At the beginning of this week, the price of Bitcoin broke a new high, followed by fluctuations at a high level, with alternating slight pullbacks and rebounds. Midweek, after Federal Reserve policymakers hinted at a more cautious approach to future rate cuts and Powell's remarks, Bitcoin plummeted. Over the weekend, it remained in consolidation. Overall, Bitcoin's trading volume showed a fluctuating upward trend this week, but trading volume increased during price corrections, indicating that market participants are more actively engaging in trading when prices drop. This week, Lao Zhang made a total of 24 trades. Among them, 17 trades for Bitcoin accounted for 24,350 points, with a loss of 500 points, and 7 trades for Ethereum accounted for 365 points. Only by understanding the path to today can we clearly and wisely plan for the future.
The Bitcoin market seems to be influenced by a four-year cycle, where Bitcoin's dominance experiences a significant decline after the peak of the cycle, providing opportunities for the altcoin market to rebound. December 2024 marks another important node in this four-year cycle. Since its inception, Bitcoin has experienced multiple significant fluctuations. From being initially unrecognized to now being the fifth-largest cryptocurrency by global market capitalization, Bitcoin has demonstrated its strong vitality and market appeal. Historical data shows that after a period of adjustment, Bitcoin often welcomes a new upward cycle. We continue to remain optimistic about the upward trend in the market, looking forward to it leading the digital currency revolution and becoming an indispensable part of the global digital economy, promoting financial innovation and the prosperous development of the global economy.
