It is difficult to change the plight of altcoins in the short to medium term, focusing on BTC and mainstream currencies

According to the latest edition of "TheTie" report,Crypto headlines mentioning words like "altcoins" and "altseason" hit record lows in October. Grayscale Investments, the world's largest digital asset manager, just completed its third-quarter review, rebalancing its Digital Large Cap Fund (DLC) by reducing all altcoin composition.

Since the beginning of this year, the number of altcoins mentioned by the media in the currency circle has decreased, and even investment institutions are reducing the share of altcoins in their investment portfolios.The market performance of altcoins is worrisome, and their influence is gradually weakening. In addition to the reduction of market share and the decline of currency prices, what is more serious isAffecting the Confidence of Altcoin Holders。

Since 2017, many altcoin project parties have raised a lot of funds from retail investors with beautiful white papers, grand visions, and excessive marketing strategies. However, the vision they once promised is just a spectacle and has not come true today. to the point,The progress of the project and the progress of technology implementation are worrisome, and the project token does not have any actual use scenarios and ecological landing。

Therefore, under the downward trend of the overall environment, it is difficult for altcoin projects to avoid the end of being abandoned by investors.The collective loss of altcoins as an important part of stimulating market vitality has also plunged the market into a quagmire, except for BTC and a small number of mainstream currencies, investors dare not invest in many counterfeit currencies, resulting in extremely poor liquidity of the currencies, the market is facing heavy selling pressure, the strength of the market is insufficient, and the currency price continues to fall. Everyone has seen the power of self-purification in the financial market, but this process is far from over.Many altcoin projects will perish in this round of bear market cycle. Everyone should have a rational understanding of this and don't have illusions。

Since BTC surged and fell back in June-July, the entire currency market actually lacks the effect of making moneyIn the first half of the year, we can also see market hotspots such as LTC halving concept market, mainstream currency oversold rebound market, platform currency IEO concept market, and model currency prevalence. Participate in it, the market transactions are relatively active.

However, in the second half of the year, apart from the Bakkt futures exchange, there were no hot concepts and market trends. Even the launch of the Bakkt exchange failed to bring about an improvement in the market. Great Falls.

As far as I understand, it will be next year at the earliest that Libra will make substantial progress, and it is difficult for the Bitcoin ETF to have a major reversal in the short term.From now until the end of the year, apart from BTC, BCH, BSV halving concept and ETH 2.0 concept, there are no other hot spots to speculateOperation suggestion:

Operation suggestion:

BTC: 4-hour level. After rebounding to 8,300 US dollars yesterday, it encountered resistance, and then it has been hovering below the MA90 moving average. On the whole, it is sorting out the trend along the descending triangle. However, judging from the recent volume performance, the volume of the rebound on October 7 was greater than that on September 30, but the rise in the currency price was lower than the former, which means thatThis wave of rebound after the festival is much weaker than expected, and the resistance above is stronger。

In the short term, it is recommended to pay attention to the MA60 moving average support at the hourly line level (around 8,100 US dollars). If it is effectively broken, it means the end of this rebound and the market may drop again. The key to a breakthrough is to increase the volume and stand above 8,300 US dollars, and then there is a chance to touch the box range of 8,500-9,100 US dollars, but the short-term upward pressure is too high.

ETH: Short-term highs and falls, the trading volume has shrunk slightly, the daily line level pressure is at the MA60 daily moving average (185 US dollars), before it fails to break through effectively, there is not much hope. The short-term support is 178 US dollars, and short-term chips need to stop loss after falling.

LTC: The 4-hour level tends to sort out the trend, the range of 53-59 US dollars fluctuates, and the pressure is at 60 US dollars.

BCH: It is also going up and down. The volume is weak, and it is difficult to break through the short-term pressure of 240 US dollars.

EOS: In the short-term, the trend is organized in the small range of 3-3.25 US dollars, and the pressure is in the range of 3.5 US dollars (MA60 daily moving average). In the case of insufficient energy, it is difficult to break through. The support is at 3 US dollars, and if it falls below, pay attention to the risk.

XRP: short-term rebounded to around USD 0.28 and was suppressed by the MA90 daily moving average. It is necessary to pay attention to the breakthrough of this moving average. If it cannot gather energy in a short period of time and form an effective breakthrough, the disk will be the same as the market on September 18 , It fell into a downtrend after rushing high and fell into a negative trend, with support at 0.26 US dollars.

TRX: The daily level is oversold and rebounded, standing above the MA60 daily moving average. With the cooperation of short-term volume, it is hoped to impact the pressure of the MA90 daily moving average (0.0186 US dollars), but we need to pay attention to the trend of BTC. TRX will go independent in the short term The probability is low.

ETC: Daily level, the volume is weak, and the overall trend is sideways. Only when the volume breaks through 5.15 US dollars will there be a new market.

Platform currency: Linked with the broader market to consolidate the trend. Affected by the good news of the development of OTC transactions, BNB's currency price rose for a short time, but in the case of a bad overall market environment, don't expect too much. The short-term pressure is near the MA360 year line (18 US dollars); HT shrinks to consolidate the trend, There is selling pressure around USD 3.3, and the short-term support is USD 2.9; OKB has a weak short-term rebound trend, and the pressure is at USD 2.2; GT continues to shrink and consolidate the trend, fluctuating slightly up and down at USD 0.52, and trading is extremely inactive.

Altcoins: It’s still the previous point of view. Unless you ambush in advance, it is not recommended to enter the market to chase up the currency with a large increase.