Today is Tuesday, October 29, 2024. Today, the crypto market has seen a general rise led by Bitcoin. Bitcoin has surged to around $71,600. The first time Bitcoin broke through $70,000, Ethereum was around $4,000. The second time Bitcoin broke through $70,000, Ethereum was around $3,900. The third time Bitcoin broke through $70,000, Ethereum was around $3,300. The fourth time Bitcoin broke through $70,000, Ethereum was around $2,600. By comparing this set of data, we can see that Ethereum has indeed underperformed the market this time, which reminds me of the 20-year high. In the scenario of HT being deployed at the bottom, Bitcoin had already broken through the historical high at that time, but HT had been trading sideways around 4 US dollars, unable to go up or down. However, it started a crazy catch-up rally after the new year, and it took five months to rise from around 4 US dollars to 40 US dollars, including PEPE, which was ambushed around 0.00000112 in November 2024. Bitcoin broke through the historical high in March this year, and PEPE started a crazy rise mode at the end of May, rising directly from around 0.0000012 to 0.00001725, an increase of nearly twenty times.
Compared with HT and PEPE, Ethereum is definitely a more valuable target. Therefore, it is the best time for us to ambush when there is no rebound yet. When it really starts to rise, it is the time for us to ship out the goods one after another. The price may not rise at any time, so just hold the position patiently.
The big bitcoin sets the trend, and the younger brothers follow it. This is a relatively healthy trend. Currently, the big bitcoin market is in a blood-sucking market. Generally, in the later stages of the market, the copycats will run rampant. Therefore, it is normal that there are many copycats at the moment. It also gives us enough time to lay out the targets we are optimistic about.
Ethereum is currently under strong pressure at around $2,730. Given the bullish trend background, once it gets a chance to fall below $2,600, it will be a good ambush position. In the medium and long term, you can ignore short-term fluctuations. There is still a chance to sprint to $4,800 by the end of the year. After all, BNB has already broken through a new high, and SOL is not far away from a new high. Ethereum is expected to upgrade and hype next year, and Ethereum's ETF itself has not really taken off for a while. Therefore, I personally think that buying spot at the current position is still very cost-effective!
The A-share market opened above 3,300 points this morning and should continue to rise after a few days of sideways trading. It should not be a problem to break through 3,700 points before the end of the year and continue to rise slowly. CFX is still a place for continued fixed investment. Some people think that you can even increase your fixed investment position a little bit. What you are buying is the future. I am personally optimistic about CFX.
That’s all for today, see you next time!
