76800! Bitcoin price hits a new high, and the bull market is fully launched! These cryptocurrencies are expected to soar next.
Trump is the most supportive president for the cryptocurrency space in history, and he may even incorporate Bitcoin into the national reserve! The expectation of BTC reaching $100,000 by the end of the year seems to be getting closer to reality.
So, which cryptocurrencies currently have explosive potential? How likely is it that the Federal Reserve will cut interest rates tonight? Let's take a look together!
First, Trump has announced his victory and is about to become the 47th president of the United States. The cryptocurrency space has waited for ten years and has finally welcomed a president who openly supports Bitcoin; this is a historic moment!
Bitcoin has broken through its historical high; this bull market has truly arrived! Every dip is a good opportunity to increase holdings. I have been encouraging everyone to buy the dip these days, and now the turning point has finally arrived. I believe in the positive impact brought by Trump, and we have truly captured this big market trend! Don't forget to hit follow and keep up with the pace!
However, everyone should note that although Trump won, he will not officially take office until January 20 of next year. So if Bitcoin is to be incorporated into the national reserve, it may still take some time.
I believe the upcoming hot cryptocurrencies will be Solana and its ecosystem's leading Dogecoin WIF. We analyzed earlier that although Sol's ETF application has been submitted, the difficulty of approval under normal circumstances is very high. Now the situation is different; with expectations of Trump taking office, Sol's ETF has a glimmer of hope. Therefore, Solana and WIF may see considerable ETF speculation later, and there might even be a real opportunity for approval.
Okay, the elections are over, and everyone is excited, but we still need to return to rationality. Let's take a look at the historical trends of Bitcoin after the elections. Actually, regardless of who is elected, both the cryptocurrency space and the US stock market will experience a 'honeymoon period' after the elections. Let's analyze the chart together.
From the chart, the Bitcoin trend after the US presidential elections in 2016 and 2020 is quite similar: whether Trump or Biden took office, Bitcoin consolidated for about one to two weeks after the elections, and then the bull market started completely, rising all the way. Moreover, it's not just Bitcoin; the US stock market also showed a similar trend.
This phenomenon is actually easy to understand because the election dust has settled, market uncertainty has been eliminated, and investors' concerns have decreased, leading them to re-enter the market and bringing a clear trend. Now with Trump taking office, market confidence may be even stronger, and the trend should be more robust. Although the consolidation in 2016 lasted a bit longer with a drop, I believe this time the situation will be better than then.
Currently, the cryptocurrency space can be said to be a combination of various positive factors; not only is there the post-election trend, but also the Halloween effect, plus the Federal Reserve's liquidity, making it almost certain that this bull market is about to start! As long as you can hold your coins steadily, there is at least a three to five times growth potential in assets over the next six months.
Also, don't forget that the adoption rate in the cryptocurrency space is still very low, and there is enormous growth potential in the future. Every time a bull market starts, a large number of newcomers flood into the market. Now not only venture capital but even those traditionally conservative pension institutions are starting to allocate Bitcoin.
Indeed, the UK already has the first pension institution starting to allocate Bitcoin, and they have allocated 3% of their portfolio, which shows that the traditional financial market is indeed gradually accepting Bitcoin.
Not only in the UK, but this week, a pension fund in Michigan, USA, also purchased $7 million worth of Ethereum, in addition to the $10 million worth of Bitcoin purchased earlier, indicating that the adoption rate in the cryptocurrency space is steadily increasing. The entry of traditional funds undoubtedly brings more confidence to the market.
We are now pioneers, part of an early group. With the ETF only passing this year and traditional institutions gradually entering the market, it means that the cryptocurrency space has at least 5 to 10 years of significant bullish potential ahead. So now is the best time to seize the opportunity and earn your first bucket of gold in life.
I think Floki, Sol, and Pepe will perform very strongly in the upcoming bull market. If Sol reaches 500, that's a 3x return, while Dogecoin will be more volatile, potentially seeing around a 10x increase next year.
In addition, Ethereum will hold its annual conference on November 12, which will bring a wave of short-term enthusiasm. But the real surge will happen during the Prague upgrade early next year; I have already reminded everyone to prepare in advance, and now Ethereum has directly soared to 2880, performing exceptionally well!
However, I think Ethereum is not done yet. Although it is currently consolidating, it will continue to rise next, at least until the conference on the 12th, the enthusiasm will persist. The current support levels are around 2700 and the more aggressive 2780, so everyone can keep a close watch.
Additionally, this week I encouraged everyone to bravely buy the dip on Dogecoin, and as a result, once the election results came out, Dogecoin skyrocketed to 0.22. If no leverage was used, that's already a 60% gain. I also reminded everyone to take profits at 0.2, and now we can focus on those about to rebound, like Pepe.
Furthermore, the other coins we bought at the dip have also risen significantly, which is the charm of the cryptocurrency space: buying low and selling high, capturing several waves of market trends in a week is completely normal. Every day I update the latest points and operations; interested friends can follow along at any time.
Next, let's take a look at some key on-chain data, and everyone can review the trends on the chart.
After months of silence, Mentougou has once again started to sell this week, transferring 35,000 Bitcoins, worth about $2.3 billion. Usually, such a situation would cause a flash crash of over 5% in the cryptocurrency space, but as you have seen in the past few days, the market is not afraid at all. Once the price drops, large holders will buy the dip, which is completely different from the pessimistic atmosphere of a few months ago.
Currently, there are still about $2 billion worth of Bitcoin left in Mentougou's hands, which has little impact on the market now. Moreover, the $16 billion compensation case from FTX is also getting closer, which will be a huge buying pressure that may kick off in the coming weeks, possibly further boosting the subsequent market. So everyone should remain patient; the cryptocurrency space has entered a bull market cycle, and Bitcoin is expected to rise to $150,000 in the next six months.
Currently, Bitcoin's on-chain data is also very healthy. A few days ago, when Bitcoin dropped, a large amount of capital immediately entered the market. The current price is still in the red buying zone, indicating that large holders are in a stage of accumulating chips, not selling.
Also, don't forget that at 3 AM tonight, the Federal Reserve will hold a monetary policy meeting, and it is expected to announce a 100% interest rate cut, which is a positive signal for the market. Furthermore, the Federal Reserve is expected to continue cutting interest rates over the next year, providing an excellent environment for the bull market in the cryptocurrency space.
Now, we ordinary people must seize this trend to change our life trajectory. You may feel a bit confused now, but trust me, as long as you hold your coins firmly, by next year, we will witness this miracle happening together.
Keep going, let's move towards success together!
