《Continuous Decline, Summarizing All Reasons for Ethereum's Poor Performance, That's All!》
Unclear Positioning: Bitcoin has a unique ecological niche, attracting traditional financial institutions with the narrative of "digital gold," while Ethereum lacks a similar clear label and faces many similar tokens in the market. Despite the presence of DeFi and NFT ecosystems, the application scenarios are scattered, making it difficult for traditional investors to resonate.
Delayed Technical Upgrades and Competitive Pressure: The Ethereum 2.0 upgrade aims to address high gas fees and network congestion, but progress has been slow and the effects have not met expectations. The continuous decline in gas fees reflects a lack of ecological activity. Meanwhile, blockchains like Sol and Ada offer lower fees and higher efficiency, leading to a loss of users and capital, which weakens demand for Ethereum.
Inflation and Whale Activity: There is no doubt that the volume of Ethereum is large. Based on confidence in long-term holding and technical characteristics, old whales continue to sell, suppressing prices.
ETF Performance: Ethereum ETFs have not attracted the expected funds, with inflows lagging behind Bitcoin ETFs. Since approval last year, it seems that the biggest benefit has completely disappeared, instead becoming a negative factor affecting market confidence.
Regulatory and Economic Environment: Trade wars and economic slowdown have led to economic stagnation, leaving ordinary people without money, while the top level is irrationally focused on Bitcoin. Moreover, Bitcoin is not escaping the impact of increased tariffs, let alone Ethereum.
If we really want to talk about a bottom, maybe 850-1050?
What other bearish factors are there for Ethereum? Can they all be listed out? I'm ready to buy the dip, I want to understand it clearly even if it means facing death.
