO!
Let me share some good news with everyone.
FTX will launch a restructuring plan at the beginning of next year, which has been confirmed, and is expected to begin distributing compensation of about $16.5 billion to previous users. This means that these compensations will be directly paid to small investors. What will happen when small investors holding these compensations are in the bull market?
The market will welcome a wave of liquidity belonging to old users of the cryptocurrency circle, so don't be afraid of corrections, as cleaning up positions also gives us a chance to get in.
The cryptocurrency circle has always been a process of survival of the fittest, where the strong survive and the weak are eliminated! If you don't want to be eliminated, you must make changes!
Every penny you earn is a realization of your understanding of this world; every penny you lose is due to your cognitive deficiencies. The greatest fairness in this world is that when a person's wealth exceeds their understanding, this society will have 100 ways to harvest you! Until your understanding and wealth match.
Waiting for a bull market is the most exhausting!
But if we wait for it, we will know what it means to go from suffering to joy. Everyone must not leave the market; the hard days are about to end, and a violent bull market is coming!
