Currently, Bitcoin's price remains stable above $90,000, and the market may continue to be in a consolidation phase in the short term. It is expected that by the end of November to early December, Bitcoin may fluctuate below $100,000 and may experience some degree of correction.
However, from an overall trend perspective, the market remains in a bull market cycle. In the face of short-term fluctuations, investors need not worry excessively; it is more important to maintain confidence, as the long-term trend is still generally optimistic.
Ethereum (ETH) currently maintains a bullish trend in daily charts, showing a stable growth trend overall. Notably, the total amount of bullish options for ETH has surpassed that of Bitcoin, indicating a continuous increase in market confidence in Ethereum. If this trend continues, it may attract more funds into the Ethereum market. Once the rotation of funds starts, ETH may welcome a significant rise. Therefore, current investors holding Ethereum can continue to be patient, maintain a solid position, and wait for further market developments.
Bitcoin correction! 3 popular altcoins to watch by the end of November!
DOGE
Dogecoin is expected to become one of the mainstream payment currencies, largely thanks to Elon Musk's continued support. As the first MEME coin, Dogecoin's status in the meme cryptocurrency space is akin to Bitcoin's position in the overall cryptocurrency market, hailed as the 'King of MEME.' For investors who have not yet invested in Dogecoin, the market correction may be an ideal entry opportunity.
If Dogecoin's price can break through the key resistance level of $0.5, it will mark its official entry into the 'bull market' phase. Furthermore, the inauguration of former U.S. President Trump may become another driving factor, providing additional support for Dogecoin's target of $1. For investors optimistic about Dogecoin's long-term potential, the current stage may be a golden period for positioning.
PEPE
In the spring of 2023, PEPE quickly rose to fame, with its market capitalization soaring to a peak of $1.6 billion, making many early investors millionaires overnight. This explosive growth ignited the so-called 'meme coin season,' during which other meme-driven cryptocurrencies also experienced significant fluctuations, and market enthusiasm continued to rise.
According to PEPE's roadmap, future plans include listing on major exchanges and promoting the goal of 'meme takeover.' Although there is still uncertainty about future trends, many investors are turning their attention to PEPE, hoping for a breakthrough during the upcoming Bitcoin halving event. The Bitcoin halving is typically seen as a key catalyst for the start of a bull market, which also brings further potential for PEPE to rise.
In the vibrant and unpredictable cryptocurrency market, PEPE has successfully emerged as a highly sought-after coin. Current market analysis shows that PEPE may have five times the room for growth, undoubtedly presenting an opportunity worth closely tracking for investors.
ENS
Recently, the significant rise in the price of Ethereum Name Service (ENS) may convey key signals from the market. On January 3, 2024, Ethereum co-founder Vitalik Buterin voiced on the X platform, reiterating the importance of ENS to Ethereum users, especially in the value within layer 2 (L2) networks. He called for L2 networks to integrate ENS functions more quickly to optimize user experience and further enhance Ethereum's scalability.
The close association of ENS with the Ethereum ecosystem makes it an important component of layer 2 network development. If this trend continues, projects closely related to the Ethereum L2 ecosystem may gain more attention due to ecological expansion, driving a new round of market growth. As an important tool for enhancing the usability of the Ethereum network, ENS may play a more critical role in the wave of L2 popularity.
