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A bull market correction must be a time for bargai

网络 2024-03-11 17:18:09 币百科已有人查阅

导读Bitcoin has a clear downward trend, and every major decline in the bull market is seen as an opportunity to get on board.

Bitcoin has a clear downward trend, and every major decline in the bull market is seen as an opportunity to get on board.

Don't be afraid of the rise in a bear market, and don't be afraid of the decline in a bull market. This is my long-standing trading philosophy, that is, if a cryptocurrency suddenly surges in a bear market, in most cases I will choose to sell.

Don't be too concerned at this point that it may continue to rise, as a bear market will bring a correction sooner or later. For a bull market, even if it plummets, I will not be afraid to buy the bottom because it will eventually rebound.

In a bull market, Bitcoin long transactions are frequent, and the main funds usually conduct a round of downward operations to absorb the power of the bulls. For those of us who are spot traders, this is a smart time to enter or add to a position.

Bitcoin's continued stability shows that Bitcoin spot ETFs still have strong market appeal, and the Fed's easing policy expectations are also playing a role.

Spot Bitcoin ETFs attracted approximately $662.5 million in inflows, setting a new single-day net inflow record. Federal Reserve Chairman Powell said that there may be a moderate interest rate cut at some point this year, and Ethereum is about to undergo a Cancun upgrade. Along with many projects, handling fees are being consumed rapidly, which deserves everyone's close attention.

In the altcoin space, Astr and Metis are still worthy of attention, because in a bull market, all coins with potential are worthy of investment. Previously, OP unlocking caused a decline and CRV performed weakly, but it has made significant gains in the rise.

Coins worth buying at the bottom

Phantom (FTM)

Fantom (FTM) is a token that plays a key role in the cryptocurrency space, especially in the DeFi (decentralized finance) space. As a smart contract platform that provides DeFi services to developers, Fantom has competitive advantages such as excellent transaction speed.

Considering these strong fundamentals, Fantom is considered one of the most investment-worthy tokens. It has performed extremely well after the rise of the cryptocurrency market. Current market trends show that prices have begun to rise and are expected to continue rising.

More importantly, Fantom has experienced a significant decline from its all-time high, providing ample room for future growth. Therefore, Fantom is expected to achieve at least a 10-fold increase before the end of this year.

Jupiter (JUP)

Jupiter (JUP) is currently trading at $0.75, with key resistance levels set at $0.68 and $0.81, while support is found at $0.42 and $0.30.

The recent increased focus on Solana could present new opportunities for JUP, which could lead to a solid climb toward the second resistance level in the near term. An influx of new investors could also push the price above the key $0.81 level.

MATIC

There has been a noticeable increase in active addresses on Polygon, suggesting there may be more demand before the price rises. Last month, the number of MATIC addresses used increased by more than 60%. At the same time, the price increased from $0.83 to $1.14.

However, the latest data shows that economic activity is stabilizing, which usually indicates that prices may correct or remain stable. What is noteworthy is the increase in the number of active users of the Polygon network. In one month alone, active MATIC addresses increased by 15,708, up from 10,439 in the previous month.

This increase is associated with a 37.35% increase in market prices. However, MATIC has yet to reach its April 2023 peak price of $1.14. Furthermore, Polygon is a platform created to solve the scalability issues of the Ethereum network. Polygon SDK is its main component and provides an easy-to-use foundation for creating various types of applications.