Bitcoin takes a deep breath, institutions are optimistic for next year!
Has Bitcoin made you a bit drowsy these days? It’s fluctuating between 93000 and 98000, like taking a deep breath, preparing for a big move. But don’t rush; institutions generally hold a positive outlook for the market next year. Personally, I think we are currently in an upward phase.
After all, the market soared like a rocket in the past two months, and it needs to catch its breath and stabilize its pace! You know, market changes quickly like flipping a book, we need to stay calm and composed.
So how will the market move next?
Let’s start with Bitcoin; it seems to be 'looking for direction' right now. If no bad news interferes, it might suddenly surge one day. But at this moment, don’t bet all your funds; it’s advisable to invest small amounts regularly, taking it slow. Have a bottom line in mind; if it drops another 10%-15%, we can still average down.
Looking at BNB, it is currently hovering in the range of 680 to 720; today’s performance is a bit sluggish compared to yesterday, possibly because the airdrop activity is about to end, and friends who made money have withdrawn.
As for Ethereum (ETH), it has been fluctuating between 3200 and 3700, also waiting for a breakthrough. Although Bitcoin is quiet, Ethereum might not be idle; institutions have shown some favor towards it recently, increasing their holdings significantly!
Let’s talk about today’s BTC technical analysis: from the candlestick chart, the 1-hour chart shows a rebound after a drop, while the 4-hour, 12-hour, and daily charts are still in a downward trend. Today’s resistance level is at 96500, with support around 91000 dollars.
BGB has fallen nearly 20%!
But seeing everyone, especially the teachers in various groups, displaying their earnings charts on the chain, I feel a bit anxious. Does this mean we have reached a short-term peak signal? At least I caught this signal on BGB and ran away quite timely.
I still believe in the long-term potential of the AI Agent sector; projects like Ai16z, Virtual, Aixbt will continue to explode. And I believe 8 dollars is not the peak for BGB. As the saying goes, 'buy when nobody cares, sell when everyone is excited.' Some positions can be traded, even if sold too early, making a profit is still a good thing.
I have already taken some profits from the on-chain earnings and will place low orders for the assets I am optimistic about. I’ll chat with other teachers tomorrow, hoping to gain more new insights.
However, the New Year is approaching, and a big market movement is coming soon!
Right now, Bitcoin is dropping significantly, while Ethereum is rising; this could be a signal that the market is starting to change, entering the second phase. It’s worth noting that I previously mentioned that FTX will soon start compensating from January 31, just 4 days left, let’s see if FTT will show some performance.
The AI Agent projects on the chain are currently very popular, with new ones launched daily, but the secondary market’s AI is still relatively quiet. Other sectors are similar, all waiting for the wind to come.
Based on this trend, will the rhythm of sector rotation be similar to the beginning of this year, starting with AI, then meme coins, and then to other sectors? Let’s wait and see!
Good news, the DeFi token ENA that I hold has performed quite steadily during this market correction.
However, there’s bad news: the three new coins—ACT, Neiro, and Pnut—hit new lows again at midnight!
Recently, some group members feel that the current trend resembles the daily downtrend after 519 and asked me when I think it will bottom out and rebound.
Actually, I think this time is a bit different from 5.19. Although both involve deleveraging, 5.19 was a major correction after a huge market explosion, belonging to a big crash. The current situation actually resembles the deleveraging phase before an uptrend, with 90% of altcoins not having risen much yet, just starting to increase slightly.
The bear market is a period of accumulation, while the bull market is the time to cash out!
2024 is about to end, where is the next stop for the crypto world?
This year, the crypto world has experienced massive reshuffling; some chose to exit, while others chose to hibernate, but opportunities always belong to those who layout in advance!
Historical data tells us that the second year after each halving often acts as a catalyst for a new market trend. Will we see this pattern repeat? First, Bitcoin rises, then expands to mainstream coins and emerging sectors; this could be the upcoming roadmap.
Global regulations are accelerating; although it seems tightening, the compliant market has paved the way for institutions to enter. BlackRock’s ETF is just the beginning; more traditional capital may fully lay out Web3 in the future. Major institutions are paying attention to these directions; what are you still hesitating about?
There are countless players in the crypto world, but those that can be called 'tough characters' are probably just these 10 types:
Warriors holding a large number of altcoins: dreaming of the day of becoming wealthy, but racing daily against the risk of liquidation, heart rates soaring like a roller coaster.
A warrior who fails repeatedly but never gives up: not afraid of losses, not giving up after losses, always feeling that the next wave can turn the tables, continuing to push forward!
Believers who insist on investing in only one coin: they firmly believe in one coin, regardless of ups and downs, holding on tightly, no matter what others say, always sticking to their choice.
Hardcore players trading without a computer: the phone is the only weapon, watching the market anytime, anywhere, walking at the forefront of the market.
Mysterious figures who never discuss the crypto world: low-key, mysterious, quietly making money, others don’t know what they are doing, but when they finally act, it leaves people in shock.
The conservative type who decisively clears positions after earning about 20%: not greedy, not panicking, as long as there’s a profit, lock it in, steadily harvesting without exposing themselves to too much risk.
Adventurers who dare to invest heavily without studying: relying on intuition and courage to gamble on the future, gains and losses all depend on fate, playing for a feeling of 'having a big life.'
Fearless individuals who dare to invest without a fixed income: no fixed income, but always feel that the next investment is an opportunity for a turnaround, full of courage, with a very stable mindset.
A recluse who claims to never buy coins: outsiders can’t see the signs, clearly looking like 'I don’t play,' but the wallet is quietly exploding every day.
Long-term investors who hold their positions for more than six months: they don’t see short-term fluctuations, endure loneliness, rely on time and compound interest to earn value, and steadfastly wait for future returns.
Which type are you?
Finally, here are some important news updates:
1. Since November 11, MicroStrategy has increased its holdings by about 192,042 Bitcoins, while BlackRock has also added about 118,795 Bitcoins.
2. Michael Saylor released Bitcoin tracking information for the eighth consecutive week, possibly indicating he is increasing his Bitcoin holdings.
3. The CEO of Tether retweeted some posts, stating that USDT will not be deemed illegal by Europe on December 30.
4. FTX will begin repaying $16 billion in cash, with claims processing officially starting on January 3, 2025. According to FTX’s announcement, the court-approved Chapter 11 reorganization plan will take effect on January 3, 2025, becoming the record date for the first distribution.