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The recent trends in the crypto assets market are noteworthy. If the price of Bitcoin cannot break through the key resistance level of 119,469, it is likely to continue declining. Potential support levels are around 117,123, 115,123, and 113,812, respectively. However, if the price can break through the important threshold of 121,000, there is a possibility of further advancing to levels of 128,000 or even 135,000.
Nevertheless, the market generally believes that the likelihood of Bitcoin reaching new highs in the short term is low. Even if there is an increase, it may need to go through a correction before it can be realized.
It is worth noting that the three recently passed bills have had a profound impact on the Crypto Assets industry. The improvement of these regulations marks that the industry is gradually entering a more mature and stable phase. As the regulatory environment becomes clearer, we may see a reduction in market volatility, and extreme price fluctuations may decrease.
This trend also suggests that, unless there is a global systemic risk, other alternative coins (commonly known as "shanzhai coins") may find it difficult to replicate the explosive growth of the past. Investors should adjust their expectations and not anticipate seeing very high multiples of returns.
Overall, the Crypto Assets market is undergoing a transformation period. Investors need to adapt to this new market environment, adjust their investment strategies, and closely monitor changes in regulatory policies and their impact on the market.