Bitcoin is just a step away from a new high! The market atmosphere is surprisingly calm, what secrets lie behind this? Altcoins are laying out their potential!
Bitcoin surged strongly today (30th), briefly breaking through £73,500, but then the upward momentum tapered off, missing the record high of £73,777. Compared to the hot market in March, this rebound seems more rational. Currently, there are no signs of overheating in the market, and investor sentiment is relatively calm. What is the reason behind this? Is there still room for growth in the future? After months of fluctuations, Bitcoin has finally returned to the bullish stage. With investment demand rebounding, Bitcoin has once again stabilized its footing, currently holding above £72,000, with a year-to-date increase of over 72%, more than doubling compared to the same period last year.
At present, all levels of players in the cryptocurrency pyramid are waiting for signals and are hesitant to act rashly. Will there be a mini altcoin season in some strong sectors? I think we will see the results by early November. However, selecting altcoins is challenging; in past bull markets following halving, the dominant trend was led by a single strong player. In the secondary market, the preferred choices for bottom fishing large-cap coins are Bitcoin and Solana (for instance, Ethereum is the strongest, buying ENA, PENDLE, TIA can overtake in a curve). Altcoin DeFi: UNI, BANANA. New on Binance Futures: MEME, GOAT, HIPPO, NEIRO (lowercase), CAT, MEW, 1000CAT, POPCAT. DOGE continues to strengthen with BABYDOGE. AI: TAO. These can all be added to the watchlist. When Bitcoin weakens, identify which altcoins are strong and buy those first; similarly, during deep drops in VC coins, buy strong ones, not weak ones. There will also be similar situations as seen in previous waves like SAGA which have risen several times from their lows. #BinanceBlockchainWeek
Market funds are betting heavily on Trump, Bitcoin surges rapidly
Multiple factors driving Bitcoin's rise
Analysis generally believes that Bitcoin's surge is closely related to the trends in the US election. Trump claimed during his campaign that if he could return to the White House, he would classify Bitcoin as a strategic reserve asset for the US and make America the 'global cryptocurrency capital.' Harris has also chosen a different path than Biden, vowing to support cryptocurrency.
Options traders are increasing their bets on Bitcoin, predicting that by the end of November, Bitcoin will break through the historic high of $80,000. This is also reflected in the betting markets. Currently, on several prediction platforms, Trump's winning odds are significantly higher than Harris's. This has a reciprocal effect on the US stock market and the crypto market, becoming a key 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 US federal debt if they come to power. Meanwhile, although the Federal Reserve made a high-profile interest rate cut in September, many in the market believe that the inflationary fire has not been completely extinguished. Under this skepticism, the price of Bitcoin, viewed as a safe-haven asset, rising is not surprising, and another major safe-haven asset, gold, has also reached new historical highs this month.
Can Bitcoin maintain its current momentum?
As Bitcoin breaks through the $73,000 barrier, many are wondering, 'Can it sustain this momentum?' In June, Bitcoin briefly reached similar heights but struggled to maintain it. However, the current market conditions seem to support a stronger position.
#你问我答 BTC has consecutively gained 4 bullish candles, breaking through the 72800 mark! Currently around 72100, the long position entered at 70500 has made a profit of 1600u! It is recommended to take some profits! Yesterday was made very clear, breaking through the 70000 mark and pulling back, go long! The 4-hour chart hasn't closed yet, currently showing a bearish signal, the market will first experience some volatility to shake off weak hands, but the outlook remains bullish. For short-term trading, take profits from this rally and rest for a while. Let the bullets fly for a bit! Opportunities are earned by waiting; enduring loneliness will lead to prosperity! $BTC
Біткойн сильно перевищив $71 500, і ринок знову нагрівається!
#你问我答 Біткойн успішно подолав позначку в 71 500 доларів США, подорожчавши на 5,61% за 24 години. Цей підйом, безсумнівно, є перемогою биків. Протягом останніх кількох днів ціни на біткойн неухильно зростали, привертаючи велику увагу інвесторів.
