Do you remember the crash in March 2020?

The price of ETH dropped directly below $100, and who would have thought that a year and a half later it surged to $4,800, a staggering 50-fold increase! This market was truly insane.

What about the current situation? To put it simply, it's about paying off debts. The previous rise was too fierce, and now we are in a long adjustment period. First, it dropped from $4,800 all the way down to $880, halving and then halving again, leaving many people cleaned out in the process. Later it rebounded to $4,100 but then turned down again; now we are just rubbing against the bottom area repeatedly, and no one knows where the bottom is.

From a technical perspective, there are indeed some key support levels worth paying attention to right now. But larger indicators react slowly, while smaller ones can easily mislead, so it’s best to observe in conjunction with daily levels. Remember, major trends emerge slowly from smaller levels, but you can't just focus on short-term views, as it’s too easy to get washed out.

Speaking of the essence of ETH, it is completely different from Bitcoin. Bitcoin is unique in the crypto space; its competitors are traditional assets like gold and the dollar. But what about ETH? It has to compete with other public chains for market share. Now there's staking, ETFs, and public chains like Solana and Avalanche that can offer lower fees and faster speeds. How much longer can ETH maintain its advantage? That’s a real question.

However, that being said, as long as there is enough money in the market, the altcoin frenzy will eventually come. This is human nature and also a rule of this circle. But when that time comes, whether ETH can still be the leader is uncertain. The key will be whether it can come up with new innovations and continue to lead the industry.

Regarding the upcoming market, I believe there will definitely be plenty of opportunities during the interest rate cut cycle. Recently, I’ve been researching a potential coin that could see a 10x return in the short term and possibly 100x in the long term. Like and comment to join me in laying out the entire bull market!