Ethereum plummets after hitting $4800! Institutions buy 150,000 units, but technical analysts say the top has been reached
Ethereum first rose to $4800 in August, then fell back down. Technical analysts suggest it may continue to drop; institutions (like BlackRock) are buying aggressively, with ETF sizes breaking records, and Wall Street bigwigs are optimistic; however, the market is buzzing with debates—some believe it's time to exit as it's at the top, while others think it can still rise.
After ETH switched to energy-saving mode, it's more environmentally friendly, but inflation may cheapen the coins in retail investors' hands; technically, there are still issues (like insufficient scalability and a lack of users), affecting its capability to be the world's computer.
In the short term, don't rush to chase the highs; focus on the crucial level of $4000; in the long term, watch the institutions' sentiments, but after the bull market ends, it may drop back to half. The risks are: institutions suddenly withdrawing funds, changes in Federal Reserve policies, and other new coins stealing the spotlight.
Institutions are pushing it up, but technical issues and competition are weighing it down. Retail investors should not blindly chase; wait for the right moment to act.
The 10x opportunity has already appeared, and I have bottomed out! While you are still doubting its authenticity, I have already gone all in. Although the villa is not yet by the sea, I hope this time it can be fulfilled.
