Today, I will talk about my opinion on small coins. In this round of market, BTC/SOL/BNB/PEPE have been rising from the beginning to the end. At first, the BTC ETF led the rise through the coins with favorable expectations. After that, it was completely the MEME sector led by PEPE that took over the rising market and became the leader in one fell swoop, while small coins did not produce the spectacular rise of thousands of coins. I have always emphasized that the funds in the market are still in a few coins such as BTC, so we must be patient and wait for the opportunity. In 2019-2020, small coins were also dead, but at the end of 2020, they were rising one after another.
So what is the reason why the small currency did not rise in this round? I personally think there are the following reasons:
1. After 21 years of craziness, most of them have completed their mission of raising money. The project owners have made a lot of money, and only those who are stuck at high positions are left standing guard. The project owners use the money they have raised to do other projects, such as SAND using the money they have earned to do EDU. This type of currency will not rise again in this round or in the future, because for such project owners, starting a business is much easier than maintaining a business, and there is no need to spend money on laborious things.
Second, most of the small coins issued at the end of 2021 and in 2022 have not yet been harvested, but have been harvested by the market. The project parties still have a lot of chips in their hands, and they are lurking and waiting for a good harvest in the bull market. Most of their original intentions to issue coins are very simple. They saw the money-making effect of digital currency and followed the trend to issue coins. Most of them have no faith. The biggest reason for the lack of increase in this round is insufficient preparation. As the project parties of small currencies, they expect the bull market to come in 24 or 25. Market makers and pull-up benefits are not fully prepared, so they are waiting.
3. There are still many coins issued 20 years ago. It is difficult for us to know whether the company is still operating. A better way is to observe the weekly updates of GitHub. If there are no updates for several consecutive months, it can be basically determined that the company has run away. On the contrary, if it can survive the bull and bear markets, this type of currency will have the opportunity to be applied in the next few years and shine, but the chance of landing is only a small probability.
Through the above points, it is not difficult to understand why the coins that have seen a sharp rise in this round of market are often those that have just been listed, because they are more adequately prepared and have fought a well-prepared battle, in contrast to those small coins that are constantly suffering in the bear market.
How will the market perform in the future?
For the coins issued in 2021 and before, if the chips have been distributed and github is no longer updated, they are zero-coins that exist in name only. Most of the coins issued in 2022/2023 are still in a dormant period waiting for opportunities. After this wave of market rise, many project parties began to release good news belatedly. These coins are the pioneers of this round of small coins. If Bitcoin sets a new high later, these coins that have started to move will pull out a good height. Of course, if Bitcoin adjusts in the mid-term, the dreams of these project parties will be shattered, and naturally there will be no money-making effect of small coins in June.
Therefore, whether small coins have opportunities in June will still depend on the market trend. Now many project parties have prepared their ammunition, and all we have to do is wait.
Market analysis:
BTC：
Yesterday’s strong support of 67,500 was broken but recovered. There is a high probability that it will rebound to around 68,000 on that day. The overall trend is still building a right shoulder pattern, so continue to hold.
ETH：
It broke the 3480 level, but recovered again at 4, which means the support at 3480 is very strong. Today, we are looking at a rebound to 3600.
Potential altcoins worth paying attention to at present:
BTC/ETH only had a small pullback, but the altcoins fell drastically. There was no overall break and they have been rebounding in the last few days.
WLD and STRK, which were recommended before, have also fallen by about 20%, especially STRK, which has fallen below the $1 mark. It is expected to rebound to 1.2 recently, so you can stop at 1.2. WLD has also reached 3.6, so you can cover your position near 3.6 to spread the cost.
