Hello everyone, today I'll share my thoughts on several coin trends.
These types of articles are expected to be updated weekly, usually Sunday.
Let's get started!
View of the entire market
Let me talk about my views on the entire market first.
Obviously, the market reached a peak in November. Huge funds and many crazy people led almost all coins to grow by multiples, but this is obviously the market is overheated, a crazy market, can we trust that is not overvalued? Of course not!
So after the Fed decision to raise interest rates, the money will be greatly reduced for a while, and we are not even sure how much will come back.
Under the influence of capital outflow and people's fear, the market will enter a bear market, which can be said to calm down. Perhaps this should be the time to really start investing.
BTC Analysis
BTC continued to fall from $69,000 on 11/10, which can be considered as a precursor to market cooling. During the decline, there were supports at $56,000, $46,000, and $41,000 for a few days, but obviously the selling pressure was still huge, and the support continued to decline.
I personally think that this may bring the price of BTC back to the price of half a year ago, which is about $30,000, and there is no obvious sign of rebound now. It is not recommended to enter the market.
ETH Analysis
As the second largest currency in the market, ETH obviously cannot escape the influence of BTC on the market. Although the price of the currency rebounded to $4,700 on 12/1 after the decline on 11/10, it is still unavoidable to fall.
Although ETH 2.0 is gaining momentum, I personally don’t think it can save the currency price in the short term, maybe it will be reflected in a few months, but not now, at worst, it will even continue to fall to the price of half a year ago, which is around $1,700.
HIVE Analysis
Although HIVE started to fall on 11/30, it has been stable at $1.4 - $1.2 a few months ago, which is obviously a good phenomenon, but since 1/16, another wave of downward trend has been ushered in, and the currency price has reached $0.8 , based on past history, there may be a lot of support here, but still be careful to continue to fall, if it continues to fall, the next support may be around $0.5.
And I personally think that if it is at $0.8 for a long time, it can be considered to enter the market. It can even be said that as long as the currency price is below $1, I think can continue to buy.
please be cautious when investing
Thanks for reading, see you next time.
