Today, the market shows a clear bullish trend. After Bitcoin reached a low of 9,200 USD, it launched a strong rebound, approaching the 9,900 USD level.
Observing the daily chart of Bitcoin, we can see it presents a small bullish candle with a very significant long lower shadow. It is worth mentioning that during the three consecutive days of decline, trading volume showed a trend of moderate increase.
The appearance of the long lower shadow fully indicates that the bearish forces were very strong for a time; however, the final bullish candle signifies that the bullish forces successfully took the upper hand in this fierce contest and won.
However, analyzing from the daily level trend, Bitcoin is unlikely to immediately experience a V-shaped reversal back to high levels but is more likely to go through repeated oscillations. Given this, in the current market environment, our focus should not be limited to Bitcoin itself but should also be directed towards altcoins with huge potential.
Let's look at the secondary market: The new generation of public chain SUI is really strong. The rebound is very fast. Why do we keep talking about public chains? Let's show everyone a chart.
Look at which sectors capital favors, which sectors have the most financing—yes, it's infrastructure, primarily public chains. Moreover, more than half of the top 30 projects by market cap in crypto are public chains. So, as ordinary users, what should we invest in? It's clear: at least the projects have the funds to drive prices up. If the financing amount is not significant, how can they drive prices up, right?
Looking at SUI, the total financing amount is 336 million USD, and the investors are all top players in the industry: A16Z, Binance Labs, Coinbase Ventures, Jump Crypto, etc.
Looking at the top five exchanges globally, Binance, OKX, Coinbase, Upbit, and Bithumb are all included, with the Korean exchange still dealing in KRW, having very good depth. The trading depth is far superior to many projects. This is really a good target for capital to eat fluctuations and rebounds. Isn't it approaching a new high again?
The only concern is that this MC is approaching the top 10. There is potential for future growth, but it is not very large anymore. However, the strength, background, and trading conditions are all quite good.
ZEN skyrocketed by 70%! The super dark horse is about to take off!
Everyone can pay more attention to which coins Grayscale is accumulating, and set up positions in advance, like ZEN; Grayscale keeps buying.
Back to the point: Many people still don't understand what ZEN means. Grayscale has bought 300,000 in three days and shows no signs of stopping, but the total supply of ZEN is the same as BTC. ZEN at 1,000 USD is just one-thousandth of BTC.
Under the situation of Grayscale continuously buying, the chips will soon become scarce, entering a frenzy of chip grabbing stage, with no sell orders, only buy orders. ZEN is an incredibly certain big opportunity recently, no doubt about it. A 50x return is not just talk; it really has hope.
The callback is an opportunity to increase positions. In the past three days, Grayscale has bought 300,000 ZEN. Let's do a simple math problem: if Grayscale buys an average of 100,000 ZEN a day, what will happen in six months? ZEN has been consolidating for three years, and anything below 100 is considered the bottom.
PNUT, NEIRO, ACT: Can they replicate BOME's comeback?
Here, I will also discuss this issue in the article.
Let's review BOME's performance in the first half of the year; the situation of these coins is somewhat similar to it:
The decline is similar: BOME has fallen 75% from its peak, BONK even dropped 80%, but later rebounded and broke through previous highs. Even if PNUT and NEIRO cannot return to previous highs, there is still a certain possibility of doubling from their lows.
Signs of market manipulation: The founders of PNUT and ACT previously had some controversial actions, and BOME also had similar behaviors at that time, which were considered signs of price manipulation. So, this might also be one of their manipulation tactics.
The potential of the CB roadmap: MOODENG and PNUT have both appeared on CB's roadmap, but the price rally has yet to begin, and market expectations have not been fully released.
However, it is important to note that there may be a secondary pullback during the rebound. FUD (fear, uncertainty, and doubt) might cause panic, but it does not significantly impact the overall trend. The key is to remain rational and not be misled by the market makers' manipulative actions.
Do you think these logics are reliable? What do you think about this possible rebound opportunity?