The last chance to get on the bus is here! After the big brother's new high, how will the altcoins perform?
No surprises, just as I mentioned on the 7th, good news came when the July CPI data released on the night of the 12th significantly increased the likelihood of a rate cut in September. The big brother (BTC) chose a direction immediately after a month of fluctuations, rising all the way, and today it reached a new high again, breaking 124,400. Just seconds later, a pullback occurred, and the current price stabilized around 118,000.
As the big brother's market cap and price continue to rise, every fluctuation can affect thousands of dollars, and everyone needs to adapt to this rhythm.
Currently, the big brother is getting closer to the range of 128,000 to 160,000 that I predicted in July 2023. In the short term, apart from the fluctuating trend, there is still room for upward movement, but the magnitude may gradually narrow. ETH is similar, soaring from 3,600 to a new high of 4,788, and is currently just a few dollars away from the historical high of 4,868. This brief pullback is a normal market reaction.
In this bull market, many people have missed the opportunity.
Many people do not feel the excitement of the bull market; the surge of big brother and ETH is like a “mud dog,” and the adjustments did not provide deep pullback opportunities. As a result, many are waiting for a major pullback to get in, but this bull market may not offer a deep pullback, which has disappointed many.
How will the altcoins perform?
I reviewed all the altcoins today, from mainstream altcoins to small-cap altcoins, as well as various sectors in the ETH ecosystem such as L2. It can be seen that even if the second phase of adjustments is complete, the altcoins following the big brother's rebound are still in a low state.
In simple terms, the altcoins have two possible paths moving forward:
1. Soaring early when the main wave of the third phase begins, with both volume and price rising, rapidly filling the chart.
2. Slowly following the big brother's trend to rise, eventually reaching a high point, then quickly distributing, ending the upward movement.
Most altcoins will follow the second scenario; only high-quality altcoins with sufficient funds may have the potential to follow the first scenario. For example, recently, OKB surged by 200% in one day from a horizontal state of $40 to $50 after the news of a halving was released, breaking $130; this is the charm of the bull market!
If you want to know more about cryptocurrency news and the direction of the next wave of the market, tighten your grip on the rhythm and make profits!!!
