Basically, the entire cryptocurrency market has been played out. Based on historical data, I estimate the next trend for Bitcoin. Bitcoin reached $64,000 in November 2021 and then began to bear, returning to $64,000 only in March 2024. This process took 3 years. So for those who bought 100,000 Bitcoins last October, you need to be mentally prepared to be trapped for 3 years; being trapped for 3 years is still the most optimistic scenario. It is important to know that Bitcoin could rise from $60,000 to $120,000 by the end of 2024. This is actually related to the election of a pro-cryptocurrency Trump and the Bitcoin halving cycle. If, three years from now, in 2029, the U.S. president is someone who is anti-cryptocurrency, or if a financial storm or war—a black swan event—occurs, Bitcoin may not return to a bull market. I think Bitcoin's performance is actually correlated with Ethereum and many altcoins performing poorly. It should be noted that if altcoins perform too poorly, it will also drag down Bitcoin's development. Therefore, converting all altcoins into Bitcoin is not a good strategy. I believe that the legendary story of becoming rich through cryptocurrency may have ended in 2021. In November 2021, Ethereum reached over $4,700, and since then, Ethereum has not performed well. Those who bought Ethereum at over $4,700 in November 2021 are still trapped today. Conversely, those who entered Ethereum at $5 or $10, or Bitcoin at $10 or $100, have made money. To put it bluntly, the cryptocurrency space may have already been exhausted. If you just entered now, you are just seen as a harvested leek.
ETH
1,877.72
-4.79%
BTCUSDT
Διην.
65,565.6
-3.49%