ETH quickly surpassed its all-time high, paving the way for BTC to reach new price levels.
During the interest rate reduction phase, ETH continuously shows superior strength compared to BTC, while other major cryptocurrencies also benefit from this price increase.
MAIN CONTENT
ETH aims to exceed 10,000 USD, reinforcing a strong bullish trend.
ETH demonstrates superior performance compared to BTC during the interest rate reduction cycle.
It is advisable to avoid short selling and accumulate more during price corrections.
What price level is ETH targeting during the current bullish cycle?
ETH aims to surpass the 10,000 USD mark, according to the founder of Liquid Capital, Mr. Ly Lihua.
If ETH successfully conquers this threshold, it will set a favorable precedent for subsequent increases, expanding its influence across the entire cryptocurrency market. This breakout is also seen as a positive sign during a period of slight interest rate reduction aimed at stimulating the economy.
Why does ETH consistently outperform BTC during the interest rate reduction cycle?
ETH shows superior strength compared to BTC due to its widespread application in smart contract platforms and the DeFi ecosystem.
The interest rate reduction cycle helps capital flow into risky assets, among which ETH along with many ecosystem projects like ENA, AAVE, Pendle, UNI, SOL, TON, LTC benefit greatly. This is a significant difference compared to BTC, which is seen more as 'digital gold.'
How to invest effectively during the cryptocurrency market growth phase?
The founder of Liquid Capital advises against short selling in a growth market and to gradually increase positions when prices correct slightly.
Long-term holding in a bull market will reduce the risk of missing opportunities when prices rise, while also limiting the use of high leverage to avoid losses from short-term fluctuations. Additionally, seeking profits through OTC trading is also considered an optimal strategy in the current context.
In a bull market, don't be afraid of high prices and don't use too much leverage to guard against short-term price rebounds. Focus on generating income through the OTC channel.
- Ly Lihua, Founder of Liquid Capital, 23/08/2023, X platform
Frequently Asked Questions
Will ETH really surpass the 10,000 USD mark?
According to market experts and current trends, this goal is entirely feasible if the interest rate reduction cycle continues to support capital flows into cryptocurrencies.
Will BTC be surpassed by ETH in the long term?
ETH has a technological and application advantage, but BTC still maintains its position as a store of value, so the trend will depend on many macroeconomic factors.
How should one invest in the cryptocurrency market today?
Avoid short selling, take advantage of corrections to increase positions, and focus on the OTC trading channel to optimize profits.
Will the cryptocurrency market continue to rise as interest rates decrease?
Interest rate reductions often stimulate capital flows into risky assets; cryptocurrencies have growth opportunities but need to monitor global economic fluctuations.
Should leverage be used in a bull market?
Avoid using high leverage to mitigate risks during strong fluctuations, prioritizing safe and long-term positions.
Source: https://tintucbitcoin.com/chuyen-gia-yi-lihua-eth-vuot-btc-len-10-000-usd/
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