After discussing altcoins, let's talk about Bitcoin. In the past few days, the total market capitalization of the cryptocurrency market has surpassed 4 trillion USD, setting a new historical high. However, Bitcoin's market share has declined rather than increased. The main reason for this is that 120,000 Bitcoin retail investors are discouraged and have been forced to turn their attention to the altcoin market.
It is known that while the cryptocurrency market cap has hit a historical high, Bitcoin's market share has actually decreased. So where has the money gone? It must have flowed into altcoins!
Given this situation, let's boldly speculate on the future trend of Bitcoin. We can look back to last October when Bitcoin was sideways, and the altcoin sector surged wildly.
As shown in the diagram below (somewhat rough, please don't criticize)
Prediction: After consolidating at its current position, Bitcoin will either reach a secondary high or a new high. Regardless of whether it’s a secondary high or a new high, this peak will not be too far from 123,300. During this consolidation period for Bitcoin, altcoins will explode. After the consolidation, if a new high is reached, then a daily top divergence will be established, followed by a correction that breaks the upward trend. The extreme retracement level can be accepted around 108,000-110,000, followed by another consolidation → a surge to challenge 130,000.
