Bitcoin briefly fell below $59,000 early yesterday (11th) but quickly rebounded and continued to rise. Early this morning, after reaching a high of $63,417, Bitcoin's price began to fluctuate within a range. As of the time of writing, it is reported at $62,656, up 3.32% in the last 24 hours.
In terms of operations, whether choosing to buy again below the 60,000 mark or waiting for a lower point is correct. If you want to make a swing trade, the next selling point will be around 64,000. The long-term holding view is to continue patiently waiting for a low point opportunity or for a reversal signal to establish.
There is no conflict between the points; entering at the lowest point range and tracking after a breakout reversal are both conservative forms of long-term strategy. Data shows that yesterday, Bitcoin spot ETF had a net outflow of $120 million, while Ethereum spot ETF had a net inflow of $3.06 million. The short-term reference impact of this data is minimal.
The bull market has actually quietly started, and the world is gradually easing!
So, why isn't it surging like the last bull market?
The reason is that the pace of easing this time is different.
In 2020, in response to the pandemic shock, the Federal Reserve cut interest rates by 150 basis points within a month, and countries around the world quickly followed suit.
This led to a explosive rise in Bitcoin, which surged to $65,000 within six months, with an increase of up to 20 times. However, after the easing stopped, Bitcoin only slightly rose to $69,000 by the end of the year, basically flat with the April high.
This cycle, however, is a slow easing, with an expected 200 basis points cut in interest rates over the next six months, rather than a rapid drop like in 2020. Therefore, this bull market resembles 2017, which was a continuous upward process, lasting a year and a half. The cryptocurrency market did not rise from March to September this year because the Federal Reserve had not cut interest rates, leading to a lack of incremental funds in the market, resulting in sideways movement. But now, major economies like the U.S., China, and Europe, except for Japan, are gradually moving towards quantitative easing, coupled with the approval of Bitcoin ETFs, a bull market is brewing. What you need to do is hold your coins and wait patiently; next year may bring returns of 3 to 10 times.
In the short term, if Trump takes office in early November, it could become a market explosion point; the cryptocurrency market only needs this stimulus, and Bitcoin is expected to break through previous highs, directly rising by 20%, reaching $100,000 by the end of the year.
Meme coins remain strong! Focus on these top meme coins
WIF
The SOL chain has produced many meme coins worth billions this year, especially bome, which quietly surged in just three days, making a small wave of people wealthy.
Bonk is an earlier meme coin that has been around for a while and is relatively considered an old meme on SOL.
If choosing from the perspective of trading new over old, then the first new meme on the SOL chain is bome, followed by WIF, and lastly bonk. However, from a market capitalization perspective, WIF is over 2 billion, bonk over 1 billion, and bome over 400 million. Personally, I prefer a conservative approach, leaning towards larger market caps. From the number of address holders and profit-taking amounts, bome has more early profits and holdings, while WIF does not have as large holdings and profit-taking as bome and bonk.
Overall, WIF appears to be the better option.
Thus, this is the reason I have been emphasizing WIF as the first choice during a significant drop and recommending the allocation of WIF.
DOGE
The big election on November 5 is approaching, and Trump is currently leading significantly in the campaign. In this context, the cryptocurrency DOGE shows great potential. Many astute investors have already begun to position themselves in these two currencies, hoping for considerable returns.
Especially Dogecoin (DOGE), whose key figure Elon Musk is currently fully supporting Trump, frequently tweeting on social media to rally votes for him and personally participating in Trump's speaking events. There are even rumors that the initialism of a new government department, the Department of Government Efficiency, which is expected to be established after Trump's victory, corresponds with the Dogecoin logo, further igniting market expectations for Dogecoin.
PEOPLE
PEOPLE, a unique meme coin themed around the U.S. election/politics, has proudly listed on top centralized exchanges!
With American bloodlines and capital support, centered around the U.S., PEOPLE gathers the wisdom of American founders and the strong backing of American capital, ready to take off!
Top exchange coins are closely linked to the upcoming U.S. elections, and PEOPLE has shown remarkable relative strength during the election debates.
This article is time-sensitive and for reference only; it will be updated in real-time.
Focusing on technical research, we aim to win global investment opportunities. Public account: Crypto悟饭
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