On Saturday, I said at the square that it would definitely come to a big wave, and ETH would return to 2360. I didn't expect ETH to be so strong and go directly to 2320. Why did it drop so sharply? The United States is stirring up trouble again?
US Treasury Secretary Janet Yellen issued a stern warning on Sunday, indicating that if countries do not negotiate "in good faith," the US will restore the highest tariff levels announced by Trump on April 2. This signifies that the US is taking a more aggressive stance in trade negotiations.
Is the cryptocurrency market witnessing another 5.19? Will tariff policies repeat the same mistakes?
On May 19, 2018: The US and China jointly announced a suspension of mutual tariffs and agreed to negotiate to resolve differences. In July 2018, the US violated the consensus and unilaterally escalated tariff measures, leading to the suspension of negotiations.
Now China is becoming stronger and stronger. Since the United States cannot win against China, it has shifted its focus to other countries, and its negotiation stance has become tougher. However, the European Union is starting to fight back.
Valdis Dombrovskis, the European Commission's Executive Vice-President and Trade Commissioner, reiterated that the EU will continue to seek negotiations to resolve trade disputes while also preparing to take possible countermeasures.
Yesterday, Ether fell below 2320. Let's review what happened on 5.19. At that time, Bitcoin plummeted nearly 30% in a single day, correcting close to 50% from its peak. Many altcoins dropped directly by 40% or 50%, and countless contract players went to zero in an instant. It was a complete bloodbath, a ruthless liquidation without any bottom line.
Recently, the market has started to rise sharply, but in the past two weeks, it has begun to correct. There have always been opportunities in the market, but the key question for retail investors is how to seize those opportunities and wait for the right moment. The most important thing is not to hold onto fantasies and to maintain a sense of respect for the market. There are opportunities in times of crisis, but the prerequisite is that you have awareness and patience. Don't fantasize about someone coming to save you; learning to save yourself and staying calm is the true posture of a master.
