With the development of the cryptocurrency market, May's market situation has drawn much attention, and the market seems to sense the breath of a bull market. Against the backdrop of the Ethereum mainnet upgrade on the 7th and the Federal Reserve's interest rate decision on the 8th, the market expects no rate cuts in May. Whether the Federal Reserve Chairman's speech is hawkish or dovish will be a key factor in market trends, determining whether Bitcoin breaks through $100,000 or falls below $90,000.
From a technical perspective, Bitcoin has the potential to pull back to around $92,000. If it stabilizes here, it is likely to continue climbing; otherwise, it may test around $88,000. For Ethereum, its price target may reach $2,000, and it could even hit $2,200. Currently, the movement of altcoins is still largely influenced by Bitcoin, and only between rises and falls can real trading opportunities arise.
When will the altcoin season arrive?
Currently, the market does not satisfy the conditions for a universal rise; the spring for altcoins may require interest rate cuts or at least expectations of rate cuts to arrive. Nevertheless, the altcoin season remains promising, but the dominant position of Bitcoin in the market, macroeconomic pressures, and regulatory hurdles have temporarily put the brakes on the enthusiasm for altcoins. Once Bitcoin enters a stable period and liquidity returns, altcoins will greet their operational opportunities.
There are usually two ways for the main force to wash out positions: one is through large fluctuations in spatial amplitude, and the other is prolonged oscillation. After the global panic triggered by the last tariff increase, the possibility of a significant pullback in the short term is low, and there is not much chance for shorts to break even around $90,000. Additionally, with the interest rate decision meeting approaching, market leaders will not easily give opportunities to those who missed the boat. The bull market's window may only last about half a year, and investors should cherish this round of market.
Three major mainstream coins: unlimited potential, expected to explode a hundredfold
SUI: The rise of new public chains
As a new public chain, Sui's development path is very similar to early Solana, showing rapid growth. Now, Sui's position in the cryptocurrency circle is like Ethereum's position in the DeFi field during the 2020 bull market, receiving significant attention. The market is highly enthusiastic, and once the cryptocurrency market starts, quality altcoins and popular meme coins will rise first. With solid technical strength, Sui is very likely to become a 'potential stock' in the future of the cryptocurrency circle.
WLD: Potential beneficiary of the OpenAI social platform
Rumors of OpenAI potentially launching a social platform have filled the market with anticipation for Worldcoin's WLD. Although currently only Coinbase has listed WLD and Sam Altman's itinerary suggests this, the official confirmation is still pending. If the rumors are true, WLD will welcome significant positive news. It could not only become the built-in currency for OpenAI's new social platform for user chatting, tipping, and purchasing services but may also play a role in World ID, becoming the core of the entire platform's identity and functions. Even if it's just a rumor now, market expectations have begun to speculate, and once officially announced, WLD's potential is enormous.
SOL: Ecological prosperity, highly favored
Solana is known for its high speed, low transaction fees, and scalability, attracting numerous developers and projects. Recently, the RockawayX fund injected $125 million into the Solana ecosystem, and MagicBlock also raised $7.5 million to build faster applications on the Solana blockchain, further promoting its ecological development. In the DeFi and NFT sectors, Solana's applications continue to grow, attracting significant attention. Moreover, asset management companies like Franklin Templeton have applied to track Solana's spot price with ETFs, and CME Group has launched Solana futures products, indicating increased institutional interest in Solana. In a bull market, Solana's target price may reach $1,000, six times its current price, which is a cryptocurrency worth steady investors' attention.
In the cryptocurrency market, the expectation of a bull market in May has investors filled with anticipation. The three major mainstream coins, SUI, WLD, and SOL, have the potential to achieve a hundredfold explosion in the market based on their respective advantages, making them worthy of in-depth research and attention from investors. However, at the same time, the cryptocurrency market is highly risky, and investors should make cautious decisions and allocate their assets reasonably.
