It’s already 2024 before I know it. Before I start bragging, Xiaoqi wishes all my fellow coin friends a happy new year and hopes that you can all be free this year.
This year is the bull market year that everyone is looking forward to. What do you think the market will reach? The previous high of 69,000? Or will it break 100,000? Or will it break 200,000 as predicted by a certain expert? Xiaoqi thinks that the goal this year is to break 100,000. Some people may ask, who gave you the confidence? Fish Leong? Let me tell you my reasons below! Give you some chicken blood.
The right time, right place, and right people
This concept has appeared many times in my articles. In 2024, the Federal Reserve is likely to release money. As the CPI gets closer and closer to the expectations of "Master Bao", the Americans have no reason to continue to damage their own economy.
In a blink of an eye, we have also experienced the despair of high-intensity interest rate hikes and witnessed the tenacious vitality of leeks after the interest rate hikes slowed down. Each stage of tightening and easing brought completely different market reactions. It is almost certain that as long as the money is released, a large amount of funds will inevitably flow into risky markets such as the cryptocurrency circle and the stock market.
In addition to the macro-economy, the development of the cryptocurrency industry itself is equally important.
In 2023, we witnessed two big waves of inscriptions (in May and at the end of the year), and the market also recognized this new concept. If we review the last bull market, the starting point is that Ethereum's expansion needs gave birth to major public chains (solana, avax, etc.), and then the actual products produced on the chain are defi, blockchain games and nft. What about this round? It can be understood as the explosive narrative of the Bitcoin ecosystem. Now that we have inscriptions (runes are on the way, whether they can be formed is another matter, but I have a lot of cooks, and I personally hope it will become a climate), what else will there be? Depin? RWA? Or something new? I think the story of the currency circle itself has just begun. Don't be anxious, my friends, there are still many opportunities to make money, don't lose your composure.
The last big sector. To put it simply, it is the ETFs that have been killing everyone recently. To be honest, it is good for the industry itself that so many institutions are involved in this matter, because there are more narrative points. The current situation is that the expectations of ETFs have been digested by 7788. After all, this thing has also hurt many people's accounts.
So, I think we need to see the actual situation next. That is, how much money will be brought in after the ETF is approved. For example, in the last round of Grayscale, even if it cannot be redeemed, it has made GBTC a scale of tens of billions. It attracted institutions such as Sanjian to come in and trap them. The beginning of the story is beautiful, and the pie goes all the way west, reaching a maximum of 69,000. Even if the ending is a mess, it leaves everyone with enough time and opportunity to eat meat.
To sum up, a new round of money release + narratives revolving around Bitcoin + more off-market funds are paying attention to entering the market. I think the effect of this round is stronger than the previous round. Especially Bitcoin, it should not be a target that everyone dislikes in the bull market. Breaking 100,000 should not be a big problem, after all, breaking 100,000 is just a little more than double the space. When everyone reacted in the last round (when DeFi was hot, the price was 10,000 to 15,000), it was also 4 to 7 times. And the narrative of the last round mainly started with Ethereum. So Xiaoqi feels that the pattern has opened up!
But let me remind you here, everyone has seen the crash in the past two days. With a sudden spike, the market easily made 500 million US dollars as if it was a piece of cake.
We have been waiting for a drop. We think the market needs to clean up the chips, and then the bull market will start. But I also overlooked that the most important thing to clean up is leverage, after all, it is easy to operate. So Xiaoqi recommends that you don't use leverage during special periods. If you really want to play, you don't mind if your position is blown up.
Well, that’s all I have to say for today! I think there are still many opportunities in the future. It is very important to be at the table. Don’t play yourself to death. We all have a bright future. . . .