Recently, there is a view that as long as Bitcoin does not break through $70,000, there is no way to talk about the "breakout" of Altcoin. This view seemed to be true from April to August, but after entering September, the market has undergone a clear change.
Looking back at September, although Bitcoin and Ethereum did not break through their previous highs, the changes in trading volume were very significant. The selling pressure from short positions weakened, and the number of long positions gradually increased, indicating that the market is experiencing a battle between longs and shorts and is beginning to show a clear direction.
Another data worth noting is the surge in the trading volume of Altcoin. Compared with August, the number of active coins has increased significantly recently, indicating that the market's investment interest is rising. Investors' attention has gradually shifted from mainstream coins such as Bitcoin to some potential Altcoin. This signal suggests that some valuable coins are accumulating funds at the bottom and may usher in a rise in the future.
In fact, in September, many Altcoin have risen by more than 20% in one day, with a high frequency that is eye-catching. In addition, as new coins are listed on exchanges one after another, the market focus has gradually shifted from the previous firm bearish view to the hesitation of some investors.
Although these subtle changes in emotions may seem insignificant to many people, emotions often determine the direction of the market. Today, the main players in the crypto have a deep understanding of human nature. The previous bull market was simple and crude, with all currencies rising all the way, while the current bull market pattern shows the steady rise of Bitcoin and the differentiated performance of Altcoin.
It is worth noting that investors in the crypto are often impatient, and many people are anxious about the complex market in 2024. This anxiety stems from witnessing the tragic decline of countless currencies, especially when Bitcoin is running at a high level, while Altcoin continue to hit new lows. This emotional fluctuation forms a trap set by the main force, which makes people feel uneasy.
At present, for those investors who pay attention to the spot trend, there is no need to worry too much. Just patiently observe the game between the main force and retail investors and wait for the development of the market. The trend in September may be the beginning of a market turnaround, which is worth every investor's close attention.
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
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