Hello everyone, I am Trading Insight. This article and the content below are based on our perspective. You read and refer to the content to gain more views. Not investment advice, thank you.
👉 Currently, BTC is maintaining at 75,800 and continuously testing to create a new ATH above 76,500. In the short and long term, BTC can continue to rise and conquer larger price ranges at 778k - 80k or 85-100k could all occur.
👉 Conversely, Altcoin is very weak, actual money is being mostly absorbed by BTC, the DOM index is maintaining at 60%. This is also the reason why Altcoin has not been pumped back. Because Altcoin does not have money to pump, while the cash flow from the outside is not coming in as the market is not attractive enough to attract new investors and old investors back. This process will take quite a long time, it cannot be completed in a few days or weeks.
👉 In the last 2 weeks, Altcoin has been gradually pumped but still not significantly. The actual value is too low. Compared to the last price increase in March 2024, it is still not significant, not to mention 2022 and 2021. Therefore, the growth potential and real FOMO of Altcoin are still not sufficient excitement.
🔥 Below is Total 3, representing the market capitalization of Altcoin on the D frame. In the short term, a correction might occur, with a process of a short price drop of about 10-30% of the actual value of Altcoin, then sideways maintaining gradual increase and the real Altcoin season will occur. Q4 this year seems not to be pumped yet, but we have to wait until Q1 and Q2 next year. Q4 2024 should be a stepping stone for a stronger price increase cycle. Additionally, DOM also needs time to adjust.
This is an image of total 3, expected to move like this.
Trading Insight publishes reference content based on personal views. You can utilize your own perspective and make your own decisions. Thank you to the readers who have read this article.
