From now on, Bitcoin is no longer 'sucking blood', but is starting to 'bleed'. What does this mean? It means that Bitcoin's growth rate has gradually slowed down, and more money may flow to other coins, especially some altcoins. If you do not blindly chase after rising prices and only choose those coins supported by leading or strong investors, you typically won't lose too much.
For example, some public chain coins that have performed well recently, such as XTZ and FTM, as well as some meme coins like WIF and Floki, have also performed well. Therefore, if you want to make big money, the current main battlefield should be meme coins. If you feel that these coins have not risen enough, that's okay; a short-term surge of dozens of times is indeed unlikely unless there is a large-scale interest rate cut, then market conditions could change significantly.
Future trends of Bitcoin
What might the trend of Bitcoin look like next? In fact, the current trend is very similar to 2020. It started rising in October, peaking around November 25, nearly doubling. Back in 2020, Bitcoin rose from 10,000 to 20,000; this time, it has risen from 50,000 to 100,000.
However, the last Friday of November each year is 'Black Friday', a shopping frenzy in the West, where many retail investors withdraw their money to spend. This leads to capital outflow in the cryptocurrency market. Although the total amount of money is not large, many people will anticipate a pullback and sell early, which increases the magnitude of the pullback.
Looking back at last year's 'Black Friday' market, the pullback was 16%. This year's pullback may be slightly smaller, but still pay attention to the support level around 87500. If the price of Bitcoin can drop to this level, it would be worth considering entering the market. If the price of Bitcoin exceeds 90,000, that would also be a good support position.
In the last cycle, after Black Friday, the price of Bitcoin pulled back but then slowly rebounded, and it was only after two weeks that it started to rise significantly. This time the situation may be similar.
Strong performance of Ethereum
Everyone should have noticed that Ethereum has been performing very strongly lately. When large funds entered the market, Bitcoin experienced a sharp drop, but ETH remained stable and consolidated. Once Bitcoin recovers, ETH will begin to explode. Even if there is a pullback, it is still reasonable to enter the market.
Public chains like ETH and SOL, as well as some smaller coins, can be bought at lower prices when they drop. Once the cryptocurrency market enters early December, it is expected to see a new wave of rise.
The current stage of altcoins
Currently, the performance of altcoins is still in the early stages. Don’t be fooled by the sharp rises of some established altcoins; this is just the beginning. The exchange rate of Ethereum is starting to reverse, and ETH ETFs are also beginning to see capital inflows. Next, everyone can look forward to Ethereum's upward trend, even though there may not be any particularly favorable news at the moment, I believe it will come soon.
Once Ethereum experiences a surge, altcoins and new coins will become active. Everyone can pay attention to this rhythm and seize the right time to buy.
Future trends and sectors
Which sectors are the most worthy of attention in the upcoming market? From now until the first quarter of next year, if the U.S. economy does not experience a significant recession, unemployment does not soar, and there are no liquidity crises or other black swan events globally, then the market environment should be good.
In addition to these macro conditions, there are also some favorable factors. For example, the market after the election may perform well, especially on January 20 when Trump might be re-inaugurated. Based on historical experience, the market usually performs well in the first hundred days of a new president's term.
For the cryptocurrency market, there may be further easing policies in the future, expectations for tapering will end, and there may even be more favorable laws and policies regarding cryptocurrencies, all of which could drive the market to continue rising.
Which cryptocurrencies and sectors are worth looking forward to?
In this case, which cryptocurrencies or sectors are worth paying attention to?
I believe meme coins are definitely a good choice. Especially if Ethereum continues to rise, it may drive meme coins on the Ethereum chain. The investment opportunities for meme coins are usually related to market speculation, capital inflows, and project narratives, so you need to pay attention to these factors.
Additionally, the recent popularity of Dogecoin is due to its strong speculative atmosphere, especially as Musk's mentions have boosted market sentiment. Moreover, coins like Dogecoin have already gone through a washout, and their liquidity is relatively strong, which is why their current prices have performed well.
Other sectors, such as public chains, artificial intelligence, gaming, etc., may also become investment hotspots in the future. Overall, any investment requires constant attention to market changes, understanding which factors are driving the market up and which may lead to pullbacks, and managing risks accordingly.
