From 2023 to 2024, the number of millionaires holding at least $1 million $BTC grew by 111%, reaching 85,400 individuals, almost half of all cryptocurrency asset millionaires. What’s the secret behind this?
In fact, BTC has not only helped countless investors achieve a leap in wealth, but in 2024, it also created five new billionaires, bringing the total number of BTC billionaires to 28. This astonishing growth is not only due to the scarcity of BTC itself but also related to the increasingly open regulatory policies adopted by more countries worldwide.
Taking the United States as an example, the approval of 11 spot BTC ETFs greatly promoted the popularity of $BTC . These ETFs have attracted nearly $20 million in investments, showing that more and more investors are willing to participate in the cryptocurrency market through regulated funds. Singapore and the UAE have also adopted very open policies to support crypto assets, such as the UAE abolishing capital gains tax, allowing Dubai residents to trade cryptocurrencies directly using bank accounts, and Singapore releasing new custodial guidelines and amendments to payment services laws, which promote the development of the entire digital asset ecosystem.
The open policies of these countries have undoubtedly injected new vitality into crypto assets and made more people aware that BTC can bring significant wealth appreciation. $BTC has become one of the most popular investment choices; whether for millionaires or billionaires, BTC is paving their way to wealth.
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Solana ($SOL ) Could See a 2000% Increase: Charts Indicate an Imminent Explosion!

The technical formation of Solana ($SOL ) appears to signal the arrival of a bull market. Can it achieve a 2000% growth?
Cryptocurrency analyst Peter Brandt noted that Solana ($SOL ) has formed a cup and handle pattern on the weekly chart. This pattern typically develops after the price undergoes a U-shaped recovery phase (similar to a cup) and then enters a consolidation phase resembling a handle.
The handle stage usually represents a hesitation period for investors assessing whether the upward trend will continue. This reflects the recent market psychology, as the price of $SOL has consolidated within the $100-$200 range since March 2024.
According to technical analysis principles, the cup and handle pattern is usually confirmed when the price breaks through the common neckline resistance (currently at $205) and rises to the maximum distance between the cup bottom and the neckline.
The discussed technical structure predicts a target price for SOL of around $4,500 by 2025-2026, representing an increase of over 2000% from current levels.
However, the historical success rate of the cup and handle pattern must also be considered. For example, a study by analyst Thomas Bulkowski analyzed 913 stock market cup and handle charts and found that 61% of charts with this formation reached their target. In other words, the cup and handle pattern does not always guarantee a complete upward movement.
Cryptocurrency analyst Tuna Kaya's analysis of $SOL on October 21 drew attention. Tuna Kaya stated that the resistance level of $163 has finally been broken. According to this analyst, SOL could reach a price range of $190-$200. Support areas to watch will be $163-$150 and $140. The most critical support range will be $126-$120.

As I predicted earlier, $SOL has recently performed exceptionally well, with an increase of +6.58%. The current trading price is stable at 169.39 USDT, and it reached a high of 170.14 USDT in the past 24 hours. Since a strong rebound from a low of 157.58 USDT, the upward momentum of $SOL seems to show no signs of weakening.

For traders, the key resistance level of 170.14 USDT is something to closely monitor at the moment. If it can successfully break through this price point, there is a possibility that the price of SOL may rise further to 171.27 USDT or even higher. This rise undoubtedly provides a great profit opportunity for investors.

However, while we anticipate the price to continue rising, we also need to be cautious of potential market pullbacks, especially noting that the price may retrace to 163.02 USDT, which could be an important moment for the price to test the support level again.

The view is that if Harris is elected, she is unlikely to approve ETFs for other cryptocurrencies such as $XRP and $SOL . In contrast, if former President Trump wins the election, there will be a 'significant opportunity' in the market to launch more cryptocurrency ETFs, regardless of whether BlackRock joins Bitwise, VanEck, and other companies looking to expand cryptocurrency ETFs beyond $BTC and ETH.

The prediction market Polymarket shows that the probability of Trump winning the U.S. presidential election has risen to 64.5%, nearly 30 percentage points higher than the probability of Harris winning. Currently, market sentiment is high, and the situation seems poised to explode at any moment, with expectations for the performance of $Piin.

This morning, Bitcoin ($BTC ) and Ethereum ($ETH ) both touched the previously discussed key support levels after experiencing a pullback, and subsequently saw some recovery. For BTC, the important support area is between $60,000 and $62,000, while ETH is being monitored in the range of $2,380 to $2,420.

