Solana has recently plummeted nearly 46% in the past month, following a rapid decline after just hitting a high of $295.83. It is essential to note that we are still in the process of the fifth round of weekly level increases in Bitcoin's fourth halving bull market.
Bitcoin has transitioned from the solid state of the first halving bull market, the liquid state of the second halving bull market, and the gas state of the third halving bull market to the ionized state of the fourth halving bull market.
In the first halving bull market (November 28, 2012), LTC was the biggest companion altcoin to Bitcoin.
In the second halving bull market (July 9, 2016), ETH emerged as the most important companion mainstream.
In the third halving bull market (May 12, 2020), more L1-level public chains emerged. The market began to blossom.
In the fourth halving bull market (April 20, 2024), SOL stabilized at $140, becoming one of the mainstream coins in the L1 track.
Since the four halving events of Bitcoin, on-chain trading has become a better investment method after CEX. However, the world is upside down; the six dragons of the Kun hexagram battle in the wild, their blood is dark yellow. Every day, tens of thousands of copycat tokens appear on Solana, BSC, and ETH chains. People are abandoning BTC, BNB, and ETH to crazily exchange for these copycat tokens, but it must be known that 99% of on-chain copycat tokens are scams, RUGs (rug pulls), and high-slippage marketing wallets dumping tokens.
This is an upside-down era; it should be noted that the entire Kun hexagram is good except for the upper six, but the upper six hexagram is excessive. The Qian dragon and Kun dragon battle in the wild, and the blood of the two dragons spurts everywhere in the world. People have abandoned their mainstream assets, completely losing their chips in exchange for the copycat tokens that have the potential for significant price increases. Even so, this has made BTC more valuable as an investment; it should be known that we have already entered the ionized state phase of Bitcoin, which has risen to the top-tier investment target. Meanwhile, the copycat tokens still in solid, liquid, and gas states are almost inevitably experiencing significant volatility, causing more assets to return to Bitcoin. This allows Bitcoin's price to receive better nourishment amid the dung of copycat tokens. Thus, in the first quarter of 2025, Bitcoin remains steadfast above $90,000.
Take a close look at the above chart; Bitcoin is at the intersection of this round of volatile adjustments. According to the 'K-Line Western Journey Strategy' part two, the four-phase strategy. The area around the intersection point is where a change in trend is likely to occur. Meanwhile, the intersection point can be understood as an attractive black hole. Thus, Bitcoin's price has slipped from the recent peak of around $110,000 to $95,000. The horizontal consolidation forms a triangular support line. However, with the stabilization of the market, we can still see the daily level has been forming a horizontal consolidation triangle since last November. This gives Bitcoin, in an ionized state, a new bullish structure with the length of horizontal and the height of vertical. As long as this structure continues to stabilize near the recent intersection, which is within the last month, the bulls have a chance to restart. Meanwhile, Bitcoin's weekly level's Wukong bullish line in January 2025 is still alive. Without breaking the structure, it is easy to brew the Bajie bullish line, the Sha Seng bullish line, and potentially the Tang Seng bullish line in the future. If the fifth round of weekly level increases in the Western Journey is established, Bitcoin's price could see above $150,000.
Meanwhile, the issuance increase of SOL, the suspected high centralization, and the countless copycat tokens in the on-chain dragon battle in the wild. After the blood of the six dragons in the wild, a new round of bullish market will brew again. This can be felt from the stabilization of SOL at $170 today, which has held the support line since February 2024. A short-term decline will not undermine the overall bullish trend; 2025 is a crucial year for the Bitcoin bull market after the fourth halving. After experiencing rapid surges and declines, SOL, as an important public chain in the L1 track, has the opportunity to replicate the performance of ETH in 2017 and become a new companion asset to Bitcoin.
Due to limitations in perspective, the views in this article are for reference only and should not be used as investment advice. For more content, refer to the book 'K-Line Western Journey Strategy.'