At this stage, although some strong altcoins are beginning to emerge, a crazy altcoin outbreak like in 2021 has not yet arrived. This is mainly because we have just passed the "Bitcoin-led stage" in this cycle, during which BTC's rise absorbed most of the market liquidity. Until Bitcoin's momentum turns, altcoins will not usher in a real rebound. And now, the real opportunity has just begun! We can see that BTC's dominance is moving higher, but it is also beginning to show some signs of turning. When Bitcoin's dominance is broken, the altcoin season will truly begin.
Therefore, although Bitcoin is still adjusting at a high level, the recent general rise in the altcoin market is still a very healthy thing. At present, we need Bitcoin to remain strong to lay the foundation for a sustainable altcoin rebound. The greater the rise of Bitcoin, the stronger the motivation for subsequent capital to turn to altcoins. In the last round of the market, when Bitcoin continued to lead until the end of 2020, altcoins did not really become the focus until after the halving in 2021. If this pattern is replicated, this round of the market may enter a real altcoin season in early 2025. In addition, the minutes of the Federal Reserve meeting released this week showed that more and more officials supported gradual interest rate cuts. This means that if inflation picks up again, the Fed may pause its interest rate cuts.
However, in the current environment of high-pressure interest rates, the probability of inflation rising again is small, so I am not too worried about this. The probability of a rate cut at the next Fed meeting on December 19 is currently 61.3%, but a few weeks ago this probability was over 80%, indicating that the market still has some concerns about the trend of interest rates. However, I am very firm in my expectation of a rate cut in December. If the rate cut is successful, the cryptocurrency market is likely to usher in a new round of rising prices. We can wait and see.
Quickly deploy these 3 popular 100x altcoins!
XRP
This token was mentioned in an earlier article, when the price was around $1.1. XRP has been driven by a lot of good news recently, including XRP ETP/ETF applications and Ripple's launch of a new payment system. XRP's trend remains strong due to positive progress in Ripple's legal dispute with the U.S. Securities and Exchange Commission (SEC). Ripple also received a big boost: it is expected to obtain approval from the New York Department of Financial Services on December 4 to officially issue the stablecoin RLUSD. This news undoubtedly provided a strong impetus for XRP's rise, and market sentiment further heated up.
BONK
BONK is a memecoin based on the Solana blockchain, featuring a Shiba Inu mascot, that aims to empower the Solana community by shifting power from traditional venture capital tokens to community participants. Since its listing on Coinbase, BONK has surged more than 100% in price, becoming the third-largest memecoin by market cap as of mid-December 2023. BONK has successfully promoted widespread adoption and community participation by airdropping 50% of its supply to NFT and DeFi users on Solana. This move not only strengthened its community base, but also increased its influence in the Solana ecosystem. BONK has been successfully integrated into the expanding ecosystem of decentralized applications, especially the decentralized exchange BonkSwap. Despite challenges such as large total supply and memecoin volatility, BONK's rapid growth and active community participation have proven its huge potential. Its strong performance and ecosystem integration make it a worthy choice in the current market cycle.
DOGE
Unlike Bitcoin, Dogecoin has no maximum supply, with 10,000 new coins mined every minute, making it abundant. It was originally considered a "meme coin" but has gained huge value in 2021, entering the top ten cryptocurrencies by market capitalization, with a market value of over $50 billion. Not much to say, from around $0.08 in August, driven by social media attention and recognition from public figures like Elon Musk, it is not far off to break $1 by the end of the year!