Today's market focus includes:
- BTC: The current price is around $66,600, facing resistance between $68,000 and $68,500. If it cannot break downward, it may pull back to the range of $64,800 to $65,600.
- $ETH : The price has retreated to the support range of $2,600 to $2,630, with resistance at $2,660 to $2,680. If the price breaks below $2,520, then the level of $2,460 will become the next focus for support.

Overall, the market currently appears relatively weak and has not shown the expected strong upward momentum. It is anticipated that the market may continue to fluctuate in the short term, and investors should closely monitor changes in support and resistance levels.

Market Analysis for $BTC :
- On the weekly level, $BTC closed with a large bullish candle, with a weekly increase of 10%, and the price is close to $70,000, indicating further upward potential in the future.
- From a daily perspective, BTC's performance appears somewhat weak, suggesting that main capital has shifted from Bitcoin to other altcoins. Nevertheless, the daily trend remains healthy, and bullish sentiment may persist; it is recommended to maintain a conservative approach.
- The 4-hour chart shows that BTC surged significantly to around $69,500 in the early morning before experiencing a pullback. The intraday trading strategy could be to sell high and buy low, with key support levels at $68,000-$67,500 and resistance levels at $69,500-$70,000.

Market Analysis for $ETH :
- Last Saturday, it was mentioned that Ethereum's daily performance was good, and compared to Bitcoin, Ethereum has greater upward potential, with a short-term target of $3,000 and key support at $2,850.
- The weekly chart closed with a large bullish candle, and the candlestick successfully broke through and stabilized above the moving average, with the 7-day moving average turning upwards, indicating an overall bullish trend.
- On the daily chart, the candlestick steadily rises along the 7-day moving average, with a normal and steady daily increase.
- The 4-hour chart maintains a high near $2,660 and broke through strongly on Sunday, reopening the market. The intraday operation suggestion is to maintain a low long strategy, with lower support at $2,710-$2,690 and upper resistance at $2,790-$2,810.

Analysis of the Altcoin Market:
- Last Saturday, it was mentioned that altcoins would welcome a recovery opportunity, and the market performance on Sunday was in line with expectations, showing a wave of recovery.
- Currently, Bitcoin's upward momentum appears weak; although the overall outlook is bullish, it is not recommended to increase positions in altcoins. More information can be obtained by following the public account of Crypto Recorder.
- Last week, altcoins were in a low position accumulation phase; the best strategy now is to hold onto current positions and wait for the market to rise. Some strong altcoins may develop independent trends.

Musk's support for $DOGE dates back to 2021, but in the past few months, despite his proposal of the "Department of Government Efficiency (DOGE)," the market performance of DOGE has not fluctuated much. However, this time Musk's endorsement not only caused $DOGE to surge by 15% in the short term, but this upward trend is still ongoing. This reminds people of Musk's endorsements for DOGE during the bull market of 2021, when in January, February, and April, Musk mentioned DOGE multiple times on Twitter, and each mention led to at least a 37% increase in DOGE's price, with the highest increase reaching 404%. However, some may think that Musk's endorsement indicates the arrival of a bull market, but the subsequent data may break this expectation. In fact, even during the bear market of 2022, Musk endorsed DOGE several times, specifically in January, April, and June, and these endorsements resulted in increases ranging from 10% to 32%. If we compare this 15% increase of $DOGE with previous situations, this alone is insufficient to conclude that a bull market is imminent. But it is certain that this is a phenomenon that has never occurred during the bear market. Whether Musk can replicate the glory of the "Musk Investment Advisor" still requires our continuous observation.

After $DOGE and $SHIB , Cat in a Dogs World (MEW) has officially listed on the #Upbit exchange and entered the Korean Won (KRW) market. Users can start trading the MEW/KRW trading pair from 16:00 UTC on October 21. According to the announcement, buy orders will be restricted for about 5 minutes after trading begins. Additionally, MEW only supports deposits and withdrawals via the MEW-Solana network and can only be operated after ownership is confirmed.

With the release of the listing news, the price of MEW has increased by 14% in the past 24 hours, and the current trading price is $0.009561. Trading volume has also surged by 370%, reaching $358.26 million, further fueling bullish sentiment in the market. MEW has become the third meme token linked to the Korean Won and listed on Upbit, following DOGE and SHIB, attracting significant interest from investors and traders.

Moreover, the futures market has responded positively to this news, with open interest (OI) in Solana-based token futures soaring nearly 16% to $165.43 million, and derivatives trading volume increasing by 302% to $1.32 billion. With these data and price increases, MEW is in a strong upward trend.

