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Bitcoin is starting to decline as predicted. Today, many small altcoins are beginning to surge and lead the rankings. I looked into it, and most of them are junk altcoins that have dropped 50-100 times, now showing a brief rebound, moving against the overall trend during Bitcoin's decline.
This is a very clear signal of a downward harvest. If I’m not mistaken, Bitcoin will fall as expected, and the short-term rise of these altcoins is just a distribution to sell off, a last-ditch struggle, before falling even more sharply.
When Bitcoin hits bottom, possibly in the 5-digit range, or even 4, 3, it’s likely that after the altcoins are thoroughly shaken out, the bull market will truly begin! That will be the long-awaited altcoin season in this bull market, when tenfold and hundredfold coins will be flying everywhere.
Specific coins should be bought only after they hit bottom. The method, approach, and sectors for selecting hundredfold altcoins this time will be different from before. It’s not about buying everything that’s just fallen through; it must have solid fundamentals, a compelling narrative, and aim for continuous profit. Never buy blindly, as the weak may become weaker!
Still, be aware that Bitcoin has a small probability of testing around 740. Let’s see if it tests that level on Monday.