Starting from October 2023, the bull market will begin to appear. Many people have predicted that 2024 will be a year of explosive growth for Bitcoin. So how to make money in 2024 ↓
Last year, especially after the inscription craze started, from BRC20 to public chain inscription to NFT, the return rate was dozens, hundreds, thousands (ten thousand) times. It seems mythical, but how much is actually earned? Everyone knows it well.
The sudden explosion of a single sector meant that only a few lucky people made money. At that time, many people got the inscription, but how many people got the last one?
Based on the current shipping conditions and the direction at that time, the market is cautious, and single sectors have shorted and exploded.
The suggestions here are:
1. Reasonable allocation of positions is crucial. The majority of your funds should be invested in BTC and ETH, while a small portion can be used to look for new trends. Since the early costs of new concepts such as BRC20 and Inscription are relatively low and the potential returns are extremely high, those who participate early can often reap huge rewards. However, by the time the public started paying attention, the opportunities had dwindled significantly. Taking ORDI as an example, although its price has increased, the risks and costs of later participation have greatly increased, and you may face huge psychological pressure and risk of loss. Rather than taking high risks at a later stage, it is better to be actively involved in new concepts early on. Don't miss the opportunity because you find it troublesome, otherwise you will just watch others make money.
2,
Ethereum’s focus this year is on the development of layer 2, but there is a lack of new concepts and the market response is lukewarm. Until the emergence of Oridnals protocol and BRC20, the market became active. The inscription effect further promotes the development of Ethereum and public chains.
Bitcoin miners are also happy to see this trend, because Inscription transaction fees account for 20% of their total revenue. CEX became active. Binance was in trouble due to the lawsuit, and OKX came from behind to delve into the inscription market. Inscription currently has limited functions, but it is of great significance to awaken the activity of BTC ecology. As the Bitcoin network upgrades, the BTC network will have more room for development. .
For layer2, the strategic significance of the BTC network is greater than that of Ethereum. I think that in 2024, layer 2 of the BTC network will usher in explosive growth. The current ecological scale of Bitcoin is much smaller than that of Ethereum, but there is an inversion phenomenon between the primary market and the secondary market, making it difficult for small institutions to take over.The opportunity lies in new models and applications, especially Social and GameFi. Small games such as Xpet have achieved out-of-circle effects.
Crypto games should not follow the old path of traditional games and need small and beautiful games or strategy games. Public chains cannot become the engine of the bull market, only DAPPS can.
3. Solana performed well in this round. Its ecological leaders are commendable for their fast follow-up to hot spots and strong technical performance. Some concepts of "new wine in old bottles" such as Depin are resurrected in the Solana ecosystem, but only when these concepts are truly useful will they have the opportunity to become a wealth code. HNT has re-emerged in the Solana ecosystem, and some projects such as BitTensor and Render Network have achieved significant gains.
4. Finally, learn about airdrops. Don’t miss some good airdrop projects.
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