Today is December 12, 2024, Thursday. After a sharp decline, a rapid rebound has occurred. Everyone should remember to take some profits if they haven't reduced their positions previously, to avoid the re-emergence of extreme market conditions. Don't panic excessively when the market is down, thinking of cutting losses. Most of this is due to being over-leveraged. If your position isn't large, a decline can actually be a good opportunity to accumulate more. Also, during an uptrend, don't forget the tough days; controlling greed is essential so you can have the capital to buy the dip when others are panicking.
Today, the altcoins that rebounded most notably are AAVE, LINK, and SUI. The main reason for the strong rebound of AAVE and LINK is because the Trump family purchased these two tokens, leading to further market uplift. Since they have already risen so much, I do not recommend chasing them further.
I recommend a key layout recently worth focusing on: BNB and the Binance ecosystem. Currently, BAKE has also retraced significantly. According to patterns, Binance launches a new project every month. The last major new launch for BNB was on November 14. Given the recent favorable market conditions and the previous project USUAL that saw a continuous rise, the profit effect is substantial. Therefore, if there is another new launch, the hype will surely be considerable, and BNB is likely to see a wave of sustained upward momentum! In terms of short-term trading, the risk-reward ratio is very favorable!
What I like about high volatility is ambushing CAKE for a small gain, and for spot trading, I believe BAKE is more suitable for short-term doubling.
Additionally, when participating in altcoin markets, we cannot demand stability from Bitcoin while also expecting large gains from altcoins. There are gains and losses; altcoins can rise quickly, but they can also drop all the gains from a week or even months in a single day. Never overestimate your grasp of human nature. When you think you are chasing high on an altcoin or heavily investing in one, it's best to know when to stop. However, at the crucial moment to stop, you might make the wrong choice due to greed.
I have been sufficiently educated during this bull and bear cycle. Long-time followers know that I have always been quite optimistic about the Ethereum sector, especially Ethereum's L2. I have mentioned it in my articles multiple times. At that time, ARB and OP were successfully controlled, and I thought STRK would also perform well. Now we can see STRK's performance, especially after experiencing some pitfalls and optimizing strategies. I thought I could manage the risks well, but on August 5, Ethereum dropped more than 20% in one day, which made me realize I had indeed overestimated my grasp of altcoin risks. Therefore, in this circle, everyone must always remember one thing: living longer is more important than living well in the short term!
In our circle, being conservative does not mean you can't make big money; the important thing is time. Aggressive players might indeed make a lot of money in the short term, but they are also likely to lose their principal due to their aggressiveness later. In summary, I want to share four words with everyone: profits and losses come from the same source!
The article ends here for today; see you next time!
