When will it be the turn of altcoins to rise?
Bitcoin has reached a new high, but altcoins are generally in a pullback state, especially those on CEX, where nine out of ten are falling.
Although the total market value of the crypto market has surpassed 3.9 trillion, setting a new record, this is mainly due to Bitcoin's contribution, with Bitcoin's market share also exceeding 57.38%. The funding rates on major CEX also do not support altcoins to continue rising, generally below 0.01%. Typically, a funding rate above 0.01% indicates a bullish market, while below indicates a bearish market.
Ethereum has performed better than most altcoins, but the ETH/BTC exchange rate is still declining. However, last week, the inflow of funds into Ethereum ETFs reached $850 million, creating a weekly historical high. This indicates that off-market sentiment towards ETH has improved, and several institutions are predicting that Ethereum will reach an all-time high (ATH) before the end of the year. I also think this is not a big issue, as long as the Ethereum Foundation doesn't create any troubles, the ATH is just a thin barrier.
The trading period for ETH has passed, and this week is the acceleration phase. First, let ETH open up space to rise, and then altcoins will follow suit. The ETH being pumped has become much clearer!
Although Bitcoin currently dominates, many people have lost confidence in altcoins again, but I am very optimistic about the future:
This is just the beginning! From December to March, there will be several waves of good news driving the rise. Don’t be swayed by those bears; every day they are either bearish down to $80k or $70k or predicting a super black swan crash. If you’re so bearish in a bull market, I advise you to withdraw early and stop playing.
In the past two days, altcoins have had a slight adjustment, but after the adjustment, they will continue to rebound. In this case, it is not advisable to chase high-priced coins; instead, look for strong coins that have adjusted for a month or have plummeted, as there are great opportunities.
When it comes to investing, it’s still the same: find what makes you feel at ease, look for the right price point, and ensure there is sufficient cost performance and faith. This is the most suitable method for ordinary people. Cost performance is very important; buying at a price that brings peace of mind allows for patient holding. Don’t let market fluctuations spoil your appetite; if so, it’s unnecessary, as it goes against the essence of investment. Investment should make life happier, not more haggard.
A good buying price makes it easy to take profits when selling. Remember?
