Institutions and various countries are madly buying Bitcoin, aiming for the 100,000 mark.
November 21, 2024
Today, we won't talk about trading, just share our feelings...
First, let me ask you all, how long have you been in the cryptocurrency circle? How many bull markets have you experienced? How has your overall operation been?
I have been in the cryptocurrency circle for over ten years, during which I have experienced three rounds of bull markets. The common point of each bull market is Bitcoin halving and high market sentiment.
2016-2017: The second Bitcoin halving occurred with mining output, the first futures contracts were launched, and market sentiment and speculation heated up!
2020-2021: Bitcoin halving, global economic uncertainty, institutional investors entering the market, improvement of cryptocurrency market infrastructure, and high market sentiment.
2023-2024: Bitcoin halving, spot Bitcoin ETF approved for listing, Trump's victory, and various countries and institutions' capital madly buying in. The market continuously shows extreme greed and is in a state of frenzy.
As for how many bull markets you have experienced in the cryptocurrency circle, I can't say, but the ones who really made money were during the bull market of 2020-2021, followed by the season from the end of 2023 to the beginning of 2024.
In November 2024, Trump's victory pushed Bitcoin to a historic peak. During this past half month, many millionaires and multimillionaires emerged. As long as you dare to bet correctly, you can take off. Some people made a fortune in Bitcoin, while others also had a great time speculating in the Meme sector. It seems that in November, opportunities were everywhere, but how many did you grasp?
The bull market in November pushed Bitcoin up to around 98,000. From the current trend, this is not the end, even if it breaks through the 100,000 mark. There is also the 120,000 mark ahead, so under this strong momentum, it is not time to talk about a peak.
From the perspective of retail investors: after such a rise, there should be a correction. As a result, they shorted from 70,000, shorted from 80,000, and shorted from 90,000, thinking it wouldn't rise anymore. But as it approached the 100,000 mark, they were completely convinced...
From the perspective of institutional investors: with various countries buying support, institutions take the opportunity to buy, while retail investors desperately short. We can pull it up recklessly, blowing up retail investors. What you think is the peak may actually be only halfway up...
My thought process: on the path of going long, move forward bravely, starting to be bullish around 67,000 and going long all the way to near 98,000. Currently, this is far from over and continues to look up...
To be honest, in this wave of the bull market, there are definitely more people losing money than making money because Chinese retail investors are afraid, fearful, and fear heights. American retail investors live in fear of the stock market rising every day. I also said that Chinese retail investors have been living in fear of Bitcoin rising in November, becoming more fearful as it rises.
Bitcoin is between 60,000 and 70,000, and Chinese retail investors like to go long. This is the ingrained thinking of Chinese investors. Conversely, when the bull market arrives, they become fearful and miss out, watching others profit. This psychological pattern is similar in the stock market, and it is deeply ingrained. To trade Bitcoin well, you must change yourself and your thinking patterns...
Following the party leads to victory. Therefore, currently following the global countries and institutions to buy and long will allow you to laugh to the end. Don't be influenced by market short-sellers. Currently, there is no peak in sight, Trump hasn't taken office yet, and the market hasn't crashed significantly, so why are you panicking and shorting?
