Macro Aspects

The Federal Reserve decided this week to cut interest rates by 50 basis points, having changed rates in all but two presidential election years since 1972.

The market is digesting the positive impact of the defensive interest rate cut. Even though the Fed directly cut interest rates by 50 basis points this time, the market did not panic about a recession. The Fed did a very good job in managing expectations this time. It will depend on the new employment data. If the employment data can remain strong, then the prices of risky assets will most likely continue to rise in the future.

Market conditions

Bitcoin is still relatively strong, and now it has reached the pressure zone. There is a lot of pressure in the 64,000-65,000 area. It is not easy for the price to break through in one fell swoop. If it can be adjusted at this position and make a shock, the probability of going up again will be greater. The large-scale shock structure is still there. The high-level trend has a little bit of a descending channel. The current position is also the upper edge of the channel. If it can break through strongly, the probability of resuming the upward trend in the future will be very high.

Linked with ETH, the exchange rate will rebound from oversold. When the second half of the bull market begins, the exchange rate will start to rise.

As for the altcoins, funds began to become active, the market saw a general rise, and the money-making effect began to become obvious. This round of rise seems to be real, because most altcoins have experienced bottom construction. In the past two days, many currencies have been pulled up more resolutely. This kind of rise is the result of the main force. If the capital side can continue to be active in the future, the altcoin market is likely to gradually open up.

The bull market is coming! 5 cryptocurrencies with a 100-fold increase by the end of the year!

1.OP

Optimism (OP) is Ethereum’s leading layer 2 scaling solution designed to increase transaction speed and reduce gas fees without compromising security. As more and more projects seek efficient alternatives to the Ethereum main network, Optimism provides developers and users with a cost-effective and scalable platform. As the ecosystem develops, OP is expected to experience significant growth in 2024, making it a promising option for those interested in Ethereum scaling solutions.

2.BE

Sei Network (SEI) is quickly gaining recognition as a blockchain optimized for decentralized finance (DeFi) applications. With ultra-fast transaction speeds and a unique order matching engine, Sei Network provides a streamlined experience for DeFi developers and users. As the demand for professional DeFi infrastructure continues to grow, SEI could capture a significant market share, making it an altcoin to watch closely.

3.TON

TON is the native cryptocurrency of Telegram Open Network, a blockchain project that aims to combine blockchain technology with the popular messaging platform Telegram. By providing fast, low-cost transactions within the Telegram ecosystem, TON is expected to attract a wide user base. Its combination with a globally popular application could lead to substantial growth, making it a key player to watch.

4.THERE IS

A top choice for investors due to its commitment to sustainability, scalability, and academic rigor. Cardano utilizes a proof-of-stake consensus mechanism to provide a more energy-efficient blockchain solution than its competitors. With the continued development and continued upgrades to the decentralized application (dApp) ecosystem, ADA is well positioned for growth in 2024, making it a good choice for those looking to expand their portfolios.

5.PEOPLE

Another dark horse has arrived in this round of bull market, but the recent trend is worrying. Due to the sharp price fluctuations, investors have suffered frequent losses in contracts and spot. Although the risk is high, the potential for profit is huge, which is really unpredictable. Friends on the bus must act with caution! However, MEME concept currency is like this. Despite the amazing rise and fall, it still attracts the favor of countless investors. Judging from past performance, People is definitely a strong currency, and the future is promising!