After ZKsync went online yesterday, the market situation became extremely bad and many altcoins plummeted.

I just took a look at the market and found that the prices of many currencies have returned to the levels before the rise in April this year or even in October last year. The current market situation shows that it is in a deep wash-out stage.

The reasons for this bull market that have nothing to do with altcoins are as follows:

1. The approval of ETFs has changed the capital flow path in the market. Traditionally, incremental funds usually enter the market through the path of "stablecoins - BTC, ETH - altcoins". However, now incremental funds from traditional markets prefer to invest directly in BTC through ETFs, which has led to the obstruction of capital transmission and the lack of liquidity in the altcoin market.

Second, the continuous large-scale unlocking of "VC tokens" continues to put pressure on the market, forming a market situation of "supply exceeding demand". Observing the circulation changes of some altcoins, although the prices continue to fall, the circulation market value continues to rise.

3. New projects with sky-high opening prices continue to consume the market’s liquidity reserves. High-profile projects such as io.net, ZKsync, LayerZero, and Blast have been launched one after another, and their global first-day valuations generally reached billions of dollars, further weakening the liquidity of the altcoin market.

Is the bull market still there? Of course it is. What’s next?

Historically, there are many cases of 50% correction in bull markets. After that, the sideways period is generally 2 to 4 months, and the explosive period is generally 1 to 2 months, and the increase is about 5 times. Now it has been in the bottom range for 2 months, and perhaps the most difficult time is about to pass, so hold on to your spot!

Now, many altcoins have fallen back to the bottom. It is meaningless to sell at a loss at this time. As for the expectation of interest rate cuts, there will definitely be at least one in the second half of this year. Because of the election, the probability of a rate cut in November is very high. The Ethereum ETF will also be approved in the second half of the year, which is also a long-term positive. The US election will be held at the end of the year, and there may be 3 to 4 interest rate cuts next year, so the third quarter is a good time to invest.

It is expected that it is the most difficult to make money in this bull market, but it is better to say that the real bull market has not come at all. As time goes by, I think the market will reach a certain consensus, and then through this consensus, funds from outside the circle will continue to flow in, and eventually the crypto bubble will be born. The consensus I am talking about is a unified innovative way of playing, such as RWA, meme, AI, etc. In short, the consensus and market we expect have not yet arrived, and we can only wait patiently.

The 7 stocks that are most worth holding after the decline will have a 50% or more return in the future.

BTC: BTC is the leader in the cryptocurrency market, with the highest market capitalization and the greatest market influence.

ETH: ETH is the basic platform for smart contracts and decentralized applications (dApps), and its network effect is extremely strong.

SOL: Solana is known for its high throughput and low latency, making it suitable for high-frequency trading and complex applications.

BNB: As the native token of Binance exchange, BNB has multiple uses in transaction fee discounts, IEO participation, and other platform services.

BGB: As the native token of Bitget exchange, BGB plays an important role in various services of the exchange.

ONDO: RWA concept, emerging hot spot, low market value, basically fully circulated, BlackRock's entry, whales have no reason to let go of this excellent target

In conclusion, in the current bull market, although altcoins may perform well in the short term, holding BTC is a safer choice from a long-term investment perspective.

Top 5 100x Altcoins That Are Expected to Be Huge Successes in the 2024 Bull Market!

PEOPLE

Although the original intention of the PEOPLE token was to participate in the auction of a copy of the U.S. Constitution, the failure of the auction did not weaken its market position. Although it has fallen recently due to market influence, the overall market and inventory show that the decline is still within a controllable range, but the current market sentiment is relatively depressed.

BABY

After a sharp drop in the past few days, PEPE has successfully rebounded and stabilized around 0.0113. This shows that the currency has strong resilience. As long as it does not fall below this key support level, the future upside potential is still considerable. However, investors should be cautious, as there are risks in the market. For those who prefer steady investment, it may be a good time to wait and see, waiting for clearer upward signals.

ok

With BlackRock’s investment, Ondo quickly attracted market attention, especially in the RWA (Real World Assets) sector, which attracted the attention of other financial giants and indicated huge market potential.

As the "son" of Coinbase, Ondo has cooperated with Solana and has also received investment from Wall Street institutions, especially Jump Trading on Wall Street as a market maker, which is very powerful.

In addition, TRU also has strong fundamentals, has received investment from a16z, and its founder used to work as an engineer at Google. As an emerging hot spot of the RWA concept, TRU has a low market value and is basically fully circulated, which is far better than those current coins with only 10% of circulation but a market value of hundreds of thousands. Such an excellent target will inevitably attract the attention of market whales.

Trees

On the SOL chain, Bome is gradually emerging as an emerging MEME coin that has attracted much attention. Although its market value is only $700 million, far less than the $7 billion of PEPE on the ETH chain, Bome is showing a rapid catching-up momentum. The continued steady rise in price performance proves the market's recognition of Bome's strong potential and prospects. In the current bull market environment, Bome is expected to become the next hot MEME coin. For investors seeking high returns, now is an ideal time to enter the market.

Doge

Dogecoin has attracted much attention due to its wide popularity and recognition. Despite the lack of practical application scenarios at present, many investors have begun to hoard Doge, looking forward to its future explosion. For those investors who hold spot, now is a good time to gradually build positions. Although the price fluctuations of Doge may not be too large, its stability makes it an ideal choice for conservative investors. In the process of holding Doge, investors should remain patient and keep a certain bottom position to seize future opportunities.