In recent days, Bitcoin has taken the entire market down with it, just like a ruthless meat grinder. As early as December 17, I reminded everyone that the market might have to pull back, and technically it also showed signs of falling, and I advised everyone not to open contracts. Friends who listened to me should have avoided this big drop. So, how will the market go next? Let me briefly talk about my thoughts. If you are interested, please read it. It is only my personal opinion, not an investment advice! !
There are many reasons for this big drop. On the Fed side, Bao said that they cannot buy Bitcoin and do not want to change the law, which poured cold water on the market. Also, those who made money before now want to take out their money and put it in their pockets. In addition, the possibility that those big investors deliberately suppress small retail investors cannot be ruled out. But to be honest, although the drop this time was fierce, it fell from 108,000 to 92,280, which is less than 15%, which is still good. Many altcoins have been cut in half, such as Dogecoin $DOGE, which fell from 0.48 to 0.262. That's miserable, a drop of 45%! Think about the last callback, Bitcoin fell from 73,777 to 49,000, that was a thrilling drop, and the magnitude was scary.
Right now, Bitcoin seems to have stabilized a bit, bouncing back to around 97,000. I estimate that over the weekend, the market will oscillate around this level and consolidate. This is not a time to make random moves, but if you feel the price is right, buying some spot to hold could be a good choice.
$BNB has also fallen significantly, dropping from a high of 793 to around 620, a decline of about 21%. However, as a mainstream coin, it has shown some resilience. If you are good at spot quantitative trading, this is a time to make some back-and-forth trades, and you might even earn a bit.
Ethereum $ETH has had a rough time, dropping to around 3100 at its lowest, with a decline of nearly 25%. After this rebound, it's time to adjust strategies. Fortunately, some institutional ETFs are buying; otherwise, we wouldn't know how low it would go.
Back to today's daily $BTC market analysis, looking at the K-line, the 1-hour level shows an upward trend (momentum is insufficient and about to consolidate), the 4-hour level is up, the 12-hour level is down, and the daily level is down. The intraday resistance level is 100,000, with a support level at 94,000 dollars.
5 cryptocurrencies to watch for the next bull market outbreak!!!
Polkadot (DOT)
Polkadot is a new cryptocurrency designed to connect different blockchains. It was created by Gavin Wood, who also helped create Ethereum, allowing data and value to move between networks like Ethereum and Bitcoin without intermediaries. This means that blockchains can work together, making everything faster and more efficient. Polkadot uses 'parachains' to speed up transactions and handle more transactions simultaneously. In fact, it can process more transactions than Bitcoin and Ethereum currently can. The DOT token is not just money; it is also a way for holders to influence the development and changes of the network.
Currently, Polkadot looks promising in the cryptocurrency market. Its technology solves major issues by allowing blockchains to communicate with each other. As more projects seek connectivity, Polkadot's role becomes increasingly vital. Compared to other coins, the practical applications offered by DOT extend beyond just trading. Despite the unpredictable market, Polkadot's strong team and unique approach help it stand out. For anyone interested in the future of blockchain, Polkadot is a project worth watching.
Kaspa (KAS)
Kaspa is a new cryptocurrency that stands out due to its unique approach to blockchain technology. Unlike traditional blockchains that can become slow and overloaded, Kaspa uses a protocol called GHOSTDAG. This means it does not discard blocks created at the same time; instead, it includes all of them and organizes them in a meaningful way. This allows Kaspa to process transactions faster—currently aiming for one block per second, with a goal of ten or even one hundred per second. The innovative design aims to reduce wait times to nearly zero, so transactions can be confirmed almost as soon as the internet connection allows.
With features like fast transaction times and further improvement plans, Kaspa positions itself as a powerful player in the cryptocurrency world. Compared to other less scalable tokens, Kaspa's technology can give it an advantage. Today's market is always looking for cryptocurrencies that can solve real-world problems, and Kaspa's focus on speed and efficiency aligns with this trend. Although the cryptocurrency market can be unpredictable, Kaspa's unique approach may make it an interesting option to watch as the market evolves.
Dogecoin (DOGE)
Dogecoin (DOGE) is a cryptocurrency launched in 2013 as a fun alternative to traditional coins, symbolized by the Shiba Inu from the 'Doge' meme. Unlike Bitcoin's limited supply, Dogecoin has no cap, with 10,000 new coins mined every minute. Initially seen as a 'meme coin', it surged in value in 2021, becoming one of the top ten cryptocurrencies by market cap, valued at over $50 billion. This rise was influenced by social media and figures like Elon Musk. Dogecoin's potential lies in its strong community and widespread recognition. In the current market cycle, it continues to attract attention due to its unique origins and active supporter base.
Ripple (XRP)
XRP is a digital currency running on the XRP ledger. It is designed to be fast, low-cost, and borderless. Transactions are secure, irreversible, and do not require a bank account for settlement. XRP was created by Jed McCaleb, Arthur Britto, and David Schwartz, with an initial supply of 100 billion units. The company associated with XRP, Ripple, received 80 billion units to support its development. Ripple uses XRP to enhance network liquidity and has held 55 billion XRP to control supply. The name XRP comes from 'Ripple Credit', emphasizing its goal of facilitating seamless cross-currency payments. The technology behind XRP shows potential for improving global financial transactions.
Binance Coin (BNB)
As the Binance ecosystem continues to develop and adapt, BNB's potential remains strong. The current price of BNB is $711.86, benefiting from its integration with various aspects of Binance's operations, including trading fee discounts, staking opportunities, and DeFi applications on Binance Smart Chain (BSC). Even with market dynamics fluctuating, its role as a utility token can ensure sustained demand.
Looking ahead, the token burn mechanism will bring a deflationary effect to BNB over time, potentially increasing its value. Additionally, BNB's utility in facilitating cross-chain interactions and supporting new projects on Binance Launchpad keeps it relevant. While its utility is undeniable, broader competition from emerging platforms like BlockDAG may challenge its dominance as the top-performing utility token in 2025. Currently, BNB's potential continues to attract the attention of users and developers.
The crypto space has always been a process of survival of the fittest! 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 shortcomings. The greatest fairness in this world is that when a person's wealth exceeds their understanding, society will find 100 ways to harvest you!
Until your understanding and wealth align. Waiting for a bull market is the most trying!
But when the wait is over, you'll understand what it means to go from hardship to joy. Everyone must hold on, as tough days are about to end, and a raging bull market is on the horizon!
If you are struggling to find direction in the crypto space! Or if you have been consistently losing money! You can follow me.
