The cryptocurrency market is experiencing a period of high volatility, leading to nervousness among investors. Despite recent price drops, the altcoin market still shows promise on a macro level. The bull market may still be in its early stages, and investors should consider adopting a long-term perspective.
some key points :
Altcoin volatility is normal and should be expected.
Unless you're a trader, it may be better to research promising altcoins and hold them for the long term (1-2 years).
Historical bull markets have shown that most altcoins will increase in value, despite short-term fluctuations.
It's essential to ignore the volatility and focus on the bigger picture. Research and due diligence are crucial in selecting the right altcoins to invest in.
Remember, investing in cryptocurrency carries risks, and thorough research is essential before making any investment decisions.
The text discusses a bullish breakout prediction for the altcoin market capitalization (MC) based on technical analysis. Here's a breakdown:
The author zooms out to the monthly chart and applies Fibonacci levels to the entire bull market.
The current price range is bounded by the 0.618 Fibonacci level (top) and 0.382 Fibonacci level (bottom).
Breaking above the 0.618 Fibonacci level would require significant momentum.
The catalyst for this breakout could be the bull pennant formation mentioned earlier.
- The measured move for this breakout would be $1.65 trillion, slightly below the all-time high of $1.7 trillion.
- Further targets in price discovery are estimated using Fibonacci extension levels:
$2.5 trillion (1.618 extension)
$3.76 trillion (2.618 extension)
In summary, the author predicts a potential breakout above the $1.65 trillion level, with further targets at $2.5 trillion and $3.76 trillion, based on Fibonacci analysis and the bull pennant formation.
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