Is it worth buying the dip for ETH?

Analysis by BitEagle: ETH @everyone

The current price of ETH is $1600, back to the price of 2022.

This means holding ETH for 3 years has yielded no return.

If you bought at around $4000, you are down 60%.

So we have to ask, can we still buy it?

A few months before the big drop, there were several analyses targeting ETH,

encouraging everyone to swap ETH for BTC.

Now that it has dropped, ETH is still not the best choice.

First, let's compare ETH and SOL.

Currently, the fundamentals of ETH are not as good as SOL, yet its market cap is 3 times that of SOL.

ETH is valued at $200 billion, while SOL is at $70 billion.

Secondly, ETH's ETF has been approved, and the positive news has been released,

but SOL's ETF is still in the pipeline, and the positive news has not yet been released.

So buying ETH is not as good as buying SOL.

Next, let's compare ETH and BTC.

BTC has been included in the U.S. strategic reserves, while ETH has not.

BTC has digital gold attributes, low inflation, and it is getting lower.

The POW mechanism requires mining, which is costly, and miners have machine and electricity costs.

But after ETH transitioned from POW to POS, staking can yield ETH,

resulting in higher inflation and lower costs for ETH.

So buying ETH is not as good as buying BTC.

Overall, despite the significant drop, investing in ETH is not the best choice.

Those holding ETH can exchange it for BTC or SOL (BTC is more stable).