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it's the only way those retail investors will take interest in crypto and people are now already talking about taking profits and timing the top of the market.
This bull cycle people are taking more precautions than before. They're risking what they're capable to lose in the memecoins and altcoins
When it comes to taking profits, some of people are just selling every move their Altcoin makes because market have conditioned them into "this move will retrace back to previous lows" so I'll sell here and buyback lower
In these last months of Q3, so now the opposite is going on.
Market is trying to make people get used to with buying and holding their coins instead of selling, they know price is going to go higher so every dip is getting bought as of now
But just before the end of year we'll see a market wide nuke on Altcoins and it's inevitable for a reason.
Bear in December, Resume Bull Run before trump in office
There's a lot of Pnls screenshot on X, people are bagbholding Altcoins and are coming up with insane price targets (mostly KOLs)
Trying to bring exit liquidity and like always in next week or two these people are going to Round-trip most of profits.
From "resume bear in December" I mean a shakeout with pretty good long liquidations that convince people "they've successfully short bull run top" and bear market is here
I'm more like manifesting this whole situation to be ready for whatever actually is coming in next month.
Christmas and End of Year earnings
Before Christmas and new year it makes sense to take profits from the market and overall stock market or crypto will take a correction
Market makers are always eager to take profits before retail investors do.
Last week of december is going to be the time when parabolic bull run will return as stocks and companies will reveal their year end earnings
And another narrative that'll fuel that fire is going to be trump coming into office Jan 2025.
By the time it's last couple of days of December bitcoin should be at $103,990 something.
Look for the Great entries on Altcoins like you're getting on memecoins
As of now memecoins are giving those great entries if someone really believes that this bull run is going to continue next year
There are memecoins like POPCAT, PNUT, WIF etc down -60% in couple of days and these will bottom moving into the new year
If there's any memecoin that I'll buy and hold religiously for next two months is than it is $PNUT because when trump narrative becomes fresh the moment he made it in office
This PNUT memecoin is going to run hard also it's owner is suing new York city for that incident so the lore of PNUT is going to be insane in next couple of months.
Soon altcoins will go down -20% or more within minutes and it's going to retrace all that quickly
I'm planning to go all in the moment anything like that happens in the market.
So if anyone is looking for great entries on Altcoins than wait for those kind of entries. It'll be a universal sign.
In the end I'd love to know how you're planning to enter if you're sidelines or have partially taken profit from the market and now waiting for buying opportunities. Do share how you're going to execute that in the comments.
Posted Using InLeo Alpha