The Bull is at the Door, Stay Calm;
The market trend is basically in line with expectations, Bitcoin is stronger than altcoins, and the current altcoins are too weak. Once they go down, they never really come back up; it's truly difficult to rise!
In this round of correction, Bitcoin has climbed back from 65,000 to 68,000, while altcoins have been stuck down below! ETH has really been disappointing this time.
The Pennsylvania House of Representatives has passed a Bitcoin Rights Bill, providing regulatory clarity for digital assets, emphasizing everyone's right to pay and own cryptocurrency.
On a macro level, there is positive support for the crypto industry, so the future will only get better; holding long-term is the right choice.
This round is just a range correction; a deep adjustment will not occur. Bitcoin is unlikely to drop below 64,500. From the current market perspective, every drop gives us an opportunity to get in.
Bitcoin remains the safest, most reliable asset with the highest potential for appreciation, and the consensus around Bitcoin is already very strong.
Be cautious, the market could ignite at any moment!
In the absence of clear negative news, do not expect a significant correction.
From a technical perspective, the lows are continuously rising, and the highs are also increasing. This is the third correction since early August, so the correction will not be too deep.
Let’s clarify again: the main funds in the cryptocurrency industry are concentrated in Bitcoin, with most funds here. According to Cryptoquant data, Bitcoin whales hold about 670,000 Bitcoins, the highest ever recorded. Undoubtedly, this is an optimistic long-term signal.
Next are assets with strong consensus like ETH, BNB, and SOL. Even these assets are likely to follow BTC.
So, for those asking why altcoins (ALT) fall but don’t rise, this is the clearest answer.
Current volatility and even corrections are normal; you cannot expect outside funds to ignore risks like you do. After all, the election results are not out yet, and it’s normal to have risk-averse sentiments. However, as veterans in the crypto space, we should just eat and sleep through this market. A week from now, the market could be completely different; prices might even start with a 7, and the memes we play with will change. This is the charm of the crypto market; there are always opportunities in front of you, and if you’re lucky, there will always be a pie falling from the sky.
Bitcoin rebounded strongly last night, hitting around 68,800 at its peak. After the short-term correction ends, the market will gain confidence to push for an ATH. I believe it will happen soon.
On the Altcoin Front
Currently, while memes are very profitable, the timeliness of information is very short. If you learn about a certain coin from V's Twitter, it's best not to play with it. If you find out about a coin from media news, don’t buy it either, because buying it will lead to losses. Don’t ask me how I know!
If you are not an on-chain expert or a trading expert, I suggest you avoid low-quality coins and focus more on quality altcoins on CEX. You must remember one thing: everything in this world will reach a state of balance. If CEX is too hot, it will shift to on-chain; if on-chain is too hot, it will shift back to CEX. After the Ethereum narrative is done, it will shift to SOL, and after SOL's story is over, it will move to other chains. It is definitely not about one being dominant or permanently popular.
Many quality altcoins on CEX are at the bottom. Once Bitcoin breaks through, market confidence and attention will shift back to CEX, without a doubt.
That's all for this article. If you liked it, please give a follow and a like~
In the crypto industry, if you want to seize the next bull market opportunity, you need to have a quality circle where everyone can support each other and maintain insight. If you are alone, looking around and finding no one, it is actually very difficult to persist in this industry.
If you want to band together for support or have questions, feel free to join us—WeChat Official Account: You Bi Zhi Qing Nian
Thank you for reading! If you liked it, please give a like and follow. See you next time!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
