Bitcoin just broke a new high yesterday, and it broke another new high again early this morning. It seems I was right yesterday; the new highs won't deviate much after being established, focusing mainly on consolidation. Most mainstream coins are also experiencing slight fluctuations. This current market condition is the most frustrating and difficult to navigate, with high positions and low trading volumes, leading to a tug-of-war between bulls and bears.
Let me put it this way: if it really goes up, it will be a major upward wave at the weekly level. Bitcoin at 150,000 cannot be stopped! Analyzing the likely future trajectory:
The explosion of altcoin season requires the ETH rebound to gain momentum. Over the past two days, I have observed that ETH has been seeking to break through the 4000 threshold, and it seems ready to make a push. The upper range of 4250-4350 should be easily reached.
Ethereum's efforts in the layer two series will naturally follow suit. Everyone can casually pick a few coins to enter, and a conservative rebound benefit of 10%-30% should still be achievable. For details, see the annotations in the image.
In the altcoin market, most projects are being 'sucked dry' by Bitcoin, with a general decline of around 10%.
However, CAT's performance is particularly outstanding, rising over 40% against the trend, mainly because it is about to launch spot trading on Binance.
The floor price of the fat penguin NFT, which is not in a general decline, has recently surged by over 55%!
With Bitcoin breaking through 100,000, the crypto market has quickly entered altcoin season, with funds flowing back into the NFT market, stimulating the performance recovery of several NFT projects. The fat penguin NFT (Pudgy Penguin) has also received a warm market reception, with the floor price surging over 55% in a single week. Additionally, Mocaverse's floor price has also dropped below 2.9 Ether.
Since its launch in 2021, the fat penguin has quickly attracted a large following in the crypto community with its 'cute penguin' image. Its IP is not only booming in the virtual market but has also successfully penetrated the offline market through collaborations with global retail giants like Amazon and Walmart, expanding its influence.
According to CoinGecko data, the current floor price of Pudgy Penguins has surpassed 32 Ether, approximately 122,000 USD, setting a new historical high.
The fat penguin NFT is expected to 'break out' in this bull market. The key reason is that the project team announced on December 6 that they will launch the official token PENGU on the US blue-chip public chain Solana. As soon as this news was released, the floor price of fat penguins skyrocketed that day, and the market responded very positively.
Here are a few tips to avoid missing out:
1. The upward trend is established and will not be easily broken. Each time it retraces to the trend line is an opportunity to enter; be bold in entering.
2. The momentum of the upward process is a continuous approach. The further away from the trend line, the greater the risk, and the smaller the profit above. Don't chase the market based on feelings; your feeling that something will rise is just an illusion created by the market makers. Chasing highs will lead to losses.
3. Go with the trend; trading cryptocurrencies is about trading the trend. When the trend is bullish, the entry point is also very important. The risk of buying Bitcoin at 60,000 is very different from buying it at 100,000. Therefore, seizing the opportunity at key points when the price drops to the trend line is crucial.
4. As long as you don't chase the highs, the retail investors can become the smart money. Right now, we are still in a very good mid-stage of the bull market, not yet at the big explosion stage. At this time, manage your positions well, allocate your account's funds properly, and in the next half year, it shouldn't be a problem for your account to conservatively triple or quintuple.
