Is BTC a Bull Trap or Reversal How will the Future Market Trend Altcoins Focus on Chain Games and MEME Sector Dont Miss Potential Coins in the US Election

Coin World News Report:
BTC plunged to around 65,000 in the middle of the night yesterday, causing panic among some people. Some even predicted that it would drop to 40,000. As we mentioned before, it is normal for the price to retrace between 0.382 and 0.618 during an upward trend. Once the retracement is complete, the next uptrend will follow.
If it does not fall below 64,577, I do not believe that this upward trend has ended. Stay patient. After the adjustment is completed, BTC will launch another attack on 69,000.
Is it a bull trap or a reversal?
Although BTC experienced another plunge last night, it has not changed my view on the trend. At this stage, unless there is actual negative information, I do not expect a significant price correction.
After all, the US presidential election is less than two weeks away. If BTC continues to decline during this period, I will consider adding positions depending on the situation, as the market’s expectations for the election are still positive.
Investment itself is uncertain. It is about finding relatively certain investment basis in uncertain outcomes through various analyses. For example, I am optimistic about the US election and the price trend in Q4, so I focus more on the trend rather than the price.
Because the price is part of the trend, and the price may not end until the trend is over.
What is the future market trend?
Regarding the future of the cryptocurrency market, I believe it will continue to be a slow bull market. You can understand that BTC is continuously shaking out weak hands and accumulating chips, gradually gaining control over BTC pricing by institutions.
Currently, it is heading in this direction, and it is quite obvious. It’s just that many people have not realized it. Blockchain is also a game, and the most powerful players in the game are those with the most chips. The same goes for the cryptocurrency market. Those who hold the most chips have the most say.
The United States is now gradually collecting chips through BTC spot ETFs. BlackRock, for example, has been buying a significant amount of BTC through CIONBSAE every day, and as of today, BlackRock has already collected hundreds of thousands of bitcoins at an average price that is not low.
The US BTC spot ETF has already collected chips for more than one million BTC, even more than the US government holds. Do you think institutions would invest so heavily just for a few gains? Look at the extent of gold speculation. Bitcoin has not experienced a major surge yet because institutions do not have enough chips. When they accumulate enough, those who are currently bearish will regret it.
The Solana ecosystem is now taking off comprehensively!
Jupiter and Ray are soaring, only Pyth is left behind.
Meme tokens on the blockchain are also flying high. Bome reached a market value of 900 million without the involvement of Anan. Pop has already reached 1.5 billion.
The peak increase of Solana is currently at 700 million for GOAT.
The ceiling of Solana keeps rising. Our ecosystem is indeed unique, and it will surely perform well in the future.
In addition, two aspects of altcoins can be focused on:
1- Gaming sector: Most of the altcoins launched on Anan since the end of last year are in the gaming sector. However, the gaming sector did not show much strength in the first wave of altcoins this year. After more than half a year of cleaning up and a significant drop from the peak, it is now starting to gain momentum. BIGTIME is still rising strongly. PIXEL not only broke through the bottom box but also broke the supply line. PORTAL is also about to break the supply line, and its future looks promising.
2- Meme sector: Various animals, such as frogs, hippos, and BOME, were initially hyped. Then came the hype around PEOPLE related to the US election on Anan. Now it’s the turn of AI+MEME, and it is highly likely that MEME will be a trend throughout the entire cycle.
Smarter altcoins have started to transform into MEME launch platforms. For example, APE is following SUI and APT’s route, driving up the price of B tokens. DYDX and BAKE will also benefit from this later. Now, what you need to do is either follow along, switch to more stable high-market-value MEME tokens or blue-chip DEX tokens, or seize short-term opportunities based on news analysis. If you don’t want to switch or make any changes, then just wait until Bitcoin reaches a new high, and the rest will follow suit. I believe Q4 will see a big wave, so let’s look forward to it together.
The US presidential election is approaching, and you can also pay attention to the following election-related tokens:
The presidential debate between Trump and Harris is ongoing. The market shows that Trump-related meme tokens such as TRUMP, MAGA, TREMP, STRUMP, MAGAA, and FIGHT remain hot. The related Dogecoin concept tokens include ELON, FLOKY, TRUMP, MAGA, and DOGE. There is also a Harris concept token, KAMA.
Among them, DOGE is experiencing a revival! It is following the trend. These types of election-related tokens should not be missed in the short term. The DYDX Foundation announced the launch of a perpetual contract for the Trump 2024 election prediction market, allowing users to trade in a fully decentralized environment. In addition, pay close attention to whether this debate has any significant highlights. It is possible that new Dogecoin-like tokens will appear on the blockchain, similar to the emergence of FIGHT at that time.
PEOPLE is a US presidential election concept token with a political label. It is also a relatively active token in the meme ecosystem, as it experiences ups and downs with the occasional wrestling between Trump and Harris.
Be patient, and soon we will see the arrival of the US election. I think the recent performance of election-related tokens is very good. The anxiety of retail investors stems from high holding costs or overweight positions. Adjust your mindset and wait for the wind to come.