Bitcoin has started to pull back, so where can we buy in?
I believe around $67,000 is a great opportunity for an additional purchase, as this price point was the highest of the previous trend. If $BTC develops according to the 5-wave model, then this is quite a decent entry point.
Additionally, the 0.618 retracement point near $66,000 is also a good buying point, with greater certainty at this level. If the price reaches here, I would take bold action, as there will at least be a decent rebound.
As for $DOGE , we have been suggesting to buy around $0.137 in the past few days, and today the price has already risen to nearly $0.15, which makes me very happy. Our steadfastly held Ethereum has successfully risen to $2,768 today, up 20% from over $2,300, and I am very satisfied with such performance.
However, $ETH faces some resistance around $2,800, and contract traders need to be especially cautious. Nevertheless, my own 2x long position is still held, as I plan to invest for the long term.

Altcoin season actually started in October 2023, when the crypto market hit the bottom and the market started to rebound from the low. But the real altcoin season usually starts when Bitcoin ($BTC ) dominance reaches a peak.

In previous bull markets, BTC dominance has always been the key factor to trigger altcoin season. This time is no exception, BTC dominance is affecting the performance of altcoins. As we can see, BTC price almost hit the high of $69K, while Ethereum ($ETH ) and other altcoins are struggling to gather momentum.

At present, we can only see that BTC dominance has reached its major resistance level, which may mean that the dominance of $BTC will peak in the coming months.

$XRP Recent news mainly focuses on the following key areas:

1. **Price Analysis**: XRP’s 50-day exponential moving average (EMA) is located at $0.5815, a level that provides strong support and maintains the bullish trend. The current immediate resistance is at $0.6137, and if XRP can break above this resistance, its upside potential could extend to $0.6483. XRP’s relative strength index (RSI) currently stands at 54.44, which indicates that the market is neutral and the price can move in either direction.

2. **Price Quote**: The current price of XRP is $0.7936, which has increased by 68.21% in the past 24 hours. This significant increase correlates closely with XRP’s performance in the market, although uncertainty surrounding regulatory direction remains.

3. **Regulatory Updates**: The legal dispute between XRP and the U.S. Securities and Exchange Commission (SEC) is expected to reach a conclusion in the near future, and this ruling may have a significant impact on the price of XRP. Some investors purchased XRP before the official ruling was announced, which could give the price of XRP a boost if the ruling turns out to be positive.

4. **Technical Upgrade**: Ripple Labs has announced a major technical upgrade to the XRP Ledger (XRPL) with the goal of increasing the flexibility and efficiency of the infrastructure, which may have a positive impact on the price of XRP.

5. **Market Activity**: Ripple is unlocking 1 billion XRP tokens every month, with the total value of these tokens being approximately $603 million. The strategy adopted by Ripple is to lock these tokens back into escrow accounts to control their circulation in the market. This approach has had a certain positive impact on the stability of the XRP price.

Today’s cryptocurrency market analysis will allow you to seize the opportunity:

1. **Bitcoin ($BTC )**: The price fluctuates violently, like an electrocardiogram, but it currently seems to have chosen to break upward. BlackRock’s iShares Bitcoin Trust’s pre-market trading volume reached $14 million yesterday; the Bitcoin ETF has exceeded the $20 billion mark in just 10 months.

2. **Ethereum**: On the Ethereum network, there have been many active projects and activities recently.

3. **Solana ($SOL )**: SOL has experienced a significant correction, demonstrating its greater volatility.

4. **Binance Coin ($BNB )**: BNB is no longer hiding and seems to be following the trend of the broader market.

5. **Venmo**: Venmo, which has 60 million users, now allows users to purchase cryptocurrencies through MoonPay.

6. **Bank of America Warning**: As the national debt rises, U.S. Treasury bonds may be at risk, and gold may become the last safe haven.

7. **Coinbase**: Coinbase international station will launch Turbo perpetual contract.

8. **FBI Arrest**: The FBI arrested the man who posted false Bitcoin ETF approval news on SEC Twitter.

9. **ZachXBT**: The X account of cryptocurrency KOL TheCryptomist was hacked by Russian scammers.

10. **Data**: Bitcoin’s open interest market size hit an all-time high of $20 billion.

11. **Liam Payne**: Minutes after singer Liam Payne passed away, hundreds of memecoins were created.

12. **Base Network**: USDC transfer volume on the Base network hit a record high, processing more than $17.5 billion in a single day.

13. **NVIDIA**: NVIDIA’s stock price rose nearly 4%, hitting a record high.

