In the final consolidation stage, if you choose to give up, you will have to work for another 10 years!
The following is a few simple logics used to interpret the current market:
1. Bitcoin’s monthly observation: Bitcoin’s bull market trend is obvious. At present, the monthly line is only trading sideways near new highs, which is intended to clean up profits and lay a solid foundation for the next wave of rise. A correction to US$60,000 is the limit, and may not necessarily reach this price. Similar situations occurred near US$6,000 in 2017 and US$10,000 in 2020.
2. Delayed enjoyment of altcoins: The siphon effect of Bitcoin and the hot spot explosion of altcoins still exist, but there is a delay in time. There are currently many market participants and currencies, and the main players are waiting for the best opportunity through market washing. Various indicators show that altcoins are on the eve of an explosion.
3. Mentality adjustment: The more pessimistic voices in the market, the more successful the main force's washout will be. Stay calm and not be affected by short-term market fluctuations.
4. Positive support for the future: ETH ETF, Prague, interest rate cut expectations, favorable U.S. election policies, and the crypto reserve exposure policy of the Basel Committee on Banking Supervision, etc., all provide a solid foundation for the arrival of the second half of the bull market.
The current market is in a typical bull market "up for a period and flat for a period" stages, especially for altcoins, whose outbreak periods are often short and rapid. Making money depends on opportunity, but holding it depends on the individual. Make sure you understand and stick to your established strategy, keep it simple and smart.
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