Звичайно, волатильність біткойна також нагадує нам залишатися раціональними. Але в довгостроковій перспективі ралі ще раз демонструє привабливість біткойна як надійного активу. На тлі зростання глобальної економічної невизначеності поступово з’являються безпечні властивості біткойнів.
Це захоплюючий час для інвесторів у біткойн. З надходженням дедалі більшої кількості інституційних коштів біткойн все ще має великий потенціал зростання. Хоча в короткостроковій перспективі може спостерігатися волатильність, у довгостроковій перспективі цей прорив може бути лише початком подальшого зростання біткойна. У майбутньому біткойн може піднести ще більше сюрпризів!
Musk promotes Dogecoin again, saying he will join the government to establish a new DOGE department (Department of Government Efficiency, also the abbreviation for Dogecoin), which will cut the federal government budget by a third, saving taxpayers $2 trillion each year! From my micro-expressions, it seems very likely that Musk is in this state after taking two puffs.
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The first leg of the long line has concluded, with the pancake at 4000 points. Enter at 80k. Take it easy, follow and you'll earn. "Find the right direction and grasp the trend" #BTC突破7W1 $BTC
10.29 The large pancake starting with 7 has already been experienced It may be late, but it will not be absent The last large pancake starting with 7 was in early August; I vaguely remember that after Trump spoke at the Bitcoin conference, the pancake briefly rose to 70000, like a flash in the pan, then quickly fell back. This is this year's "8.5 black swan time". Intra-day BTC rose over 3%. On the news front, with the election approaching, market sentiment has turned favorable towards Trump, driving the "Trump chair" to make a comeback, with the dollar, Trump-related stocks, and the large pancake all showing a strong upward trend. Trump is leading in most swing states, with a high probability of winning this election. Trump held a high-profile campaign event at Madison Square Garden, not only attracting huge crowds but also inviting heavyweight speakers including Musk, further boosting market confidence in Trump's victory. From an overall perspective, the market's fundamentals and technicals show a favorable situation for bulls. Various indicators are also supporting the continuation of the upward trend to some extent. The afternoon's strategy remains unchanged, continuing to firmly look bullish. Operation suggestion: If the large pancake retraces to around 70600, look up to 73000. If the auntie retraces to around 2610, look up to 2780#你问我答 #$BTC Follow me for continuous updates
With less than 10 days until the US 2024 election day on November 5, market expectations for a Trump victory continue to rise. In terms of the election situation, Trump has not only expanded his advantage in odds and swing state polls but has also strengthened the 'Trump trade', prompting overseas assets to exhibit a seemingly 'contradictory' phenomenon of rising US Treasury yields, the dollar, gold, and US stocks simultaneously in the past period. This also suggests that this election may bear a growing resemblance to the 2016 election. In fact, there are indeed familiar elements in assets, maintaining a bullish outlook $BTC $$ETH #你问我答 $BTC
In the early hours of today, Bitcoin retraced to 68500 and immediately began to gain momentum, successfully breaking through the 71000 mark. The trend momentum is strong, and the double bottom formation has led to a surge, reaching a high of 71600 points. Due to the rapid volatility in yesterday's market, there was no opportunity for shorting, so we followed the trend and went long, capturing nearly 1700 points of space. The market is unpredictable, and we at Silk Road must adapt to changes and follow the trend; only by following the trend can we easily and simply profit. Do not envy others; risks and opportunities coexist. By keeping up with this trend, there is a possibility of making a profit. #狗狗币创数月新高 From the overall market perspective, it is in an upward trend, with sufficient bullish momentum at this time. If the market breaks through the historical high of 73000, it will enter a higher upward channel in a one-sided manner. From a daily perspective, the lows are gradually rising, and the fourth wave of the rebound is gradually starting. The middle line of the Bollinger Bands serves as a strong resistance level. After this rise, there will be a brief correction, and after the correction, it will rise to new highs. Bitcoin: 70700-70500 go long, looking at 73000 Ethereum: 2610-2620 go long, looking at 2750#比特币布林带收窄至低水平 #BTC触及7W $BTC $ETH $SOL