Dogecoin explodes, has the bull market in the crypto world arrived?

CN
4 hours ago

Who is the most handsome guy in the crypto world today? It must be Dogecoin!

Why is Dogecoin so outstanding? Because it is a non-proprietary currency, backed by the popular figure Elon Musk.

Musk's second entrepreneurial project is internet finance, with the vision of merging banking and social attributes. At that time, it was not realized, and in 2022, he spent a huge amount to acquire Twitter, driven by this ideal. He had already chosen Dogecoin as the payment medium. In the first half of 2021, Musk publicly supported Dogecoin, and within six months, Dogecoin's increase of over 200 times was truly spectacular.

With the landscape opening up a bit, for such a person, do not think he is just raising the price after building a position to cut retail investors.

A new story is coming! The two super weirdos, Trump and Musk, are teaming up, and both are strong supporters of the crypto industry.

Trump has said that Bitcoin should be used as a strategic reserve currency, and he even mentioned bringing it to $1 million each, then using just a small amount of Bitcoin to pay off the U.S. debt. This idea is really bold.

Business figures supporting presidential campaigns are all aiming to gain favorable industry policies after taking office. With Trump's campaign, what new tricks will Musk's Twitter and Dogecoin integration payment application play? Let's wait and see.

Haha, after saying so much, are you all a bit excited? Please don't sell your house or car to gamble! I really don't want to be like the big blue, leading fans to rush in mindlessly, only to hit a limit down on the same day after a surge, followed by four days of big bearish candles. Those who believed in him were left in a terrible situation.

On October 1st, I shared a post quoting Ye Tan's article to express a viewpoint of not being overly optimistic, almost saying that while others are greedy, I am fearful, and it's time to run.

Here, let's talk about the A-shares. Because they are sufficiently poor and bad, they can only get better. We should still have confidence in our country and be determined to create a bull market; it can't just be a joke. The adjustment has been going on for a few days, and those who like to invest in A-shares can slowly enter the market now.

Back to the topic, has the crypto bull market arrived?

At every key time point, I will conduct a medium to long-term analysis of Bitcoin.

There are thousands of tradable cryptocurrencies in the market, but there are no more than a handful with potential: Bitcoin, Ethereum, Dogecoin, and the remaining two I don't know, but they are definitely not the ones most people hold.

So, in the crypto world, the value investment methods mentioned in the previous article cannot be discarded.

Bitcoin dominates the trends of various cryptocurrencies. With institutional investments entering the market, Bitcoin is no longer the Bitcoin that rises and falls sharply as before. Now, the average daily volatility is less than 3%. Looking at the trends of the past six months, it has been quite frustrating, mostly moving in sync with the U.S. stock market.

Recently, Bitcoin's performance has been good. Whether it can stabilize at $74,000 within the next month, I hold a pessimistic view.

Another major correction is expected. The reason is that the U.S. stock market has been high for a long time. In every election year, the stock market tends to drop from its peak before and after the elections.

Buffett has significantly reduced his holdings in U.S. bank stocks and Apple, preparing cash to pick up the pieces.

Bitcoin will follow the U.S. stock market in a major correction. How far can it drop? To $50,000 or somewhere else? It's uncertain how much leverage can be cleared.

However, I can give a time point: by the end of December to early January, Bitcoin will be in the bottom range!

As for next year's market, it is clearly going to be a bull market. With major global economies gradually lowering interest rates and releasing liquidity, monetary easing will flood the market, and Bitcoin will embark on a magnificent bull market that lasts an entire year.

At that time, anyone who is bearish or shorting will pay the price. Anyone who tells you to short should be avoided.

There will also be adjustments in the bull market, but do not fear it. The best method is to hold onto your coins without moving until the second half of the year or until you are satisfied with your profits, then sell and exit. Do not re-enter the market for two years.

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