Tonight, after the rate hike, the market is set to welcome Bitcoin to $95,000! Altcoins may see a sudden surge on the daily chart, quickly repairing the weekly chart, and then directly pushing up. If price movements were a straight line up or down, nobody in the crypto world would lose money. Today I saw a profitable trade of 800 USDT that made it onto the 7-day profit leaderboard—this shows that most people are actually losing.
News alone can’t change the chart; it can only accelerate what’s already happening on the market. For Bitcoin to reach 100,000, it might take a month; but if good news comes out, it may only take half a month to get there. Everyone who has been through the bear market knows this: when the news comes flooding in, the market still turns down and keeps dropping. In a bull market, no matter how huge the negative news is, price will still rise. I said last week that this week’s news could be good or moderate, but it can’t be too good. The main players will rack their brains to shake the market out, then lift it quickly. What we’re seeing as consolidation right now is mainly to wash out paper hands and push the weak holders away. If the news is too good, it can actually drag the market.
These altcoin moves may continue rallying until mid-November before a collapse; but I think there will be a pullback around late October. After the mid-term election, the market should continue rising, just like the November election in 2024. Then Bitcoin will keep climbing, but altcoins won’t follow immediately—so the most intense altcoin rally won’t be the first leg of Bitcoin’s move, or even the later leg; it’s in the middle. But the middle phase is the hardest of all: it tests your direction, your patience, and your bottom holdings.
News alone can’t change the chart; it can only accelerate what’s already happening on the market. For Bitcoin to reach 100,000, it might take a month; but if good news comes out, it may only take half a month to get there. Everyone who has been through the bear market knows this: when the news comes flooding in, the market still turns down and keeps dropping. In a bull market, no matter how huge the negative news is, price will still rise. I said last week that this week’s news could be good or moderate, but it can’t be too good. The main players will rack their brains to shake the market out, then lift it quickly. What we’re seeing as consolidation right now is mainly to wash out paper hands and push the weak holders away. If the news is too good, it can actually drag the market.
These altcoin moves may continue rallying until mid-November before a collapse; but I think there will be a pullback around late October. After the mid-term election, the market should continue rising, just like the November election in 2024. Then Bitcoin will keep climbing, but altcoins won’t follow immediately—so the most intense altcoin rally won’t be the first leg of Bitcoin’s move, or even the later leg; it’s in the middle. But the middle phase is the hardest of all: it tests your direction, your patience, and your bottom holdings.
