How long will ETH continue to fall❓ I started holding ETH in 2021 when I began mining. At that time, I bought more than a million yuan worth of graphics cards for self-mining, and I sold a little to pay the electricity bill, keeping the rest. I didn't expect these past few years to have experienced several roller coasters: in 2021, the bottom was over 800 after peaking at over 4800, then it went up to over 4000 twice, before falling back to over 1300, then a few months ago it reached over 4900, and recently it has been fluctuating between 3000 and 4000. In 2022, the ETH/BTC exchange rate peaked at around 0.08, and I also reallocated to BTC, but later returned to ETH when it hit a low. However, this round, ETH is indeed not performing well; its increase is less than that of BTC and BNB. But I want to say that as long as the bull market is still on (if you think the bull is over, please ignore the rest), ETH might be the last to make a move. Why? The fundamental reason for a real bull market is definitely liquidity. This round, BTC and ETH have reached recent highs mainly due to bullish expectations and ETF capital involvement. The amount of capital from ETFs cannot be compared to the massive liquidity from the US dollar, so just imagine the potential future highs! So why has ETH not risen as much as BTC since coming down from over 4900? Previously, it was driven by the capital from treasury companies entering the market. Everyone needs to understand that companies like MicroStrategy that firmly hold a certain currency are rare, as many are just trying to ride the hype to boost their stock prices. Why do companies like Bmnr and Sbet buy ETH instead of BTC? This is worth pondering! Why have only BMNR continued to buy ETH while other companies have stopped? Because they are not committed ETH investors; when the price goes up, everyone rushes to buy, but when it falls, they all freeze, a typical retail investor psychology. Therefore, it is necessary to kick out the uncommitted holders. BMNR aims to hold 5% of the total ETH, and currently, it is already over 3%. Have you noticed that 3800 is the majority purchase price of their ETH, just like the strategy for over 60000 back in the day? When the whales have had enough, that will be the moment to take off. Building a position may take a long time, but the takeoff could be just a few days? They won’t give you a chance to get on board. So if you are like Tom Lee and a die-hard ETH fan, please hold on! History may repeat itself, but it won’t necessarily play out the same way; not every round will ETH be the first to charge; this round might be trailing. BlackRock's staked ETF has not yet been approved, and in December, ETH is about to undergo a major upgrade. This month just saw a 25 basis point rate cut, and in December, there is also a possibility of #ETH #BTC .
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