Yesterday in the cryptocurrency market, it mainly depended on Bitcoin's performance. Bitcoin exhibited a consolidation at high positions, with most mainstream trends weaker than Bitcoin. Bitcoin approached its previous high, about 1500 USD away, feeling like it could break new highs at any moment. Indeed, it broke this morning, but the expected short-term increase after breaking the high might be limited, and it still needs to consolidate. This article is merely a personal review and does not constitute any investment advice.
Bitcoin is predicted to consolidate around 105000, with the daily line continuing to rise and break highs, but it won't deviate too much from the previous high, or there should be a major correction before the 27th. $BNB is expected to fluctuate between 700 and 740, showing overall weakness yesterday. An explosion will require waiting for Bitcoin's breakthrough and subsequent consolidation, especially since the recent airdrops haven't driven it up significantly, and it might drop a little when the airdrop ends. Ethereum $ETH's continuous accumulation by institutions can still be expected, suitable for buying on dips, especially as Bitcoin breaks new highs, providing more growth potential.
Returning to today's daily $BTC market analysis, from the K-line perspective, the 1-hour level is bullish, the 4-hour level is bullish, the 12-hour level is bullish, the daily level is bullish, with an intraday resistance at 107500 and support at 103000 USD. Overall, if Bitcoin breaks its high without volume, the increase may not be substantial after the breakout, and a significant correction may occur. At this time, do not open contracts recklessly to avoid being harvested.
5 cryptocurrencies to watch that could explode with 100-fold returns!
PEPE: A deflationary meme coin inspired by Pepe the Frog.
PEPE is a deflationary meme coin inspired by the Pepe the Frog meme from the early 2000s. It launched on Ethereum, following coins like Shiba Inu and Dogecoin. PEPE has no trading tax and maintains its meme identity without utility. By mid-2023, its market capitalization reached 1.6 billion USD, sparking interest in the cryptocurrency world. The roadmap aims to increase visibility through social media trends and exchange listings. It employs a burn mechanism to enhance scarcity and reward long-term holders. As an ERC-20 token, it benefits from Ethereum's security. PEPE can be used on major exchanges like Uniswap and Binance. Its deflationary model and strong community may make it attractive in the current market.
Solana's SOL: A fast blockchain for decentralized applications.
Solana is a blockchain platform designed for high-speed transactions and scalability, providing the foundation for decentralized applications. Its native currency, SOL, is central to its ecosystem, used for transactions, running custom programs, and rewarding network participants. Solana's standout feature is its ability to process a large number of transactions per second without relying on sharding or second-layer solutions. This approach aims to attract developers and users seeking quick and efficient decentralized services. SOL and the Solana platform emphasize speed and flexibility across programming languages, holding potential for supporting highly active products and services in the current market.
BONK: Solana's Shiba Inu Memecoin empowering the community.
BONK is a meme coin based on Solana, featuring a Shiba Inu mascot, aimed at empowering the Solana community by redistributing the power of venture capital tokens. It surged over 100% after listing on Coinbase and airdropped 50% of its supply to Solana's NFT and DeFi participants as a 'community token'. By mid-December 2023, BONK became the third-largest memecoin by market capitalization, with an increase of over 10,000% year-to-date. Despite challenges such as high total supply and volatility of meme coins, BONK's integration into the evolving Solana ecosystem (including the launch of the decentralized exchange BonkSwap) makes it an appealing participant. In the current market cycle, this token appears very attractive.
TRON (TRX): A decentralized platform empowering content creators.
TRON (TRX) is a blockchain-based platform launched by the Tron Foundation in 2017. It aims to empower digital content creators by allowing them to share content directly with consumers, giving them complete ownership. TRX was initially deployed as an ERC-20 token on Ethereum and migrated to its own network in 2018. The platform supports smart contracts and decentralized applications (dApps), allowing developers to build and deploy their projects. TRON adopts a transaction model similar to Bitcoin's UTXO, with transaction records on a public ledger. By eliminating intermediaries like YouTube or Apple, TRON seeks to reward content creators more fairly. Its focus on decentralization and direct content sharing continues to attract attention in the evolving market.
Cardano (ADA)
Due to its emphasis on scalability and sustainability, Cardano (ADA) has been rated as a reliable blockchain project. However, even with significant progress, its adoption rate could be faster. The scalability potential of the Cardano blockchain is limited as its smart contracts and decentralized applications have not been widely used. ADA's market capitalization is close to 10 billion USD, with a price of 1.01 USD, but considering its low adoption rate, the price is expected to remain relatively high in the short term. Although it may reach 2.00 USD by 2025, its growth potential is lower than that of Rexas Finance, which aims to leverage tokenization technology to tap into larger markets.
The cryptocurrency market has always been a process of survival of the fittest! If you don't want to be eliminated, you must make changes!
Every penny you earn is a realization of your understanding of the world; every penny you lose is due to your cognitive shortcomings. The greatest fairness in this world is that when a person's wealth exceeds their understanding, there will be 100 ways for society to harvest you!!
Until your understanding and wealth match each other. Waiting for a bull market is the most agonizing!
But if you wait until then, you'll know what it means to reap rewards after hardship. Everyone should definitely not leave the market, the hard days are about to end, and a violent bull market is coming!
