Bitcoin is just a step away from a new high! The market atmosphere is surprisingly calm, but is there hidden meaning behind it? Altcoins are laying out these potential coins!
Bitcoin surged strongly early this morning (30th), briefly breaking through $73,500, but then its upward momentum tapered off, falling short of the record high of $73,777. Compared to the hot market in March, this rebound seems more rational, and currently, there are no signs of overheating in the market, with investor sentiment remaining calm. What is the reason behind this? Is there still room for further increases in the future? After months of fluctuations, Bitcoin has finally returned to the bullish stage. With investment demand rebounding, Bitcoin has regained its footing, currently stabilizing above $72,000, with a year-to-date increase of over 72%, doubling compared to the same period last year.
At present, players at all levels in the cryptocurrency pyramid are waiting for signals and are hesitant to act rashly. Will there be some strong sectors of small altcoin seasons? I think we will see the results by early November. However, selecting altcoins is challenging. In previous bull markets after halving, only a few dominant players have thrived, with Bitcoin and Solana being the top choices for bottom fishing in the secondary market (for instance, Ethereum is the strongest; buy ENA, Pendle, TIA for potential gains). Altcoin DeFi: UNI, Banana Newly listed contracts on Binance: Meme, Goat, Hippo, Neiro (lowercase), Cat Mew, 1000Cat, PopCat Doge continues to strengthen while BabyDoge is on the rise. AI: Tao These can all be added to the watchlist. When Bitcoin weakens, whichever is strong should be bought first, and in deep dips, the same applies to VC coins—buying the strong and not the weak. There could also be similar situations like the previous Saga, which has seen multiple times the low points come out. #BinanceBlockchainWeek
Market funds are betting wildly on Trump, Bitcoin is soaring rapidly
Multiple factors driving Bitcoin's rise
Analysis generally believes that this surge in Bitcoin is closely related to the trends in the U.S. election. Trump has claimed during his campaign that if he returns to the White House, he will designate Bitcoin as a strategic reserve asset for the U.S. and make America the 'global cryptocurrency capital.' Harris has also chosen a different route from Biden, vowing to support cryptocurrencies.
Options traders have increased their bets on Bitcoin, predicting that by the end of November, Bitcoin will break through the historical high of $80,000. This is also reflected in the bocai market. Currently, on multiple prediction platforms, Trump's probability of winning is significantly higher than Harris's. This, in turn, has an impact on the U.S. stock market and the cryptocurrency market, becoming an important reason for investors to chase Trump trades. In addition to the positive factors brought by Trump, Bitcoin's rise also has an anti-inflationary aspect. Billionaire Paul Tudor Jones has called on investors to use Bitcoin as a hedge against inflation, as both Trump and Harris would exacerbate the burden of U.S. federal debt if they come to power. At the same time, although the Federal Reserve made a high-profile rate cut in September, there are many in the market who believe that the inflationary embers have not been completely extinguished. Under this skepticism, it is not surprising that Bitcoin, seen as a safe-haven asset, is rising in price, and another major safe-haven asset, gold, has also been hitting historical highs this month.
Can Bitcoin maintain its current momentum?
As Bitcoin breaks through the $73,000 barrier, many are wondering, 'Can it maintain this momentum?' In June, Bitcoin briefly reached a similar height but struggled to sustain it. However, the current market conditions seem to support a stronger position.
#你问我答 BTC has continuously recorded 4 bullish candles, successfully breaking the 72800 barrier! Currently around 72100, the long position entered at 70500 has gained 1600u in space! It is recommended to take some profits first! Yesterday was clearly stated, breaking the 70000 barrier and then pulling back, go long! The 4-hour chart has not closed yet, currently showing a bearish pattern; the market will first experience a volatile washout, but the overall outlook remains bullish. For short-term operations, take the gains from this round of upward movement and take a break. Let the bullets fly for a while! Opportunities are all earned through waiting; enduring loneliness allows one to welcome prosperity! $BTC
Bitcoin breaks through $71,500, and the market heats up again!
#你问我答 Bitcoin successfully broke through the $71,500 mark, with a 24-hour increase of 5.61%. This wave of rise is undoubtedly a victory for the bulls. In the past few days, the price of Bitcoin has been rising steadily, attracting a lot of attention from investors.
Of course, the volatility of Bitcoin also reminds us to remain rational. But in the long run, this wave of gains once again demonstrates the appeal of Bitcoin as a safe-haven asset. Against the backdrop of rising global economic uncertainty, Bitcoin's safe-haven properties are gradually emerging.
This is an exciting moment for investors who hold Bitcoin. With more and more institutional funds flowing in, Bitcoin still has a lot of room to rise. Although there may be fluctuations in the short term, in the longer term, this breakthrough may just be the beginning of further gains for Bitcoin. In the future, Bitcoin may bring even bigger surprises!
