Two weeks ago, Eric Trump urged on his Twitter to buy $ETH with the comment — saying, you will thank me later.
However, it didn't take even two weeks for Eric to decide to clean up his post — he deleted the second part, which was about gratitude. Such a "mature" behavior for a public figure 🙂
At the time of the call, Ethereum was priced at $2900, now it is trading $1000 lower and, seemingly, the price is great, but for some reason, I don't want to buy it anymore 🙂
Good news: retail is thoroughly scared. "Thanks" to Trump and his spontaneous (or not) decisions and threats. And manipulations, of course: Trump’s coin, the announcement of a crypto reserve over the weekend mentioning specific assets, about which someone from his entourage will later comment something like "he just named them — he just saw them in the top 5."
An old post of Trump is "circulating" on Twitter stating that if the Dow Jones index loses 1000 points in 2 days, the president should be impeached immediately, but being a proponent of a single opinion and being accountable for what he said is not characteristic of Trump: he didn't care for cryptocurrency before these elections until he realized it allows him to attract additional voters.
In general, the whims of the "crypto president" do not do the markets any favors. Everything is falling: stocks, indices, and cryptocurrency is no exception here.
But there is a ray of hope: retail is scared. Crypto bloggers predict Bitcoin at $55,000, news sources report weekly outflows. The general mood can be described by the phrase "Abandon all hope, ye who enter here," and such a mood often arises somewhere near the bottom.
Of course, surely no one will say: with Trump’s arrival, the cryptocurrency market has become even more manipulative than it was. But in my opinion, altcoins can start being bought back from current levels.
Important: without leverage.
Once again: without leverage.
In general, it's better to forget about them in the current market conditions. If you have spare money, purchase assets at 20%. Or wait for a local reversal: it might be nearby.