From now on, Bitcoin is no longer 'sucking blood' but is starting to 'bleed'. What does this mean? It means that Bitcoin's growth has gradually slowed down, and more money may flow into other cryptocurrencies, especially some altcoins. If you don't blindly chase the rise and only choose those coins that have strong leaders or robust support from major investors, you typically won't lose much.
For example, recently, public chain coins like XTZ and FTM have performed well, as well as some meme coins like WIF and Floki, which have also showed good performance. So, if you want to make big money, the current main battlefield should be meme coins. If you think these coins haven't risen enough yet, that's okay; a short-term explosion of dozens of times is indeed unlikely unless there is a large-scale interest rate cut, which could lead to significant market changes.
Future trends of Bitcoin
Next, what might the trend of Bitcoin look like? In fact, the current trend is very similar to that of 2020. It started rising in October and peaked around November 25, almost doubling. Back in 2020, Bitcoin rose from 10,000 to 20,000; this time, it has risen from 50,000 to 100,000.
However, the last Friday of November every year is 'Black Friday', a shopping festival in the West where many retail investors withdraw their money to spend, leading to capital outflow in the crypto market. Although the total amount of this money is actually not much, many people will anticipate a pullback and sell in advance, which increases the magnitude of the pullback.
Looking back at last year's 'Black Friday' trend, the pullback was 16%. This year's pullback might be slightly smaller, but it's still worth paying attention to the support point around 87,500. If Bitcoin's price can drop to this level, it might be a good time to consider entering. If Bitcoin's price exceeds 90,000, that would also be a decent support level.
In the previous cycle, after Black Friday, Bitcoin's price pulled back but then slowly recovered, and it wasn't until two weeks later that it started to rise significantly. The situation this time might be similar.
Strong performance of Ethereum
Everyone should have noticed that Ethereum has been performing very strongly recently. Large funds have entered the market, and when Bitcoin experienced a sharp drop, ETH remained stable, consolidating sideways. Once Bitcoin warms up, ETH will start to explode. Even if there is a pullback, it's still a good time to enter the market appropriately.
ETH, SOL, and other public chains, along with some smaller cryptocurrencies, can be bought on dips when prices fall. Once the crypto market enters early December, the market is expected to welcome a new wave of upward movement.
Current stage of altcoins
Currently, the performance of altcoins is still in its early stages. Don’t be misled by the rapid rise of some old altcoins; this is just the beginning. Ethereum’s exchange rate is starting to reverse, and ETH ETFs are also beginning to see capital inflows. Next, everyone can look forward to Ethereum's growth; although there may not be any particularly favorable news at the moment, I believe it will come soon.
Once Ethereum experiences a significant rise, altcoins and new coins will start to become active, so everyone can pay attention to this rhythm and seize the right time to buy in.
Future trends and sectors
In the upcoming market, which sectors are worth paying the most attention to? From now until the first quarter of next year, if the U.S. economy does not experience a significant recession, the unemployment rate does not spike, and there are no liquidity crises or other black swan events globally, the overall market environment should be good.
In addition to these macro conditions, there are also some favorable factors. For example, the market after the election might be good, especially since Trump may be inaugurated again on January 20. Based on historical experience, the market usually performs well in the first hundred days after a new president takes office.
For the cryptocurrency market, there may be further easing policies in the future, with expectations of tapering ending, and even possibly more favorable laws and policies regarding cryptocurrencies, all of which could drive the market to continue rising.
Which cryptocurrencies and sectors are worth looking forward to?
In this situation, which cryptocurrencies or sectors are worth paying attention to?
I believe meme coins are definitely a good choice. Especially if Ethereum continues to rise, it may drive the meme coins on the Ethereum chain. The investment opportunities in meme coins are usually related to market speculation, capital inflow, and project narratives, so you need to pay attention to these factors.
Additionally, the reason why Dogecoin has been so popular recently is due to its strong speculation atmosphere, particularly driven by mentions from Musk that boosted market sentiment. Moreover, Dogecoin and similar coins have already gone through a washout, and their liquidity is relatively strong, which is why their prices have performed well now.
Other sectors, such as public chains, artificial intelligence, gaming, etc., may also become investment hotspots in the future. Overall, any investment requires constant attention to market changes, understanding what factors are driving the market up and what might lead to pullbacks, and managing risks accordingly.