Musk promotes Dogecoin again, old man says he will join the government to establish a new DOGE department (Department of Government Efficiency, also the abbreviation for Dogecoin), and will cut the federal government's budget by one-third, saving taxpayers $2 trillion a year! From my micro-expression, it seems that the old man is most likely high after smoking two joints $DOGE #狗狗币创数月新高 #你问我答
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#你问我答 Now it is October 29th, on the 27th and 28th, we mentioned that Bitcoin may form a triangular structure. The expectation is to pull back to around 67000 to enter long positions, targeting above 70000. So now that it has risen above 70000, it is not surprising at all. Here I want to respond to everyone: do not set up short positions, continue to hold long positions, continue to hold, do not set up short positions. If it breaks 71000, then OK, the probability is high that it will follow the yellow path and go up directly, without a deep pullback. To confirm there is a deep pullback, it needs to stay at this position and break below 68100. Only breaking below 68100 can confirm there is a deep pullback. So, if you want to short, at what position should you do it? It should be when Bitcoin breaks below 68100, then you can short, not set up beforehand. It should be when it breaks below 68100 and confirms a deep pullback that you can short because you have enough space to do so. We can see that from these positions when it breaks down, it breaks the lower bound of this track, confirming the completion of this shape. Then, when doing this segment, there is enough amplitude space to set up short positions. Otherwise, as long as it breaks through here, breaking 71000 is very likely to continue with a profitable one-sided trend. So, since yesterday we let everyone hold long positions during the pullback, that’s fine. Let’s follow this direction of long positions and move the stop loss up to around the opening price. Then first do the long positions. There is currently no weakness, so do not aggressively open short positions. This is the answer for everyone: since there are two routes here, we first continue to go long until it really cannot go up. Then, if it breaks below 68000, only then consider the issue of shorting. The overall thinking remains unchanged, continue to firmly look at $BTC #BTC突破7W1 $ETH $SOL $$$
The first long line has concluded, the pancake is at 4000 points, entering at 80,000 is preferable. Take it easy, following means profit. "Find the right direction, grasp the trend" #BTC突破7W1 $BTC
10.29 The big cake starting with 7 has already been witnessed It may be late, but it will not be absent The last time the big cake started with 7 was in early August, I vaguely remember that after Trump spoke at the Bitcoin conference, the big cake briefly rose to 70000, like a flash in the pan, and then quickly fell back, this is this year's '8.5 Black Swan time'. During the day, BTC rose over 3%. On the news front, as the election approaches, market sentiment has shifted in favor of Trump, prompting the 'Trump Chair' to make a comeback, with the dollar, Trump-related stocks, and the big cake all showing a strong upward trend. Trump is leading in most swing states and has a high probability of winning this election. Trump held a high-profile campaign event at Madison Square Garden, not only drawing a huge crowd but also inviting heavyweight speakers including Musk, further boosting market confidence in Trump's victory. From an overall perspective, both the market fundamentals and technicals are showing a favorable trend for the bulls. Various indicators also support the market's continued upward development to a certain extent. The afternoon strategy remains unchanged, continuing to firmly look bullish. Operational suggestion: Buy the big cake around 70600, target 73000 Buy Yitai around 2610, target 2780#你问我答 #$BTC Follow me for continuous updates
Less than 10 days until the U.S. 2024 Election Day on November 5, market expectations for a Trump victory continue to rise. In terms of the election situation, Trump not only expands his advantages in odds and swing state polls but also reinforces the 'Trump Trade,' prompting overseas assets to exhibit a seemingly 'contradictory' phenomenon where U.S. Treasury rates, the dollar, gold, and U.S. stocks all rise together over the past period. This also suggests that this election may become increasingly similar to the 2016 election. In fact, there are indeed familiar aspects in assets, continuously bullish $BTC $$ETH #你问我答 $BTC
In the early hours of today, after the big pie retraced to 68500, it immediately began to gain momentum and successfully broke through the 71000 mark. The trend momentum is strong, and the double bottom pattern also caused the market to explode, reaching a high of 71600 points. Due to the rapid volatility in yesterday's market, there were no shorting opportunities, so we went with the trend and turned to make a profit, capturing nearly 1700 points of space. The market is unpredictable, and we along the Silk Road must also adapt to the changes and follow the trend. Only by following the trend can we easily and simply take profits. Do not envy others; risk and opportunity coexist. Keeping up with this trend increases the possibility of making profits. #狗狗币创数月新高 From the overall market perspective, it is in an upward trend, and at this time, the bullish momentum is sufficient. If the market breaks through the historical high of 73000, it will enter a higher upward channel in a one-sided manner. From the daily level, the lows are gradually rising, and the fourth wave of the wave-shaped rebound is gradually starting. The middle track of the Bollinger Bands serves as a strong resistance level. After this rise, a short-term correction will occur, and after the correction, it will rise to new highs. Big Pie: 70700-70500 go long, looking at 73000 Auntie: 2610-2620 long, looking at 2750#比特币布林带收窄至低水平 #BTC触及7W $BTC $ETH $SOL