Ethereum fell from $4100 to $1300 in 112 days, but recently, four large bullish candles doubled it to $2550. This rollercoaster market has completely thrown the market into chaos. Many people are still doubting the 'bear market theory', and those who once confidently said Ethereum would drop to $1000 are now collectively silent. Those who missed the boat are kicking themselves daily, while those holding are afraid of a pullback and don't dare to act, making the entire market feel like gamblers thrown into a blender.

The main players are playing a psychological game. Three months of slow but steady losses made retail investors hand over their chips, and then a violent surge in just four days completed the harvesting preparation. Now, there are two factions arguing fiercely online: one side claims this is just a dead cat bounce, and that a rapid rise is sure to lead to a crash; the other side insists that a bull market is here and they are going all in. The worst off are those left behind, watching unbought ETH in their accounts turn red every day, sneaking peeks at K-lines at midnight to the point of insomnia.

In fact, this wave of market movement had long been signaled. The Ethereum 2.0 upgrade doubled transaction speeds, Layer 2 scaling solutions began to materialize, and Wall Street institutions went on a buying spree for ETFs; this was not a coincidence. But the problem is, retail investors are always one step behind, thinking a 30% rise is just a rebound, looking for reasons to short at a 50% rise, and only regretting when it hits 100%.

Now, those holding positions are the most conflicted. Sell? It clearly looks like it's about to break $3000; hold? But what if the main players suddenly dump? Those analysts advising people to 'run fast' are the same ones who were shouting 'zero' three months ago. The real question is: are you holding your ETH for the long term, or are you betting on short-term fluctuations? If it's the former, then a pullback now is an opportunity to accumulate; if it's the latter, it's advisable to run now, because playing the emotional game of market fluctuations is not for ordinary people.

Remember, a bull market is never built on daily gains alone. In 2024, Bitcoin fell from $16,000 to $13,000, only to later surge to $110,000. The key lies in the underlying logic: Ethereum's gas fees have dropped, the Layer 2 ecosystem is thriving, and regulatory policies are loosening; these are the hard facts supporting the price. Rather than guessing tops and bottoms every day, it's better to study what the project teams are actually doing. Those who call it 'junk coins' clearly don’t understand the power of smart contracts and decentralized finance.

Finally, a harsh truth: the market is always right; the only thing wrong can be your judgment. Either elevate your understanding to keep up with the rhythm, or honestly save money and stay away from the casino. Don't wait until the bull market ends, and then come asking, 'Why didn’t I sell back then?'