ETH Bull Market Weakness? People's Prejudice Against ETH is Like a Mountain
During the bull market in 2021, ETH once surged to a high of $4,868. At that time, everyone was frantically mining and buying graphics cards, and the entire market was in a frenzy. Why was ETH so popular then? There are two main reasons:
The enthusiasm for mining among the masses
At that time, mining profits were very high; as long as you bought a graphics card and mined for half a year, you could break even or even make a profit. Almost everyone had a graphics card at home 'silently making money,' and this craze pushed ETH to its historical peak.
The graphics card speculation frenzy
Scalpers both domestically and internationally are frantically buying graphics cards, combined with Nvidia's deliberate 'squeeze the toothpaste' supply strategy, alongside AMD's relatively weaker market influence, leading to a situation of supply not meeting demand, which has spiked the enthusiasm for mining. This supply tension has further boosted ETH's market heat.
