About Bitcoin and the Current Market Landscape: Five Key Points, How Much Do You Know?
The crypto market bull run is still gaining momentum, and you need to be aware of the following 5 key points:
1. Key Position: Due to immense selling pressure, Bitcoin faces strong resistance at the $100,000 mark, which is a psychological barrier for many.
However, once this point is broken, it opens up an upward channel to $102,000 and even $120,000. We have seen that Micheal Saylor and others have purchased an additional $5 billion worth of BTC.
2. Bull Market Outlook: Historical indicators, based on the Pi top indicator, suggest that we are still in the early stages of a bull market, with another 300-400 days of upward movement before a bear market begins.
3. Altcoin Season: Bitcoin's dominance is starting to decline, signaling the beginning of a rebound for altcoins.
Ethereum and other large market cap coins have already shown bullish signs and are about to rise significantly.
4. The $ETH/$BTC chart has maintained good support, indicating that $ETH will soon surpass $BTC, triggering further gains for more altcoins.
5. Retail Investors: As more and more people talk about Bitcoin and altcoins, interest in cryptocurrencies is skyrocketing. Retail FOMO is forming, and we are entering the euphoric phase of the cycle.
