Bitcoin has fluctuated between $95,000 and $98,000 in recent days, and the current price is $96,100. According to the current trend, it will go down for a while, and in the medium term, it is still a bullish trend. But I still think that the upward space of Bitcoin is not very large, and the cash position is still good. The current stage belongs to the second stage of the bull market, and the main funds of Bitcoin are about to flow to the second-tier mainstream currencies.
The first stage of the bull market was before the US election. Bitcoin took the lead in early October, followed by Dogecoin. As of now, Bitcoin has increased by 70%, and Dogecoin has increased by 450%. Then they both went sideways. The start signal of the second stage is the doubling of XRP, WLD, and ADA. The current market signal is that Bitcoin may pull back at any time, and the pullback of Bitcoin is likely to drive other small coins and altcoins down together. By then, the big cake will fluctuate sideways, and the main force will enter the second-tier mainstream coins, driving the second-tier mainstream coins to explode!
Which coins should we focus on in the second phase of the bull market?
Judging from the current situation, in the second stage of the current bull market, the old second-tier mainstream coins are the main force in the second stage of this bull market! Litecoin will have more potential in the future. Litecoin (LTC) is a cryptocurrency based on Bitcoin. Its function is to provide faster transaction confirmation speed and lower handling fees. The total supply of Litecoin is 84 million, which is four times that of Bitcoin. It is not an unlimited coin, and like Bitcoin, it has a four-year halving mechanism. At present, Litecoin has risen by nearly 40% in the past four days and is currently around $128. I think there is still a lot of room in the next second stage!
Secondly, there is a second-tier mainstream currency with great potential, Bitcoin Cash (BCH). It is a permissionless digital currency that realizes the original concept of Bitcoin as "peer-to-peer digital cash". The important thing is that it is called the prince! The total amount of BCH is fixed and is not affected by the unlimited issuance of coins. It is a stable digital currency. Although BCH has risen from $360 to a maximum of $568 in early November, I think BCH has not started in this bull market yet, and there is still a lot of room for it to rise. In this bull market, BCH still has 2-3 times more room to rise!
If you think that the unit price of these coins is too high and the price is too high to be suitable for purchase, there is another coin with potential - EOS. EOS is also an old mainstream coin. It is a decentralized digital currency based on blockchain, mainly used to provide infrastructure for decentralized applications (DApps) and smart contracts. The current market value of EOS has exceeded 1.7 billion US dollars. It has reached its highest level since November 2022. In the past 30 days, the price of EOS has risen by as much as 165%. Despite this, EOS is still 95% lower than its historical high. In the second phase of this bull market, EOS still has potential, looking at 2 US dollars!
In addition to these, I think Ethereum Classic (ETC) also has room. ETC is a decentralized cryptocurrency based on blockchain technology. It is mainly a seed player of Ethereum. Ethereum has performed mediocrely in the current bull market. There will be more news about Ethereum in the future. When Ethereum takes off, that is the day when Ethereum Classic rises!
Including the current wld, ADA, and XRP, they are performing relatively well in the current stage. If you are aggressive, you can still rush in. If you are conservative, you can choose to enter the market at a lower point after the correction. I can only say that there is still a lot of room above.
The advantage of these second-tier mainstream coins is that they are more stable than altcoins, cheaper than Bitcoin, and have more room for growth. When these second-tier mainstream coins rise, the second stage of the bull market will end, and the third stage of altcoins and local dogs will take off!
Under the current market conditions, there are many opportunities, but investment always comes with risks. If you want to reduce the risk, quickly follow me, let's communicate and discuss! I am Lei Ge, codenamed Wenjian! I have been focusing on the cryptocurrency circle for seven years. In-depth research on primary projects and secondary markets. Learn more about high-quality primary project information and secondary buying and selling point recommendations. Just to escort your investment in the cryptocurrency circle!