Yesterday in the crypto world, we mainly watched Bitcoin's movements. Bitcoin exhibited a bloodsucking consolidation to maintain a high level, while most mainstream trends were weaker than Bitcoin. Bitcoin approached the previous high by about 1500 dollars, feeling like it could break the new high at any moment. Sure enough, it broke this morning, but the expected short-term growth after breaking high may be limited; it still needs to consolidate and solidify. This article is just a personal review and does not constitute any investment advice.
Bitcoin is predicted to consolidate around 105,000, with the daily chart continuing to rise and break new highs, but it shouldn't deviate too much from previous highs, or there should be a major correction before the 27th. $BNB is expected to fluctuate between 700 and 740; yesterday was generally weak. A breakout will require consolidation time after Bitcoin breaks through, especially since the recent airdrops haven't lifted it much, and there might be a slight drop after the airdrop ends. Ethereum $ETH's institutional accumulation can still be expected, suitable for buying on dips, especially once Bitcoin breaks new highs, there will be more growth potential.
Let's talk about today's daily $BTC market analysis. From the candlestick chart, the 1-hour level is bullish, the 4-hour level is bullish, the 12-hour level is bullish, and the daily level is bullish. The intraday resistance is at 107,500, and the support is at 103,000 dollars. Overall, if Bitcoin breaks above, but there is no volume, the increase after the break may not be significant, and there could be a major correction. At that point, don’t open contracts recklessly to avoid being harvested.
5 cryptocurrencies that are worth paying attention to with the potential for 100x returns!
PEPE: A deflationary meme coin inspired by Pepe the Frog
PEPE is a deflationary meme coin inspired by the Pepe the Frog meme from the early 2000s. It was launched on Ethereum, following coins like Shiba Inu and Dogecoin. PEPE has no transaction tax and maintains its meme identity without utility. By mid-2023, its market cap reached 1.6 billion dollars, sparking interest in the cryptocurrency world. The roadmap aims to increase visibility through social media trends and exchange listings. It uses a burn mechanism to enhance scarcity and reward long-term holders. As an ERC-20 token, it benefits from Ethereum's security. PEPE is available on major exchanges such as Uniswap and Binance. Its deflationary model and strong community may make it attractive in the current market.
Solana's SOL: A fast blockchain for decentralized applications
Solana is a blockchain platform designed for high-speed trading and scalability, providing a foundation for decentralized applications. Its native currency, SOL, is central to its ecosystem, used for transactions, running custom programs, and rewarding network participants. What sets Solana apart is its focus on processing a large number of transactions per second without relying on sharding or second-layer solutions. This approach aims to attract developers and users seeking fast and efficient decentralized services. SOL and the Solana platform emphasize speed and flexibility across programming languages, demonstrating potential in supporting highly active products and services in the current market.
BONK: Shiba Inu Memecoin of Solana empowering the community
BONK is a meme coin based on Solana, featuring a Shiba Inu mascot, aimed at empowering the Solana community by redistributing the power of venture capital tokens. It surged over 100% after being listed on Coinbase and airdropped 50% of its supply to participants in Solana's NFT and DeFi space as a 'community token'. As of mid-December 2023, BONK became the third-largest memecoin by market cap, with a year-to-date increase of over 10,000%. Despite facing challenges such as high total supply and meme coin volatility, BONK has integrated into the evolving Solana ecosystem (including the launch of the decentralized exchange BonkSwap), making it a compelling player. The token appears attractive in the current market cycle.
TRON (TRX): A decentralized platform empowering content creators
TRON (TRX) is a blockchain platform launched by the Tron Foundation in 2017. It aims to empower digital content creators by allowing them to share content directly with consumers, giving them full ownership. TRX was initially deployed as an ERC-20 token on Ethereum and migrated to its own network in 2018. The platform supports smart contracts and decentralized applications (dApps), enabling developers to build and deploy their projects. TRON adopts a transaction model similar to Bitcoin's UTXO, with transaction records on a public ledger. By eliminating intermediaries like YouTube or Apple, Tron seeks to reward content creators more fairly. Its focus on decentralization and direct content sharing continues to attract attention in the evolving market.
Cardano (ADA)
Due to its emphasis on scalability and sustainability, Cardano (ADA) has been rated as a reliable blockchain project. Nevertheless, even with significant progress, its adoption rate may be slower. The scalability potential of the Cardano blockchain is limited, as its smart contracts and decentralized applications have not yet gained widespread use. ADA's market cap is close to 10 billion dollars, with a price of 1.01 dollars, but due to its low adoption rate, the price is expected to remain relatively high in the short term. Although it may reach 2.00 dollars by 2025, its growth potential is lower than that of Rexas Finance, which aims to leverage tokenization technology to expand into larger markets.
The crypto world has always been a process of survival of the fittest! If you want to avoid being eliminated, you must make changes!
Every penny you earn is a realization of your understanding of the world; every penny you lose is due to your cognitive deficiencies. The greatest fairness in this world is that when a person's wealth exceeds their understanding, there are 100 ways for society to harvest you!
Until your understanding and wealth match each other. Waiting for a bull market is the most exhausting!
But once it arrives, you'll know what it means to endure hardship before enjoying the sweet rewards. Everyone must stay in the market; the tough days are about to end, and a raging bull market is on the way!
