Today, the market suffered a heavy blow and plummeted again! In this wave of impact, the decline of altcoins was like a waterfall, and the entire market was powerless to resist. Surprisingly, Bitcoin just fell below 65,000, and Ethereum did not even fall below 3,300, but altcoins once again performed the helpless plot of "following the decline but not the rise".
From the data level, the price of altcoins has fallen below the low point of April 13-14. Looking back at the trend in the past few months, it feels like the bull market has ended. Perhaps for the main players of altcoins, the rise has almost reached its peak, and the big bull market that everyone is looking forward to seems to be only expected from the entry of Wall Street funds.
I personally have always adhered to the strategy of reducing positions when the market is high. I will sell a moderate amount every time it reaches a high point, and buy it back when it falls back, so I always maintain a certain position. Although I don’t have a large position in this crash, the loss is quite heavy. If I had a full position, I would probably find it unbearable.
A few days ago, I suggested that you buy the bottom of Bitcoin and Ethereum, and at today's price, I think the time to enter the altcoin market has come. After all, the cost-effectiveness is always highlighted in a downtrend.
When the price falls to the current position, the core of the operation is no longer to reduce positions to avoid risks, but how to buy more currencies. First of all, the cost-effectiveness has been found, which is crucial; secondly, from the perspective of the overall environment, the US stock market has broken through the historical high, and the Fed's interest rate cut node is approaching, and a big bull market is bound to be expected. In my eyes, the current market trend is nothing more than a retracement of the "bull market". In fact, every time the market falls, the altcoins always fall the fastest and most violently, and in the past, they would also be accompanied by the decline of the big cake. This time the big cake is fluctuating at a high level, and we should be more confident in the subsequent market.
In general, I am confident about the bull market next year. Even if the market continues to fall, it may take a wave of declines for the big cake to bottom out, but this situation is unlikely to happen. In fact, the decline in the past few months, whether it continues or not, is accumulating strength for the big bull market next year. In this process, everyone must control the risks, and do not hold too many positions in altcoins. Those new coins that have risen rapidly that I mentioned earlier should not be taken over easily, but when the market falls, you should gradually build positions and hold another round of chips.
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