The cryptocurrency world has been particularly lively lately, especially with Ethereum $ETH —it’s truly nerve-wracking!
Did you know that the price of Ethereum suddenly dropped below $3,200? This news made the headlines. Within 24 hours, the price fell by more than 13%, leaving many investors dumbfounded, wondering what on earth is going on?
Actually, this issue has to do with those 'whales'—the big shots holding a lot of Ethereum. They seem to be competing recently, desperately selling off their Ethereum.
There’s one big shot who deposited 22,746 Ethereum into Binance to pay off debts, which is equivalent to $77.7 million! Even more outrageous, another big shot transferred almost 50,000 Ethereum in just 8 hours and exchanged it for $137.8 million in stablecoins. What a move!
Once these big shots start selling, the price of Ethereum slides down like it’s on a slide. People in the market see this situation and panic. Even more astonishingly, the Ethereum Foundation has joined the fray; they are known for selling some Ethereum at high prices to fund development projects.
Just the other day, when it was at $4,000, they sold 100 Ethereum. Over the past year, they have sold a total of 4,466, making a huge profit.
Now everyone is pondering what will happen to Ethereum next. Some analysts say that $2,800 might be a critical point; if the price can stabilize there, it might regain some strength and prepare for a rebound. But if those whale big shots keep selling like this, the price will continue to fall.
If you are a friend holding Ethereum, you might be feeling quite anxious right now. However, we need to understand that the price fluctuations in cryptocurrency are normal, so don’t take it too much to heart.
Those who hold long-term often see this time as a good opportunity to buy more; while those who prefer short-term trading need to be very observant now.
In short, we need to stay calm and keep an eye on market dynamics. Remember, the cryptocurrency industry is like the weather; there are sunny days as well as storms. What seems scary today might just be a new beginning tomorrow!
In terms of future strategies, I will lead everyone to target the lucrative opportunities in altcoins, especially those with great potential; an expected growth of over 10 times is very likely. If you want to make big money in a bull market, like and comment, and I’ll guide you through the entire bull market!
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