Good evening, brothers. The current market still maintains a bullish trend. Although some events occurred yesterday, especially in South Korea's cryptocurrency market, we won't go into detail on some sensitive topics; everyone should know what happened. In short, this is just a minor episode in the market and will not have a long-term impact on the overall trend.
Currently, short-term pullbacks in the market may actually be helpful for future upward trends. Such minor adjustments can help eliminate leverage in the market, resulting in a healthier market when trends resume upward. Although the events in South Korea led to a brief decline in the cryptocurrency market, this did not change the overall bullish trajectory. Many people panic when they see the market drop, but this panic is unnecessary; as long as the reasons are clear, it is important to remain calm.
Altcoin Market in a Bull Market
The current market has increasingly entered an 'altcoin' market, where daily increases of 20% to 30% have become common, which is usually a sign of a bull market. However, such trends can also accumulate risks.
So, everyone should be careful and not blindly chase high prices when altcoins are soaring. When performing swing trades, one should reduce holdings at highs, while long-term investments should focus on buying and not selling (unless there are substantial profits). Especially for coins like BNB and OKB, they started to rebound this morning, and the increase is significant.
This is due to rumors that CZ might sell part of Binance's equity, and the acquirer is likely to be a powerful consortium. Therefore, in the long run, the prospects for BNB still look promising, but the key is to be mindful of your cost price and avoid chasing high prices.
Should we buy the coins that Sun has pushed up?
Recently, Sun has raised the price of his coins by selling over 2,000 Bitcoins, leading to price increases in TRX and other Tron-related coins like JST, SUN, WIN, etc. It seems like Sun is leveraging market hype to drive up the price of his coins. However, such increases may not be sustainable, and everyone should operate cautiously to avoid chasing high prices. Sun has previously been sued by the SEC, and although he has used various means to inflate the prices of his project’s coins, this operation carries high risks, and investors should avoid blindly following suit.
SEC Implements Cryptocurrency Market Regulation
The SEC (U.S. Securities and Exchange Commission) has recently strengthened its regulation of the cryptocurrency market, and many coins previously labeled as securities by the SEC have seen good price increases recently. For example, coins like ADA, ALGO, ATOM, FIL, FLOW, ICP, MANA, MATIC, NEAR, OMG, SOL, etc., have all achieved a certain rebound in the market. Therefore, everyone can pay attention to those coins that have not yet rebounded to see if there will be another coin with significant increases.
Overall Market Trend
Now, the overall market's focus is gradually shifting from Bitcoin to altcoins. The price of Bitcoin has already risen quite high, leaving little room for further increases. More importantly, the market liquidity is starting to transfer to other currencies, especially Ethereum and some altcoins. Therefore, in the short term, Bitcoin may experience adjustments, while altcoins may have more opportunities.
Opportunities and Risks in the Market
Although it is currently a bull market, short-term pullbacks are inevitable. Therefore, everyone should remain vigilant, especially as the market rises, remember to manage your positions well, and avoid excessive leverage and being fully invested. While the market is filled with opportunities, if we lack capital, there is no opportunity to speak of. While earning profits, consider the risks, and reasonably withdraw some positions for emergencies.
Pay attention to the flow of funds in the market
Recently, we have seen the inflow of funds into Ethereum ETFs surpassing that of Bitcoin. This indicates that institutional interest in Ethereum is growing, and it suggests that ETH may become one of the main currencies in the market in the future. Moreover, there are many potential coins among altcoins, such as SOL, which may also launch their own ETFs next year. So, everyone can pay attention to the fund flows of these coins.