Bitcoin briefly fell below $59,000 in the early hours of yesterday (11th), but quickly rebounded and continued to rise. In the early hours of today, the price of Bitcoin reached a high of $63,417 before entering a range-bound oscillation. As of the time of writing, it is currently trading at $62,656, up 3.32% in the last 24 hours.
In terms of operation, whether to choose to buy again below 60,000 points or wait for a lower point is correct. If you want to do a wave, the next wave exit point will be around 64,000 points. The long-term holding view is to continue to patiently wait for the opportunity of the low point, or wait for the establishment of the reversal signal.
The points are not in conflict, the intervention of the lowest point range, and the tracking after the breakthrough reversal, are both a very conservative form of long-term strategy. The data shows that the Bitcoin spot ETF had a net outflow of $120 million yesterday, while the Ethereum spot ETF had a net inflow of $3.06 million. The short-term reference impact of this data is not significant.
The bull market has actually quietly started, and the whole world is gradually loosening!
So why didn't it surge like the last bull market?
The reason is that the pace of this round of loosening is different.
In 2020, in order to deal with the impact of the epidemic, the Federal Reserve cut interest rates by 150 basis points within a month, and all countries around the world quickly followed suit.
This led to an explosive rise in Bitcoin, which soared to $65,000 in just half a year, a 20-fold increase. However, after the loosening stopped, Bitcoin only rose slightly to $69,000 at the end of the year, basically flat with the high in April.
This round of the cycle is a slow loosening, with an expected 200 basis points of interest rate cuts in the next half year, rather than a rapid drop to the bottom like in 2020. Therefore, this round of the bull market is more like 2017, and will be a process of sustained upward trend, which took a year and a half back then. The reason why the crypto market did not rise from March to September this year is that the Federal Reserve has not yet cut interest rates, and the market lacks incremental funds, leading to a sideways trend. But now the major economies such as the United States, China, and Europe, except Japan, are gradually moving towards quantitative easing, coupled with the approval of the Bitcoin ETF, the bull market is brewing. What you need to do is to hold your coins and wait patiently, and you may have a 3 to 10 times return next year.
In the short term, if Trump takes office in early November, it may become a market explosion point, and the crypto market only needs this stimulus, Bitcoin is expected to break through the previous high and directly pull up 20%, reaching $100,000 by the end of the year.
MEME remains strong! Focus on deploying these top MEME coins
WIF
The SOL chain has produced many MEME coins worth billions of dollars this year, especially BOME, which quietly tripled in three days, making a small group of people rich.
BONK is a bit earlier, it was listed very early, and is relatively an old MEME on the SOL chain.
From the perspective of chasing new ones and not old ones, the MEME on the SOL chain, the first new one is BOME, followed by WIF, and finally BONK. But from the perspective of market capitalization, WIF has more than $2 billion, BONK has more than $1 billion, and BOME has more than $400 million. I tend to be more conservative and prefer larger market caps. From the number of addresses holding and the amount of profit-taking, BOME has more early profit-taking and holding, while WIF did not have as much holding and profit-taking as BOME and BONK in the last round.
Comprehensively considering the three, WIF is a bit better.
So, this is the reason why I have been emphasizing that WIF should be the first choice in the event of a big drop, and the reason for configuring WIF.
DOGE
The big election on November 5th is approaching, and Trump is currently leading the race by a large margin. Against this background, the cryptocurrency DOGE has shown great potential. It has been observed that many keen investors have already started to position themselves in advance for these two currencies, hoping to bring in substantial returns.
Especially for Dogecoin (DOGE), its spiritual leader Musk is currently fully supporting Trump, not only frequently posting tweets on social media to campaign for Trump, but also personally participating in Trump's speech activities. There are even rumors that if Trump wins, the new government department he plans to establish, the Department of Government Efficiency, may have an acronym that matches the symbol of Dogecoin, further fueling market expectations for Dogecoin.
PEOPLE
PEOPLE, the unique American election/political themed "meme coin", has been proudly listed on a top-tier centralized exchange!
American bloodline, capital support, centered on America, gathering the wisdom of the American founders and the strong support of American capital, PEOPLE is ready to take off!
Top exchange token, its market performance is eye-catching and closely linked to the upcoming US election. PEOPLE has shown surprisingly strong relative strength during the election debate period.
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