The cryptocurrency market is an emotional and narrative-driven market, an irrational market, and everyone should know this. So what is the breaking point of emotions and narratives? It is the new story and new wealth effect.
In the next bull market, can ETH outperform BTC?
Let’s take a look at what ETH has now: DEFI, NFT, GAMEFI, L2, LSD, the occasional Meme get-rich-quick effect, the continued deflation of Ethereum itself, and the underlying returns of Staking.
If you put these conditions on any project, you will feel that you can get 10 times more if you buy it. So why don't you have confidence in ETH?
The cryptocurrency market is an emotional and narrative-driven market, an irrational market, and everyone should know this. So what is the breaking point of emotions and narratives? It is the new story and the new wealth effect. What is inseparable from these two points? It is innovation! ETH has the largest developer community, the most projects, and the most attention. If there is innovative development, the probability of ETH is the highest.
We can see that when the LSD concept was hyped before, ETH led a wave of the market. So the current ETH/BTC exchange rate is falling, it’s just that BTC’s good news came first. Isn’t it enough to hold the world order firmly and wait for the next wave of good news from ETH?
The bull market is not only about BTC and ETH, but also altcoins. What do altcoins rely on to pull up? Driven by ETH, because most of them are based on the ETH ecosystem.
So will ETH not rise in price?
I don’t know whether ETH will return to 0, and I don’t know whether ETH will be surpassed by new competitors in the future.
All I know is that in the next bull market, ETH will still be the leader among public chains, and will continue to lead the market for a while in the narrative of the bull market outbreak.