The current situation of Dogecoin ($DOGE ) can be analyzed from the following aspects:

1. **Market Cap and Volatility**: As an old meme currency with a large market cap, DOGE has relatively small volatility and its price cycle changes relatively slowly. It lacks the volatility of PVP (player versus player), so not all investors will pay attention to it.

2. **Transaction Volume**: Recently, DOGE’s transaction volume has increased significantly. In addition to Bitcoin ($BTC ), Ethereum ($ETH ) and Solana (SOL), there is a large amount of capital flowing into DOGE, and this capital inflow is continuing.

3. **Election and Musk’s influence**: As the election approaches, Elon Musk’s influence on DOGE cannot be underestimated. His words and actions may have a significant impact on the price of DOGE. Influence.

4. **Daily Chart Analysis**: Judging from the daily chart, DOGE shows a reversal of decline and shows a strong upward trend.

Summary: Investors should decide their operations based on the flow of funds.

Here are three potential altcoins worth watching:

1. **Polkadot ($DOT )**:
- Features: Polkadot is a multi-chain platform that aims to achieve interoperability between different blockchains, allowing them to share information and assets. Polkadot's unique architecture makes it excel in processing cross-chain transactions and working together.
- Potential: As the blockchain ecosystem develops, Polkadot has the potential to become a key infrastructure connecting different chains.

2. **Solana ($SOL )**:
- Features: Solana is known for its fast transaction speed and low transaction fees. It uses the "Proof of History" mechanism to support high-throughput decentralized applications (DApps).
- Potential: With the growth of the DeFi and NFT markets, there are more and more applications on the Solana platform, attracting a large number of developers and users.

3. **Chainlink ($LINK )**:
- Features: Chainlink is a decentralized oracle network that can bring real-world data to the blockchain and provide a reliable data source for smart contracts.
- Potential: With the increase in smart contract applications, the demand for Chainlink in DeFi, insurance and other fields continues to rise, making it an important infrastructure project.

These altcoins have shown certain potential in terms of technological innovation and market application, but it is still necessary to be cautious when investing, and it is recommended to conduct in-depth research before making an investment decision.

There is a hot topic about whether to invest in Solana ($SOL ) now and its possible increase by the end of the year. SOL performed very well in the first half of the year, rising nearly 10 times from a low of $15, which attracted the interest of many retail investors.

1. **Short-term trading**: If you focus on short-term trading, you can enter the market now. Short-term trading pursues rapid fluctuations and a few percentage points of profit within a day, and there are such opportunities every day. Even if $SOL can rise 10 times in the future, it is more important for short-term traders to pay attention to intraday fluctuations.

2. **Mid-term trading**: For mid-term traders, more factors need to be considered, such as whether SOL has major positive news in the near future or has become a market hotspot. If so, you can observe the daily market according to your trading system to find the buying point, formulate a strategy, and sell when the daily line shows a peak signal to lock in profits.

3. **Long-term investment**: Long-term investors need to consider more factors. At present, SOL has risen 701 times, with a market value of 627.3 billion US dollars, ranking fifth. If it can rise to the market value of Ethereum at $2 trillion, it is theoretically possible to rise another 4 times, but this requires an in-depth analysis of the fundamentals and future development of $SOL . If you are optimistic about SOL, whether you expect a 1x or 2x increase, you should buy on the pullback according to your trading system and sell when the peak signal appears.

Whether it is short-term, medium-term or long-term trading, having a clear trading system can greatly increase your chances of making money. Without an executable and replicable trading system, trading will become arbitrary.

To estimate the potential price that $WIF could reach in the current bull market, we can refer to the increase of Solana (SOL) for the following analysis:

1. **Historical increase comparison**: $SOL achieved huge growth in the previous bull market, with the price rising from a few dollars to a high of nearly $200. If SOL can achieve similar growth again in the current bull market, assuming it can rise from around $150 now to $500 or more, we can use this ratio to speculate on the potential increase of WIF.

2. **WIF's fundamentals and market value**: WIF may be a token with a smaller market value, which means that its price volatility may be greater than SOL and theoretically has higher growth potential. In a bull market, small-cap tokens tend to achieve larger increases than large-cap tokens.

3. **Technical analysis and market sentiment**: From the technical chart, WIF has shown a clear upward trend recently, and it is supported by trading volume. If market sentiment remains positive and WIF's fundamentals develop well, it has the opportunity to achieve several times the increase in the bull market.

