Recently, Bitcoin has dragged the whole market down sharply, like a merciless meat grinder. As early as December 17, I warned everyone that the market might need to adjust, and technically, signs of a downturn were showing. I also advised everyone not to open contracts. Friends who took this advice should have avoided this sharp drop. So, what will the market do next? Let me briefly share my thoughts; if you're interested, take a look. This is just my personal opinion, not investment advice!!
This recent sharp decline has many reasons. At the Federal Reserve, old Powell stated that they cannot buy Bitcoin and do not want to change the law, which dampened the market's spirits. Additionally, those who previously made profits now want to cash out and secure their gains. Moreover, we cannot rule out the possibility that large holders intentionally suppress small retail investors. However, to be honest, although this drop was severe, from 108000 to 92280 is less than a 15% decline, which is still relatively good. Many altcoins have been halved, such as Dogecoin $DOGE, which dropped from 0.48 all the way down to 0.262, which is truly disastrous, a 45% drop! Think about the last adjustment when Bitcoin fell from 73777 to 49000; that was truly heart-stopping, and that magnitude was terrifying.
Right now, Bitcoin seems to have stabilized, bouncing back to around 97000. It is estimated that the market will fluctuate around this position over the weekend for some consolidation. This might not be the best time to make random moves, but if you feel the price is right, buying some spot to hold could be a good choice.
$BNB has also experienced a significant drop, falling from a high of 793 to around 620, a decrease of about 21%. However, as a mainstream coin, it has proven to be relatively resilient. If you are skilled at spot quantitative trading, this might be a good time to make some trades and potentially earn a bit.
Ethereum $ETH is in a bit of trouble, having dropped to around 3100 at its lowest point, nearly a 25% drop. After this rebound, it's time to adjust strategies. Fortunately, some institutional ETFs are buying; otherwise, who knows how far it would fall.
Returning to today’s daily $BTC market analysis, from the candlestick chart perspective, the 1-hour level shows an upward trend (momentum is insufficient and about to stabilize), the 4-hour level is upward, the 12-hour level is downward, and the daily level is downward. The intraday resistance level is 100000, and the support level is 94000.
5 cryptocurrencies to watch for a major bull market breakout!!!
Polkadot (DOT)
Polkadot is a new type of cryptocurrency that connects different blockchains. It was created by Gavin Wood, who also helped create Ethereum, allowing data and value to move between networks like Ethereum and Bitcoin without intermediaries. This means that blockchains can work together, making everything faster and more efficient. Polkadot uses 'parachains' to accelerate transactions and handle more transactions simultaneously. In fact, it can process more transactions than Bitcoin and Ethereum currently can. The DOT token is not just money; it also represents a way for holders to influence the development and changes of the network.
Currently, Polkadot looks promising in the cryptocurrency market. Its technology addresses major issues by allowing blockchains to communicate with each other. As more projects look for ways to connect, Polkadot's role becomes increasingly important. The real-world applications provided by DOT go beyond mere transactions compared to other coins. Despite the unpredictable market, Polkadot's strong team and unique practices make it stand out. For anyone interested in the future of blockchain, Polkadot is a project worth following.
Kaspa (KAS)
Kaspa is a new cryptocurrency that stands out due to its unique approach to blockchain technology. Unlike traditional blockchains that can become slow and overloaded, Kaspa uses a protocol called GHOSTDAG. This means it does not discard concurrently created blocks; instead, it includes all of them and organizes them in a meaningful way. This allows Kaspa to process transactions faster—currently at one block per second, with a goal of achieving ten or even a hundred blocks per second. The innovative design aims to reduce waiting times to nearly zero, so transactions can be confirmed almost as soon as the internet connection allows.
With features like fast transaction times and further improvement plans, Kaspa positions itself as a strong player in the cryptocurrency world. Compared to other tokens that struggle to scale, Kaspa's technology could give it an edge. Today's market is always looking for cryptocurrencies that can solve real problems, and Kaspa's focus on speed and efficiency aligns with this trend. Although the cryptocurrency market can be unpredictable, Kaspa's unique approach may make it an interesting choice to watch as the market continues to evolve.
Dogecoin (DOGE)
Dogecoin (DOGE) is a cryptocurrency launched in 2013 as a fun alternative to traditional coins, featuring a Shiba Inu from the 'Doge' meme as its logo. Unlike Bitcoin's limited supply, Dogecoin has no cap, with 10,000 new coins mined every minute. Initially seen as a 'meme coin,' it skyrocketed in value in 2021, becoming one of the top ten cryptocurrencies by market capitalization, worth over $50 billion. This surge was influenced by social media and figures like Elon Musk. Dogecoin's potential lies in its strong community and widespread recognition. During the current market cycle, it continues to attract attention due to its unique origins and active supporter base.
Ripple (XRP)
XRP is a digital currency that operates on the XRP ledger. It is designed to be fast, low-cost, and borderless. Transactions are secure, irreversible, and do not require a bank account for settlement. XRP was created by Jed McCaleb, Arthur Britto, and David Schwartz, with an initial supply of 100 billion units. The company associated with XRP, Ripple, obtained 80 billion units to support development. Ripple uses XRP to enhance network liquidity and has held 55 billion XRP to control supply. The name XRP derives from 'Ripple Credit,' emphasizing its goal of facilitating seamless cross-currency payments. The technology behind XRP shows potential for improving global financial transactions.
Binance Coin (BNB)
With the continuous development and adaptation of the Binance ecosystem, BNB's potential remains strong. The current price of BNB is $711.86, benefiting from its integration with various aspects of Binance's operations, including trading fee discounts, staking opportunities, and DeFi applications on Binance Smart Chain (BSC). Even with market dynamics fluctuating, its role as a utility token ensures a stable and continuous demand.
Looking ahead, the token burn mechanism will bring a deflationary effect to BNB, which may increase its value over time. Additionally, BNB's utility in facilitating cross-chain interactions and supporting new projects on Binance Launchpad keeps it relevant. While its utility is undeniable, broader competition from emerging platforms like BlockDAG may challenge its position as the top-performing utility token in 2025. Currently, BNB's potential continues to attract the attention of users and developers.
The cryptocurrency world has always been a process of survival of the fittest! If you want to avoid being 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 are aligned. Waiting for a bull market is the most exhausting!
But once you wait until then, you'll know what it means to reap the rewards after enduring hardships. Everyone must not leave the market; the tough days are coming to an end, and a raging bull market is on the way!
If you've been stumbling around in the crypto world and can't find direction! Or if you've been losing money! You can follow me.
