Golden Finance News: Top trader Eugene Ng Ah Sio shares important viewpoints on his personal channel. Despite the highly volatile cryptocurrency market, especially the fluctuating altcoin market, Bitcoin has maintained a clear upward trend so far and is currently actively attempting to break through the $110,000 mark again. Whether this key price level is broken through or not not only concerns the trend of Bitcoin itself, but will also have a profound impact on the entire cryptocurrency market.
The upward trend of Bitcoin continues, presenting a good opportunity for short-term trading in altcoins
Eugene Ng Ah Sio pointed out that as long as the upward trend of Bitcoin continues, the altcoin market is expected to embrace opportunities for short-term or swing trading. As Bitcoin steadily rises, the upside potential of various altcoins may also be re-evaluated and revised upward. This market phenomenon is a concrete manifestation of the “wall of worry” – early long investors in the market began to gradually take profits and exit, while as the rally of Bitcoin gained more recognition, marginal buyers started to enter and take over, driving the market forward.
For cryptocurrency investors, this means that while closely monitoring the trend of Bitcoin, they can prudently seize the short-term trading window of the altcoin market and capture potential investment returns. However, traders also caution that the altcoin market has always been high-risk. While seizing opportunities, investors need to manage risks well and avoid blindly following the trend.
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