CoinWorld reported:
Overnight, BTC rapidly approached the key resistance level of 64k, which corresponds to the 30-week moving average. The major event last week was the unexpected significant interest rate cut by the Federal Reserve, alongside our central bank’s surprising decision not to cut rates. Additionally, with USDT falling below 7, the financial war has entered a new phase. If cannons are ineffective, then we turn to rhetoric, initiating a vigorous war of public opinion!
Looking ahead to the three major variables for the fourth quarter:
1. The outcome of the U.S. presidential election;
2. The risk of economic recession in the U.S.;
3. The Federal Reserve’s cessation of quantitative tightening (QT).
CZ will be released on September 29: As a pivotal figure at a certain exchange, his potential release could provide a short-term boost to the exchange’s series, such as related concepts like MEME and Four, which are currently performing well, along with projects invested in by the exchange. His personal developments also directly affect the market’s confidence, and there is anticipation for his return!
The price movements of BTC are quite intriguing; when it comes to breakthroughs, one should tread cautiously rather than become overly euphoric. In the BTC cycle, pay attention to BlackRock’s arrangements this year regarding ETFs and options. The theory of BTC’s development stages suggests we cannot leap from the current SoV phase… From Saturday’s movements, it appears mostly sideways, with a slight drop on Sunday, but not exceeding 1000 dollars. Today, Monday, the price action has become somewhat abnormal; after scanning the news, there was no significant impact—just pure selling and buying. At 6 o’clock, there was a downward spike, followed by a rapid rise to the 64000 high, then another downward spike. The brief but intense market movements over two hours were more exciting than the past few days. As the saying goes, “The clouds begin to rise and the sun sinks behind the tower; the mountain rain is brewing and the wind fills the building.”
Today’s market analysis: From the K-line perspective, BTC on the hourly level shows an upward trend, the 4-hour level has just entered an upward trend, and the 12-hour level was initially set to decline but has now been pulled back. It is expected that the market will open high today and continue to rise. It is suggested that those who previously reduced their positions can rebuild their holdings in anticipation of further increases, targeting the range of 66000-68000. After the interest rate cut is implemented, a slight adjustment may occur; however, the likelihood of a significant drop is low, so there is no need for excessive worry. The expectations for the long cycle remain unchanged, and bullish sentiment is still in place. (Keep an eye on how the U.S. stock market performs tonight; if it falters, BTC may dip.)
It is now basically confirmed that in 2024, innovation will be lacking, and the crypto industry will have only two lines: large institutions working on ETFs and small retail investors trading meme coins. The entire altcoin market is about to sound the drums to signal the start of the hunt. Taking the hot meme as an example, let’s analyze the current situation and how to break through:
1. The current overall state of memes is such that even a small item with a maximum market cap of 2 million has numerous chains with different capitalization to compete, all set up for pump-and-dump schemes without even managing a Telegram or group. It’s all about pvp in small groups, and no one cares whether these worthless coins have a future; they just want to pull people in to offload. This approach has problems; it’s purely negative-sum gaming. Memes need to enter new gameplay to break through.
2. What might the new gameplay for memes be? I believe the best approach is to focus on a solid target, gathering as many people from different countries as possible to join in continuously—each holder ensures they join as early as possible and holds on like a diamond hand. The requirement here is that the target must be special, cannot be easily falsified in the short term, and must have long-term appeal, ideally something that resonates with those in the crypto space. The new gameplay will no longer be about innovating on mechanisms like pump-and-dump but rather about gathering people!
Looking at Ethereum’s memes as diamond hands, they are bound to provide rich returns in the long run. If there’s a good IP, it must be pursued to the end, preferably with profit, since volatility is a factor. Ethereum is more suited for diamond hands, and the golden dog will definitely provide countless opportunities to enter. Only pvp without a strong narrative will flow in one direction.
The strong empower themselves and do not complain: I believe real strong individuals do not complain about their environment; only weak people look for external reasons. The crypto industry is especially so; in this field, there is no “mom” to help you, and if you fail, you can only blame yourself. The market follows the law of the jungle: survival of the fittest; the unfit should be eliminated. Internal factors determine success or failure, and ultimately, whether one can face external challenges depends on their strength and mindset. Only by being internally strong can one turn bad situations into good ones.
Recommended three promising altcoins worth considering:
1. OM
Market Cap: $982 million
OM has recently shown remarkable performance, doubling in value over the past six months! Although there has been a slight pullback recently, the upward momentum remains strong. If it breaks through the resistance level of $1.34, OM could rebound to $1.64, providing investors with a potential return of 30%. As a project focused on decentralized finance (DeFi) solutions, OM is expected to follow Bitcoin’s bullish trend and is definitely an exciting altcoin to watch!
2. DODO
Market Cap: $108 million
Highlights:
1- Flexible liquidity: The proactive market-making algorithm reduces slippage, supports multi-asset trading, is easy to operate, has a clean interface, and is multi-chain compatible. It especially serves token issuance, enhances liquidity, and promotes trading of long-tail assets.
2- One-click multi-chain token issuance: Expands project participation, attracts new projects, enriches asset types and trading pairs, boosts user traffic, and broadens market boundaries.
3- Meme platform and one-click token issuance: Keeps pace with hot trends, attracts enthusiasts and investors, enhances community interaction; creates token pathways for BTCFi projects, lowers the entry barrier for meme coin issuance, and fosters market development. Self-mining enhances user participation and generates profits for meme coin holders.
4- Pegged Pool: Links BTCFi assets with BTC prices, reduces volatility risks, stabilizes specific meme coin prices, and promotes healthy development.
5- Low market cap advantage: High growth potential, significant return potential, flexible strategic adjustments, facilitating the launch of new products and services. Significant support from top institutions: brings rich resources and outstanding reputation, enhancing investor confidence and elevating industry status. Encourages collaboration, broadens business pathways, and attracts users and project parties.
3. SAGA
Market Cap: $264 million
SAGA may be an obscure coin that could grow tenfold; it has quietly emerged as an L1, yet few are discussing it. The Cosmos ecosystem has produced many skyrocketing coins, but that is another story. A constant principle is that coins that have been speculated on are unlikely to be speculated on again; for instance, Tia—new coins are favored over old ones, and coins will only rise steadily without much development. Tomorrow could see significant volatility, likely upward. If you want to add some new coin holdings, considering SAGA and buying in batches is reasonable!
SAGA is a Layer 1 network built on the Cosmos SDK, with limitless horizontal scalability potential. This project aims to simplify and enhance the DeFi and Web3 gaming industry by providing a more customizable and streamlined application development process.
