December 2, 2024
The overall market continues to rise, with Bitcoin stabilizing above 90,000, giving more confidence to funds. The strong performance of the old mainstream sectors represents the attitude of established capital in the crypto space. XRP surged today, indicating that funds have not retreated. Based on the market indicators, the altcoin season is about to start, with FIL being a typical representative of altcoins, which has more than doubled from its relative bottom. Additionally, the NFT sector has recently started to rise strongly. Although I haven't participated in NFTs and am not very optimistic, it is undeniable that there are many big names outside the crypto circle involved in NFTs, with football and film stars getting involved. It is also one of the few applications breaking out of the crypto circle, and the financial strength is still solid.
Whether it's the FIL or NFT sector, funds have been silent for a very long time, and at the lows, there has been various FUD, especially in the NFT sector, where those who bought monkeys, penguins, etc. have lost so much that even their parents don't recognize them. If this sector can be revived, it can only be said that various funds are gradually recovering, which can also be seen as a signal that the market is entering the altcoin season. I mentioned earlier that the market is about one-third in, which could mean roughly two months based on time. In terms of rhythm, once the altcoins finish their run, the market will definitely be more than half, but altcoin markets often last longer, and once there are new plays, they will bring new hot sectors, so there will continue to be an upward trend.
I won't recommend specific altcoins, but I will mention them when I come across suitable ones. However, I want to give everyone a warning first; the risks of altcoins are indeed higher, and when operating with altcoins, stricter position management is necessary. Never think of investing heavily in one altcoin; this investment strategy is not good. Recently, many people should have seen a lot of recommendations for altcoins in Binance Square and other places, and even those boasting about how much they made in altcoins. I believe we should view this rationally. Historically, many people who made money in Bitcoin, Ethereum, and mainstream assets easily lose money in altcoins, especially those who buy at high positions will suffer greatly.
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