Entry to the Crypto, buy Token, 14-08-2024

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Entry to the Crypto, buy Token

Bitcoin Market Analysis
I see Bitcoin’s dominance as of today staying at a high level, approaching 61%. This suggests that investors continue to hold their positions in Bitcoin, which shows confidence in this cryptocurrency even during periods of market volatility. The current situation in the market is reminiscent of the events of 2022, when Bitcoin also showed false breakouts and ended with a fixation below the upper limit. Given the similarity of the current charts with past periods, we can expect the same trend to continue in the coming months. This means that the market can remain in this phase until the beginning of the high season.

Waiting for the high season

I analyze that the question of the beginning of the high season remains relevant for many investors. In my observations, altcoins usually show significant growth after Bitcoin completes its accumulation phase and stabilizes. Historically, strong alt seasons have started in the fall, and given current market conditions, I expect we may see a similar scenario this year. This will be especially noticeable after Bitcoin’s dominance begins to wane.

Phantom (FTM) and prospects
Phantom (FTM) is one of the projects that I pay special attention to. The project has an active developer community and is constantly being improved. Despite the slight drop in price, the Phantom remains a promising asset for long-term investors. The graphs show that the project is currently in a potential reversal phase, which could be a good opportunity to enter the market.

EOS and its position
As for EOS, which was once called the “killer of Ethereum”, its current situation is not so bright. I can see that the project is not living up to the expectations placed on it, and there are no significant signs of recovery at the moment. However, this does not mean that EOS is completely lost for investors. For those who believe in the project’s long-term potential, now may be the time to rethink their strategies.

Result
Overall, I see the cryptocurrency market continuing to be in a dynamic state, with Bitcoin as the main focus. Anticipation of the alt season remains high, but Bitcoin stabilization is necessary for it to begin. Phantom continues to demonstrate its appeal to investors, while EOS needs further analysis and a cautious approach. Continue to monitor the market and make your investment decisions responsibly.

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