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Has Ethereum's decline not ended? Will Ethereum definitely fall below $1000 this year?
The recent drop of Ethereum from 4100 to 1385 was very sudden, unexpected, and thrilling.
Basically, it wiped out all those fearless long positions, with not a single exception.
Especially for those who previously said the bull market had arrived, that they could make money on anything they bought, the faith of those forced to buy Ethereum has completely collapsed in this round of decline.
However, in my view, if we judge that the current background trend belongs to a bull market, then the more abrupt the drop, the more it indicates one thing: it is too valuable.
Only investment targets that are truly valuable would make the main forces go to great lengths, because pushing down and pulling up both have costs and risks; it’s not as simple as wanting to push down or pull up.
If it really breaks through important support levels and there are no reversal signals appearing even when it reaches crucial support, then it truly indicates that the bull market has ended.
Some people make judgments about bull and bear trends very casually; they see a drop, listen to some news, and based on policies released by these politicians, they think a bear market has arrived just because it has fallen so much. This is extremely irresponsible for their own investments.
If the bull and bear trends were really that simple, people in the crypto world would have already made a fortune, and so many wouldn’t be exiting the crypto world.
You need to understand that your judgment on bull and bear trends will lead to completely different subsequent strategies.
Many people think it’s a bear market now and believe that the next rebound will lead to a big drop, forming a mindset of shorting the rebound.
In my view, this is setting a landmine for oneself; one foot has already stepped into the abyss, yet one is still secretly rejoicing as if they have entered paradise.
#ETH $eth
The recent drop of Ethereum from 4100 to 1385 was very sudden, unexpected, and thrilling.
Basically, it wiped out all those fearless long positions, with not a single exception.
Especially for those who previously said the bull market had arrived, that they could make money on anything they bought, the faith of those forced to buy Ethereum has completely collapsed in this round of decline.
However, in my view, if we judge that the current background trend belongs to a bull market, then the more abrupt the drop, the more it indicates one thing: it is too valuable.
Only investment targets that are truly valuable would make the main forces go to great lengths, because pushing down and pulling up both have costs and risks; it’s not as simple as wanting to push down or pull up.
If it really breaks through important support levels and there are no reversal signals appearing even when it reaches crucial support, then it truly indicates that the bull market has ended.
Some people make judgments about bull and bear trends very casually; they see a drop, listen to some news, and based on policies released by these politicians, they think a bear market has arrived just because it has fallen so much. This is extremely irresponsible for their own investments.
If the bull and bear trends were really that simple, people in the crypto world would have already made a fortune, and so many wouldn’t be exiting the crypto world.
You need to understand that your judgment on bull and bear trends will lead to completely different subsequent strategies.
Many people think it’s a bear market now and believe that the next rebound will lead to a big drop, forming a mindset of shorting the rebound.
In my view, this is setting a landmine for oneself; one foot has already stepped into the abyss, yet one is still secretly rejoicing as if they have entered paradise.
#ETH $eth
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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