The market has actually adjusted healthily in the past few days. Most coins have risen several times over the past month, so a 30% to 50% pullback is very normal. The outlook for the upcoming market is as follows:
1. The first phase of the bull market has ended, and after the adjustment, we are about to enter the second phase.
2. Currently, off-market funds have not entered on a large scale; we are still in the phase of insiders. The rise of many coins is also driven by leverage within the market, so it's necessary to clear leverage in the short term.
3. The adjustment period won't be long; the second phase will begin before Christmas.
4. Leading the charge in the second phase is SOL or ETH-related assets. This is my judgment after experiencing several chains. SOL is simple, has a low barrier to entry, and has a grassroots base, while ETH has a demand for catch-up.
5. The clearing of leverage (spike) in the second phase will be even more brutal than in the first phase, but the overall upward trend remains unchanged. Therefore, accumulating spot at dips is sufficient (like now). Frequently increasing leverage in a bull market will only accelerate your demise; don't treat exchanges like fools.
6. In the first phase, I didn't choose to 'escape the top' because I knew this was just the beginning. Many times, once you leave the market, it's hard to come back, or you come back at a higher cost. I believe the rise in the second phase will leave those who escaped the top in the first round stunned, slapping their thighs in disbelief. This trust comes from Wall Street/BlackRock/Trump/ETF, and that man.
7. Miners are the group closest to Bitcoin and have their own set of cognitive frameworks. The supply-demand relationship and prices of mining machines often reflect the stage we are currently in. During the peak stages of previous bull markets, not to mention the price of $BTC, even mining machines had to increase several times. So if someone tells me to escape the top now, I can only say you're an idiot who hasn't seen the world.
Ambush these 4 cryptocurrencies that are about to explode 100 times!
BONK
Bonk memecoin has also experienced a similar price trend, with its portfolio value significantly shrinking over the past seven days. Notably, the 24-hour trading volume of this memecoin is $386.408 million, with a market cap of $2.91 billion.
Technical indicators SMA and MACD have continuously recorded negative price trends in the daily time frame. This indicates a bearish outlook for the fourth-ranked memecoin in the cryptocurrency market.
If the market is bullish, the price of BONK will retest its upward resistance level of $0.00004704 this month.
FTM
Fantom is one of the best-performing projects recently. The blockchain recently broke through a key resistance level, leading to a price increase of 85%. The target price for Fantom is $1.68, and market confidence is strengthening. Its fast transaction speeds and low costs make it an ideal choice for decentralized finance (DeFi) projects. Whale activity and outflows from exchanges indicate that investors are optimistic about Fantom's future.
BCH
It is a well-known Bitcoin derivative that has regained attention as its market cap recovers to $600, reaching $12.9 billion. With its scalable trading model and focus on fast, low-cost payments, BCH remains a key player in the blockchain ecosystem.
Analysts speculate that its price could reach $1,000, needing a 1.5 times increase, and its market cap will exceed $19 billion. The optimism around Bitcoin's potential six-figure rise may have spillover effects, benefiting BCH as a faster and cheaper alternative.
APT
As one of the most noteworthy cryptocurrencies to watch in December 2024, it is gaining momentum, with its price rising from $9.6 at the end of November to a recent $15, bringing its market cap close to $8 billion.
Although still below the $20 peak in 2021, the Aptos team plans extensive advancements, including parallel transaction processing and on-chain randomness, providing scalable infrastructure for billions of transactions. These features can support various use cases, such as integrated payment systems for prediction markets and loyalty programs.
