Bitcoin's continuous new highs reflect expectations for the Fed's imminent rate cuts, surging from $103,000 to $107,000, and now retreating to $106,500. The speculative index for altcoins has also fallen from a previous high of 90 to 63. Currently, the market situation is that Bitcoin has a very strong draining effect. Historically, before every rate cut, Bitcoin usually rallies first, and then after the cut, it surges even more. If we project this onto Bitcoin, it’s not far from $110,000; in a crazy market, $150,000 could also be seen. After all, the driving force behind BTC now is determined by public companies and large institutions. For example, yesterday, MicroStrategy's CEO spent $1.5 billion to buy 15,350 BTC at an average price of $100,386. This is one reason why BTC has been on an independent draining trend these past few days. Many institutions, including public companies, are willing to buy at this level, even at the cost of raising their average price, which proves they believe that a $100,000 BTC is just the beginning.
After discussing Bitcoin, let's look at Ethereum. Ethereum performed decently today, relatively ignoring Bitcoin's draining effect, maintaining a price above 4000, and even breaking 4107 last night, reaching a new high for the year. However, ETH/BTC remains below 0.038. For altcoins to rotate, this metric can also serve as a reference. A clear performance this week is that the turnover period for ETH has passed, with continued net inflow into ETFs. This means that Wall Street money has been flowing in while seasoned players in the native crypto market have mostly sold off. I remain optimistic about Ethereum breaking new highs. The best strategy right now is to hold steady; in a bull market, a one-sided acceleration of prices, all strategies pale in comparison to just holding. The explosion of altcoins will also come quickly. When Bitcoin rises, Ethereum rises, and when Ethereum rises, altcoins rise; that’s the sequence. Don’t be fooled by how altcoins look weak right now; they will rebound quickly.
The bull market could explode with an increase of 100 times for these 8 major altcoins, making them worth buying!
SOL
Solana, this first-layer blockchain, has seen its price soar dramatically, increasing by over 186% in the past year. Although it slightly dipped in the last 24 hours to $223, people still have high hopes for it. Solana has broken through key price levels, and the derivatives market has become active, with trading volumes surging, showing strong confidence among investors. By January 2025, SOL has significant room for further increases.
ADA
Cardano is the leader of the third-generation blockchain, with a highly efficient proof-of-stake (PoS) mechanism. Over the past year, ADA's price has risen by 77%, now at $1.09, an increase of 2%. At this rate, it is not impossible for ADA to double by January 2025, challenging Ethereum's position.
SUI
Sui is a first-layer blockchain and smart contract platform that performs well in speed, privacy, and accessibility. It is currently quite popular. Sui's digital asset management efficiency is high, attracting significant interest in the DeFi space. As the total locked value (TVL) rises, prices follow suit, now reaching $4.78, indicating strong market confidence. With this momentum, Sui is a formidable competitor in the blockchain investment sector, attracting many investors looking for innovative and reliable solutions in the DeFi ecosystem.
DOGE
This is an established variety that gained popularity with the support of fans and celebrities. Its use cases are increasing, for example, Tesla is using it now. If more people use it in the future, it is not impossible for it to rise to $1 by 2025.
Avax
This coin aims to change the blockchain world with faster transaction speeds and a more environmentally friendly consensus mechanism. Its ecosystem is also very attractive. If the adoption rate and ecosystem grow well, it could see a significant increase by 2025.
XRP
This coin serves as a bridge between traditional finance and blockchain. It has risen significantly recently, and its adoption has increased. If regulation is clarified, its applications will broaden, and it might reach new highs by 2025.
APT
This coin claims to be the 'successor to Solana,' achieving fast transactions and scalability with the Move language. Its ecosystem involves multiple fields and has attracted many developers. If institutional support comes in, it is expected to rise significantly by 2025.