Predicting the potential of WIF based on SOL's performance:
- Assuming that SOL can rise to $500 in this bull market (about 3 times the current price), we can use similar multiples to predict the potential of WIF.
- If WIF's current price is $2.648 and it can grow 3 times with the bull market, then WIF's price has the potential to reach about $8.
- A more optimistic prediction is that if WIF can achieve a 10x or even more increase like $SOL in the last bull market, its price has the potential to reach more than $20-25. But such an increase requires strong market sentiment and good fundamentals.

In general, the potential of WIF in the current bull market depends on the market's attention to it and the inflow of funds.

Dogecoin ($DOGE ) has had a very strong week, but we also need to explore whether it will fall back. Recently, DOGE has indeed become very popular and investors are very enthusiastic about buying. However, after such a rapid rise, the market may need a period of rest to give investors who bought in early a chance to take profits.

Some technical indicators show that $DOGE may have risen too much and has appeared "overbought". It has broken through the key resistance level of $0.128 and may challenge the price level around $0.15 next.

Data shows that on Thursday, a large amount of funds flowed into DOGE, with an inflow of 11.7 billion coins and a total amount of $640 million. This shows that although the price has been rising, investors' willingness to buy remains strong.

However, not all large holders choose to hold DOGE for the long term. Some whales and volatile traders have begun to sell after taking profits, but their shares have been taken over by retail investors. Retail investors' holdings increased from 8.75 billion to 10.74 billion, showing their enthusiasm for DOGE.

Overall, the current situation of DOGE is that some large investors have withdrawn after taking profits, but the purchasing power of retail investors is strong and has been supporting the price of $DOGE . If large investors stop buying, DOGE may lose its momentum to rise. However, these observations also show that the confidence of DOGE holders is increasing as we enter the fourth quarter of 2024.

Bitcoin ($BTC ) seems to be moving steadily forward, with each pullback being small, and sometimes even going sideways instead of falling. These phenomena indicate that there is a fear of missing out in the market, which is a positive sign for the market. Yesterday we made four operations, two BTC and two Ethereum ($ETH ), and all of them were successfully stopped. The $BTC operation made a profit of 1,600 points, while the ETH operation made a profit of 70 points.

Exchange-traded funds (ETFs) continue to receive inflows, and the contract volume has exceeded the March average in recent days. Whether the bull market really arrives or not, we don't need to worry about a large pullback. As long as the profit and loss ratio is controlled and kept above 3:1 for each operation, the risk can be reduced. For BTC, the stop loss point should not exceed 500 points; for ETH, the stop loss point should not exceed 25 points.

Today's operation strategy is low-long, as follows:
- BTC is long in the range of 58000-38300, with a target of 68800-69200.
- ETH is long in the range of 2610-2620, with a target of 2650-2670.

The market analysis of Bitcoin ($BTC ) is as follows:

1. **The importance of $69,000**: The position of $69,000 is more critical than $72,000 because it is the last line of defense before the breakthrough. Yesterday, the closing price of $BTC was $68,400, and the highest reached $68,958. This price range has triggered a large number of short-order stops. If the market really wants to turn long and hit the $70,000 mark, it should theoretically use the momentum of these short-order stops. Last night, it was directly pulled up to $70,000 and closed at $70,000, adding momentum to the market next week. However, the price hovered around $68,800 for several hours, showing obvious signs of shipment.

2. **Air Force Strategy**: At the $69,000 level, bears may not continue to increase their positions for the time being, but are waiting for the $72,000 and $73,000 levels, where there are more short orders. As prices rise, the cost of breaking through these resistance levels will also increase. It remains to be seen whether the main force will choose to eat up these short orders or let them trade.

3. **Operational Suggestions**: It is appropriate to short near $68,800. If $BTC officially breaks through $70,000, stop loss should be considered. It is more inclined that the market will have an opportunity to adjust and fall before the election.

4. **Short Strategy**: You can short in batches in the range of $68,600 to $69,200. If the daily real price breaks through $70,500, you should stop loss. The stop-profit target can be $66,500, $65,200, or even $60,000.

Meme coins are on the rise, and $DOGE (Dogecoin) has finally become the leader on the list of gains again, which is really rare. Speaking of Dogecoin, its performance is indeed impressive. With the strong support of Elon Musk, Dogecoin has achieved many achievements that other cryptocurrencies may never achieve in a very short period of time. This shows that linear pull-ups are indeed not as rapid as geometric growth.

When investing in currencies such as $ARK and $METIS , you still have to find strong supporters. Many people missed the strong backing of Ethereum, missed the thigh of Binance, and then missed the opportunity related to the Musk family. If you can successfully find and rely on these strong supports, there will not be too many troubles in the investment process. In short, choosing the right thigh to rely on is crucial to investment success.