Eugene: Meme Coins Are Pointing the Way to the Future of the Market

BlockBeats News, January 2nd, trader Eugene Ng Ah Sio posted on his personal channel stating that altcoins are guiding the market's future direction.

Previously reported, on December 26th, Eugene stated that he had gone long on Bitcoin and some small-cap altcoins. Now, almost everyone is resting during the holidays, even the "whales" are watching and not taking the bait. The (Bitcoin) price failed to effectively drop below $84,000. The entire market's volume has completely collapsed, and sellers are quite exhausted.

As long as a few large buyers enter the market, the thin order book will be easily torn apart. "Going long below $90,000 has a nice upside potential, with a clear stop-loss position. I would rather explore here now than hesitate or be indecisive at $95,000 or even $100,000. In addition, historically, January is usually a month of high volatility. I predict that as December ends, this volatility will somehow return."