Following Trump's Bull Market

Many old players and seasoned investors feel that the bull market in 2024 will be vastly different from that of 2021, and that it presents a different level of difficulty.

This article analyzes the unique characteristics of the 2024 bull market in crypto assets, highlighting the role of Trump's presidency and Western concepts in shaping the market narrative.

The article begins by discussing the challenges faced by the bull market, including the lack of native narrative creation, absence of new investors, influx of projects with high FDV for harvesting, and the stalled progress towards mass adoption.

Despite these challenges, the article argues that the key to wealth often lies within the riddle itself. Following Trump's presidency, crypto assets have seemingly become a market dominated by the West. Almost all major positive news and narrative innovations in this round have come from Western capital, whether it's SocialFi, DePIN, or Restaking.

In this "most difficult bull market in history," one can simply switch to Easy mode by following Trump and Western concepts. Trump's Positive Meme

BTC

After Trump took office, BTC was the first to lead the charge. With the memories of the 2021 boom still fresh, many old players hope to replicate the previous Alt season, while new players are lost in the fantasy of "going all in on altcoins and lying down to get rich." However, in this bull market, holding BTC has already outperformed a portfolio full of altcoins.

Since the beginning of the year, BTC has surged from 40k to around 98k, achieving a return of over 200%. The only assets that have outperformed BTC during this period are those in the meme sector and some mainstream public chain tokens (such as SOL and SUI), while most altcoins have shown little price difference compared to the beginning of the year.

Before the election, Trump has been publicly promoting BTC. At the Bitcoin 2024 conference held in Nashville, Trump appeared and delivered a nearly one-hour speech, claiming he would "fire the SEC chairman" and "never sell your Bitcoin." He also announced plans to establish a national strategic reserve for Bitcoin and ensure that the U.S. becomes the world's crypto center and a Bitcoin superpower. After Trump's election, the various favorable policies and positive commitments towards Bitcoin are quite rare in the global capital market. With Trump's endorsement, BTC broke through the long-standing resistance at the 70k mark with brute force, achieving a 40% increase in a short period.

In addition to the ETF, the national strategic reserve and Bitcoin superpower narrative have become the biggest stories for BTC.

DOGE

As the original meme coin, Dogecoin has deep ties with Musk and Trump. In April 2019, Musk tweeted that Dogecoin was his favorite cryptocurrency, calling it "cool." In May 2021, during an episode of Saturday Night Live, Musk referred to himself as the "Dogefather" and called Dogecoin "the people's crypto." Over time, Musk has become increasingly associated with Dogecoin, even becoming its public image spokesperson. To this day, DOGE has gone through four bull and bear cycles but remains firmly in the top ten of crypto market capitalization.

Most people hold the belief that "the market cap is too large to move" and "buy new, not old," and thus do not pay much attention to DOGE. However, after its launch, DOGE embarked on an independent rally, stunning everyone with its "path to growth." It has quadrupled in the past year and doubled in the past month, heading straight for $1.

PEPE

The name Pepe comes from the character Pepe the Frog created by American cartoonist Matt Furie, first appearing in his work "Boy's Club." This character won affection with its cute appearance and comical expressions, gaining some attention on the internet. Pepe the Frog first appeared in a comic in 2005 and later became a widely recognized meme in internet culture. Pepe Coin was launched on Ethereum in April 2023 and began to surge in February of this year after nearly a year of consolidation. It has since maintained a market cap fluctuating in the billions.

As a popular meme in the West, Pepe went live on Robinhood and Coinbase after being dormant for six months. Robinhood, the largest trading platform for U.S. stocks, previously only listed DOGE and SHIB as meme coins, and the addition of PEPE indicates the U.S. market's recognition of PEPE. This significant development for Pepe in the U.S. market led to a 50% surge, briefly breaking the $10 billion mark.

WIF

In late December 2019, images of various logos and images added to beanies became popular as profile pictures among esports organizations and celebrities on Twitter. WIF, short for dogwifhat, was inspired by the original meme "DOGE," combined with the viral characteristics of the beanie.

WIF's trajectory is similar to that of PEPE, making it a younger sibling of PEPE.