Bitcoin has recently been fluctuating between $95,000 and $98,000, with the current price at $96,100. According to the current trend, it is expected to drop a bit. In the medium term, it is still a bullish trend. However, I still believe that the upward space for Bitcoin is not very large, and the cash-out position is still decent. We are currently in the second phase of the bull market, and Bitcoin's main funds are about to flow into secondary mainstream coins.
The first phase of the bull market began before the U.S. elections. Bitcoin started first in early October, followed closely by Dogecoin. As of now, Bitcoin has risen by 70%, and Dogecoin has risen by 450%. Subsequently, both entered a sideways market. The signal for the start of the second phase is the explosive doubling of XRP, WLD, and ADA. The current market signals indicate that Bitcoin could adjust at any time, and such adjustments may likely drag down other small coins and altcoins together. At that time, Bitcoin will stagnate, and the main funds will enter secondary mainstream coins, triggering an explosion in secondary mainstream coins!
Which coins should we focus on in the second phase of the bull market?
Currently, it appears that in this second phase, established secondary mainstream coins are the main force of this bull market's second phase! Litecoin is expected to have good potential. Litecoin (LTC) is a cryptocurrency based on Bitcoin, aimed at providing faster transaction confirmation speeds and lower transaction fees. The total supply of Litecoin is 84 million coins, four times that of Bitcoin. It is not an inflationary coin and has a four-year halving mechanism like Bitcoin. Currently, Litecoin has increased by nearly 40% in the past four days, and is around $128. I believe there is still a lot of room for growth in the upcoming second phase!
Additionally, there is another very promising secondary mainstream coin, Bitcoin Cash (BCH). It is a permissionless digital currency that realizes Bitcoin's original vision as 'peer-to-peer digital cash.' Importantly, it is known as the prince! BCH has a fixed total supply and is not affected by inflationary coins, making it a stable digital currency. Although BCH rose from $360 to a peak of $568 in early November, I believe BCH has not yet started in this bull market, and there is still a lot of upward space. In this bull market, BCH could have 2-3 times the upward potential!
If you think the unit prices of these coins are too high and not suitable for purchase, there is another potential coin—EOS. EOS is also an established mainstream coin. It is a decentralized digital currency based on blockchain, mainly used to provide infrastructure for decentralized applications (DApps) and smart contracts. Currently, EOS's market capitalization has exceeded $1.7 billion, reaching its highest level since November 2022. In the past 30 days, EOS's price has surged by as much as 165%. Despite this, EOS is still 95% lower than its all-time high. In the second phase of this bull market, EOS still has potential, looking towards $2!
In addition to these, I think Ethereum Classic (ETC) also has room for growth. ETC is a decentralized cryptocurrency based on blockchain technology. It is mainly an early player of Ethereum. Currently, Ethereum's performance in this bull market has been mediocre, but the news surrounding Ethereum will gradually increase, marking the day when Ethereum takes off. That is the day Ethereum Classic rises!
Including the current WLD, ADA, and XRP, which have performed relatively well in this phase. If aggressive friends still want to jump in, the more cautious friends can choose to enter at lower points after a pullback. I can only say that there is still a lot of upward space.
The advantage of these secondary mainstream coins is that they are more stable than altcoins and cheaper than Bitcoin, with more room for growth. When these secondary mainstream coins rise, it marks the end of the second phase of the bull market, ushering in the third phase of altcoins and meme coins taking off!
In the current market situation, there are many opportunities, but investing always comes with risks. If you want to reduce risks, quickly follow me and let’s communicate and discuss! I am Brother Lei, codename Stability! Focused on the crypto space for seven years. Deeply researching primary projects and secondary markets. Learn more about quality primary project information and recommended secondary trading points. Just to safeguard your investments in the crypto space!