Crypto investors have had a lot to celebrate lately. Bitcoin prices reached an all-time high last March, and Dogecoin more than doubled its value—not bad for a memecoin. The positive performance of some of the most important cryptocurrencies has fuelled optimism in this market. 

加密貨幣投資者最近有很多值得慶祝的事情。去年 3 月，比特幣價格達到歷史新高，狗狗幣的價值也翻了一番多——這對迷因幣來說還不錯。一些最重要的加密貨幣的積極表現激發了該市場的樂觀情緒。

How long should this moment last? Keep reading and find out.

這一刻該持續多久？繼續閱讀並找出答案。

Explaining the Bulls and Bears

For those new to this market, the mood swings of the crypto world are described as “bull phases” and “bear phases.” Digital assets are highly volatile, which means this market’s landscape can quickly change. However, sometimes, we identify recurring patterns in those “mood swings,” signalling an upward trend (bull) or a downward trend (bear).

@media only 螢幕和 (max-width: 42em){ #videoAd { min-height: 305px !important; } #snack_dex2, #snack_mex2 { 最大高度: 50px !重要;最大寬度：320px！ } .video-container { 高度：300px ！邊距底部：20px！ }}@media 僅限螢幕和（最小寬度：42em）{ #videoAd { 最小高度：420px !important; } #belowVideoAd { 最小高度：90px； }} 解釋牛市和熊市 對於這個市場的新手來說，加密貨幣世界的情緒波動被描述為「牛市階段」和「熊市階段」。數位資產具有高度波動性，這意味著該市場的格局可能會迅速改變。然而，有時，我們會發現這些「情緒波動」中反覆出現的模式，顯示上升趨勢（牛市）或下降趨勢（熊市）。

We can earn high profits if we distinguish bulls from bears. These patterns give us valuable information for future decisions, such as when to invest in an undervalued niche or which cryptos to sell. The market for digital assets is vast, and not all swings are visible to the naked eye. That’s why we must use AI and advanced software to follow each move of the line in real-time.

如果我們能區分多頭和空頭，我們就能獲得高額利潤。這些模式為我們未來的決策提供了有價值的信息，例如何時投資被低估的利基市場或出售哪些加密貨幣。數位資產市場廣闊，並非所有波動都是肉眼可見的。這就是為什麼我們必須使用人工智慧和先進的軟體來即時追蹤生產線的每一個動作。

Legal Affairs

I am also optimistic about the regulatory environment surrounding cryptocurrencies. Recently, anti-money laundering laws have been approved by European regulators. Meanwhile, Ethereum is only a few steps away from being classified as a security by the U.S. Securities and Exchange Commission.

法律事務我對加密貨幣的監管環境也持樂觀態度。最近，反洗錢法已獲得歐洲監管機構的批准。同時，以太坊距離被美國證券交易委員會歸類為證券僅幾步之遙。

Ownership of digital assets is also on the rise. Statistics from November 2023 show that there were about 575 million crypto users worldwide, following a sharp upward trend since 2016. Not all of them are investors, though. Many people use cryptos for e-commerce and online entertainment, for instance. So, clear regulations surrounding cryptocurrencies are great news for everybody.

數位資產的擁有量也在增加。 2023 年 11 月的統計數據顯示，全球約有 5.75 億加密貨幣用戶，自 2016 年以來呈急劇上升趨勢。例如，許多人使用加密貨幣進行電子商務和線上娛樂。因此，圍繞加密貨幣的明確監管對每個人來說都是個好消息。

So Far, So Good

Crypto investors seem optimistic about 2024, and they’re backed up by numbers. Bitcoin’s strong 2023 saw its price go up by 150%. Last March, the most famous crypto peaked at USD 73,750, an all-time high. Ethereum prices also went up by 5.8% during the same period after gaining 85% in 2023. From January until now, ETH has increased its value by 55.6%. Meanwhile, Dogecoin prices rose above 133% in one month. 

到目前為止，So GoodCrypto 投資者似乎對 2024 年持樂觀態度，並且他們的觀點得到了數據的支持。比特幣在 2023 年表現強勁，價格上漲了 150%。去年 3 月，最著名的加密貨幣價格達到 73,750 美元的歷史新高。以太幣價格在 2023 年上漲 85% 後，同期也上漲了 5.8%。與此同時，狗狗幣價格在一個月內上漲了 133% 以上。

Market players also seem happy about recent changes made by the SEC. In January, it approved 11 spot bitcoin ETFs. Until then, investors could only hold crypto derivative products when investing in cryptocurrency funds. Now, it’s possible to invest in those funds directly. As a result, trade volumes spiked in most spot bitcoin ETFs, consequently driving BTC prices to an all-time high in March.

市場參與者似乎也對美國證券交易委員會最近的改變感到高興。一月份，它批准了 11 隻現貨比特幣 ETF。在此之前，投資者在投資加密貨幣基金時只能持有加密貨幣衍生產品。現在，可以直接投資這些基金。結果，大多數現貨比特幣 ETF 的交易量激增，從而推動 BTC 價格在 3 月創下歷史新高。

Meanwhile, I’m eagerly waiting to see Ethereum spot ETFs. Companies like VanEck and BlackRock have pending applications with the SEC, which means that expectations regarding their approval are high. I believe that spot Ethereum ETFs have even more potential than their Bitcoin counterparts. Ethereum’s competitive edge would be its unique proof of consensus. This mechanism allows investors to earn via staking, a feature lacking in spot Bitcoin ETFs.

同時，我熱切地等待看到以太坊現貨 ETF。 VanEck 和 BlackRock 等公司正在向 SEC 提交申請，這意味著人們對其獲得批准的期望很高。我相信以太坊 ETF 現貨比比特幣 ETF 更有潛力。以太坊的競爭優勢將是其獨特的共識證明。這種機制允許投資者透過質押獲利，這是現貨比特幣 ETF 所缺乏的功能。

Bulls and Red Flags

I see as many reasons to be hopeful as there are to remain cautious, though. According to statistics from Coinglass, nearly USD 780 million worth of bullish crypto wagers were liquidated in 24 hours in mid-April; it’s the biggest drop in history. The evasive movement is likely due to current geopolitical tensions, leading investors to look for less volatile options, such as bonds or the US dollar.

公牛和危險信號 不過，我認為有很多理由充滿希望，也有很多理由保持謹慎。根據 Coinglass 統計，4 月中旬 24 小時內，價值近 7.8 億美元的看漲加密貨幣押注被清算；這是史上最大的跌幅。這種迴避行為可能是由於當前的地緣政治緊張局勢，導致投資者尋找波動性較小的選擇，例如債券或美元。

The string of liquidations caused BTC to drop 7.5% during this period. Even Dogecoin lost part of its initial success, dropping 13%. However, market experts don’t see a reason for panic. Instead, they see this momentaneous downturn as an opportunity to invest ahead of the next upward movement. The next Bitcoin halving is expected to take place by the end of April.

一連串的清算導致比特幣在此期間下跌了 7.5%。就連狗狗幣也失去了最初的成功，下跌了 13%。然而，市場專家認為沒有理由恐慌。相反，他們將這次短暫的低迷視為在下一次上漲之前進行投資的機會。下一次比特幣減半預計將在四月底發生。