I have a feeling that my market analysis for this month is about to come true.
A few days ago, I started constantly mentioning the advantages of Ethereum,
Today, after Bitcoin's counterattack, the mainstream coin that rose the most is ETH.
A few days ago, it was very strange,
Ethereum ETFs kept flowing out, but institutions were continuously buying, especially SBET and BMNR ramping up their positions.
At this point, I interpret it as:
"The outflow of ETFs is actually retail investors panicking and cutting losses, scaring themselves."
Coupled with the significant downward revision of the U.S. employment data from a few days ago, a lot of people would think that the U.S. labor market is about to collapse, and the financial market is also preparing to crash.
In this atmosphere of panic, many retail investors are bearish, but institutions are looking bullish instead.
This is also the reason I keep telling everyone in the group to hold on.
My view is the same as my pinned market analysis:
August will continue to fluctuate, with a subsequent rise towards the middle of the month to welcome a correction,
But after seeing the proportion and purchase volume of institutions holding Ethereum, the correction after mid-month won't drop too deep.
The originally expected black swan, that kind of big correction, might not be seen after all.
Summary:
Sell in mid-August, gradually increase positions in early September, early September is also the last opportunity to get on board.
Moreover, I have raised the target price for Ethereum significantly, and I will write a few more articles about Ethereum later.
