If it really falls, it will feel a bit too hot, but a fall is healthier!

November 14, 2024

The frenzy of the bull market continues, and Bitcoin directly stands at 90,000, leaving no opportunity for the market to take over. This rhythm is unique to the big bull market. Another feature of the bull market is that there is a continuous sector hotspot, and the myth of wealth creation continues to appear, attracting new users and funds to continue to pour in. Obviously, this time it is the MeMe sector, and to be more precise, it is the Meme of the Sonala ecosystem. In addition, the madness of Meme this time, including the strong rise of Doge, is also inseparable from Musk's blessing. He has made an indelible contribution to this bull market.

However, as everyone joked, the worst of this wave are the old DeFi players and Bitcoin ecosystem players, especially those who rushed in at the late stage of DeFi and the high point of the inscription, and are still struggling below the poverty line. In fact, this rule will repeat in every round of bull market. Newcomers and new money are likely to play new projects. There is no problem rushing in during the upward momentum, but if they are successfully brainwashed and converted to long-term beliefs in the process, they are likely to be trapped at the top of the historical mountain.

Of course, it is not wrong to say that some projects will still be in the next bull market, such as the largest MeMe Bitcoin, but they are few after all. This time, the most classic one is the dog that Musk shouted, which is entirely because the abbreviation of the government efficiency department created by Trump for him is also D.O.G.E. This should be called the greatest marketing and edge case in history, which is almost equivalent to using the US government to endorse Dogecoin, which is a super high-level gameplay.

What stage is it now? Various smart contracts have begun to fly around in the group, and then a lot of unknown meme prices will rise and fall, accompanied by a large number of runaway plates. At present, I think this wave is still too enthusiastic, and the market should have a bigger retracement to be reasonable, which should be in the next few days, so I don’t recommend chasing the rise again. On the contrary, those who succeeded in yesterday’s wave can continue to reduce their positions.

Thank you for your attention and support. I want to open a Binance chat room recently, that is, to chat in Binance. If the demand is large, I can open one here, but if the demand is not large, forget it.