Coin World reported:
Last night to this morning, the Bitcoin market experienced a decline. When it rises, there is FOMO (fear of missing out), and when it falls, there is panic. I advise you to withdraw and leave this market early.
Bitcoin has been rising for more than ten days before experiencing a slight correction. Can even the bears reach a climax? I don’t understand the bears’ G-spot. If it is a complete upward trend, from a time perspective, we are only at the starting point. Planning and research should be our focus now, rather than letting emotions dominate our decisions based on the ups and downs of the candlestick chart.
Short-term thinking should focus on being more bullish. Generally speaking, encountering resistance and falling around 69,500, short-term rebound can be done around 67,000, with a profit of 1,000 points. Many friends are starting to panic when facing a declining market, but there is no need to. This level of market volatility is just a drizzle.
For friends who do not have enough positions, it is recommended to gradually accumulate positions while the market is falling, instead of always trying to buy at the lowest point. Life is unpredictable, and we are not gods. It is impossible to buy at the lowest point. If someone tells you they can, they must be a fraud.
In short, a decline is an opportunity to buy at a low price. Do not miss this opportunity.
The real test is this kind of market:
Rise for three days, and then a one-day correction, followed by two days of volatility.
However, when looking at the market, you should not only focus on the current price, but also analyze and summarize the past market trends to find some patterns. Only conclusions drawn from these objective facts can be closer to the truth, and then you can decide whether to continue holding the coins or liquidate and wait.
Will there still be an altcoin season in 2024? What investment opportunities are there now?
In this bull market, the “altcoin season” that has been late to come seems to have some movement recently. From APE to DYDX, SUSHI, many altcoins have experienced significant increases. Has the bull really returned or are the altcoins taking advantage of the opportunity to create positive news and then sell? Why hasn’t the regular “altcoin season” that used to occur in the cryptocurrency market worked this year?
How did the previous altcoin seasons come about?
In the past few bull markets, the arrival of the altcoin season seemed to be an inevitable phenomenon. When the prices of Bitcoin and Ethereum rose, investors obtained sufficient profits from mainstream coins, and funds gradually overflowed into the more volatile altcoin market, which could potentially bring higher returns. Therefore, altcoins started to rise one after another under this capital drive, forming a unique “altcoin season” trend.
However, in 2024, this pattern seems to have failed. Bitcoin’s price soared from $26,000 to a high of $70,000 due to the halving event and the catalysis of ETF, and mainstream funds have already made considerable gains. Logically, this should be the time for altcoins to shine, but the reality is disappointing. Many investors who had anticipated and expected a repeat of historical trends have suffered heavy losses. There are very few altcoins that have outperformed Bitcoin this year, and it is like finding a needle in a haystack to choose the right altcoin.
As the market enters October, the only thing worth doing is to choose the “dark horse” of the strong sectors. This is the only opportunity for ordinary people to overtake on the bend.
APE: The “dark horse” that emerged out of thin air this week.
This coin’s surge can be described as continuing the “violence” of this year, with merciless upward movements.
This is also a highlight of the cryptocurrency market’s greatest charm and what everyone is most looking forward to.
In conclusion, it may take 1-2 years for altcoins to complete the journey that Bitcoin completes in a month, a week, or even a few days. The most important thing in trading is to understand one’s own ability limit. If you don’t grasp the main storyline of altcoins well, it would be a good strategy to hold onto major cryptocurrencies and a few altcoins that you believe in until the timing is right or the price reaches expectations.
