See original
币姥爷
--
January 9, 2025
Basically, altcoins have been declining all day, but looking at Bitcoin's price, it remains steadily above 90,000. The altcoin market has already reversed from the previous bull market, while Bitcoin's price is still in the high range. This extreme market differentiation has been rarely seen before. It also indicates that making money in the crypto space is becoming increasingly difficult; most altcoins are generally new tokens, and the main players in the older altcoins have already exited, leaving us who are left holding the bag in a tough spot. When buying the dip on altcoins, be careful not to buy too much.
As the market plummets, news has emerged: The U.S. government has been approved to sell 69,000 Bitcoins seized from Silk Road, worth about 6.5 billion USD. This news does not seem to be new; it was released earlier. Referring to the last time the German government sold coins, if they really intended to sell, they would quietly contact market makers rather than loudly announce to the market that they are going to sell, allowing others to dump first.
Therefore, in my view, this is a common tactic used by the bears. Moreover, with Trump about to take office, if you were a high-ranking official in the U.S. government, would you be in a hurry to sell Bitcoin at this critical moment? What is most anticipated next may not be interest rate cuts, but rather favorable policies after Trump takes office. In addition to some promises that have been fulfilled before, Trump is likely to stir things up again. Once the policies turn friendly, there will be many opportunities in the crypto space, and a lot of capital will want to enter the market.
As for the market situation, I judge that after this wave of decline, we have reached a phase low. Bitcoin's daily support is around 90,000, and Ethereum's support is also around 3,200. This position is definitely a good entry point for buying a bit more, especially for swing trading. Of course, any support could be breached, but as long as you have confidence in next year's bull market, you can buy boldly. If betting on a rebound fails, just wait for next year's big bull market.
Thank you for your attention and likes. 点击加入币安聊天群.
Basically, altcoins have been declining all day, but looking at Bitcoin's price, it remains steadily above 90,000. The altcoin market has already reversed from the previous bull market, while Bitcoin's price is still in the high range. This extreme market differentiation has been rarely seen before. It also indicates that making money in the crypto space is becoming increasingly difficult; most altcoins are generally new tokens, and the main players in the older altcoins have already exited, leaving us who are left holding the bag in a tough spot. When buying the dip on altcoins, be careful not to buy too much.
As the market plummets, news has emerged: The U.S. government has been approved to sell 69,000 Bitcoins seized from Silk Road, worth about 6.5 billion USD. This news does not seem to be new; it was released earlier. Referring to the last time the German government sold coins, if they really intended to sell, they would quietly contact market makers rather than loudly announce to the market that they are going to sell, allowing others to dump first.
Therefore, in my view, this is a common tactic used by the bears. Moreover, with Trump about to take office, if you were a high-ranking official in the U.S. government, would you be in a hurry to sell Bitcoin at this critical moment? What is most anticipated next may not be interest rate cuts, but rather favorable policies after Trump takes office. In addition to some promises that have been fulfilled before, Trump is likely to stir things up again. Once the policies turn friendly, there will be many opportunities in the crypto space, and a lot of capital will want to enter the market.
As for the market situation, I judge that after this wave of decline, we have reached a phase low. Bitcoin's daily support is around 90,000, and Ethereum's support is also around 3,200. This position is definitely a good entry point for buying a bit more, especially for swing trading. Of course, any support could be breached, but as long as you have confidence in next year's bull market, you can buy boldly. If betting on a rebound fails, just wait for next year's big bull market.
Thank you for your attention and likes. 点击加入币安聊天群.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Replies 0