Does ETH, the ancient second, still have the opportunity to explode?
Recently, Bitcoin has been reaching new highs, but the performance of ETH has truly disappointed many, with a lot of people feeling that ETH has completely declined this round, with new emerging public chains like Sol, Sui, BNB, etc., taking away its funds and traffic. The main reason is that the recent explosion of new public chains is mainly characterized by high performance, low gas fees, high TPS, and super convenience. This has also attracted a portion of meme-loving users to these platforms, with Sol being the most typical example. So, does ETH still have a chance to explode this round? Is it true that ETH is just not that good anymore, unable to even maintain its position as the ancient second?
Looking at the current trend of Ethereum, it appears very weak and powerless. This year, it has dropped from a high of over $4000 to a low of over $2000, with a decline of nearly 50%. Especially during the disaster on August 5th, the entire liquidation amount exceeded that of BTC on that day. After oscillating at the bottom for three months, it was only when Trump took office that it was pulled back to over $3000, and then it began another round of fluctuation. According to many people's expected price levels, it should at least be around $4500 at this time, comparable to BNB and SOL, hovering around the previous high while waiting for an effective breakthrough and surge. Regarding the current trend of ETH, my view is that you don't need to look at the previous aspects; at this time, you can refer to the significant level that started breaking out on October 17th last year. You will understand that the absence of a significant surge at this moment suggests that the entire market is still in the early stages. Because whenever ETH starts to surge wildly, it is mostly towards the end of the market.
Where do you think this round of bull market can take ETH?
Summary: Just be patient and wait for ETH, after all, the recent market is draining from the big pie, and gold will eventually run out. Finally, if you haven't followed the cousin's point, make sure to follow it, so you don't get lost.
