Today's point of view
Long-term rating: Overweight
Short Cycle Rating:
Bitcoin accumulation
Lighten up in small-cap cryptocurrencies
Today's point of view
The currency circle has ushered in a crazy altcoin market. With the rapid rise of established mainstream cryptocurrencies such as Ethereum, EOS, Dogecoin, and Litecoin, the market value of Bitcoin has directly broken through the important mark of 50%, and it is now reported at 46%. .
Many old leeks in the currency circle broke their thighs because they did not participate in Dogecoin. Looking at the Bitcoin in their hands, and then looking at the old mainstream cryptocurrencies that keep hitting new highs in other people's bowls, they can't help but feel like they are about to move.
This is a cycle that tempts investors to exchange their bitcoins for altcoins, and then find that the value of assets cannot outperform simply holding bitcoins.
We stick to boring but simple and clear investment strategies. When the market has not come to the end of the bull market, and the market value of Bitcoin is seriously oversold, we take profit of most of the cryptocurrencies with high returns, and choose to hold Bitcoin, and insist on the macro trend judgment unchanged. Don't be swayed by the fear of missing out, and stick to the established investment strategy unchanged.
Investors who have been holding Dogecoin are currently earning a lot of money. We remind investors that the resistance is just around the corner. With the current rising speed, the probability of breaking through the upper edge of the channel again is very small. Deviation from the selling point is an excellent opportunity to take profit.
The Ethereum Bitcoin trading pair also hit the resistance of the rising channel, and failed to fall back after trying to break through once. It is currently finishing below the trend line. If Bitcoin exerts strength in the next market and Ethereum follows up moderately, the exchange rate will There will be a pullback, which is what we think a normal bull market should have.
Bitcoin is running in a sideways channel, with the upper resistance around $67,000. We believe that Bitcoin will hit a new high this month after the monthly line is closed. Once Bitcoin is launched, it may trigger a rapid return of capital from other cryptocurrencies, which will eventually lead to a recovery in the market value of Bitcoin.
