March 31, 2024 Grandpa clocks in
March has passed in the blink of an eye. The overall monthly line of the pie is still positive, but the weekly line is consolidating at a high level. From a technical point of view, such a rapid increase is more in line with the form of accelerating the top, so this time the high level Consolidation cannot be treated as a relay rise, but should be reduced on rallies. Although I have warned of risks, from a historical weekly perspective, once the price rises, it is almost impossible to turn around immediately. Weekly sideways will last for several months or even months. If the market price rises at 7 If the price continues to fluctuate around this price, we can continue to reduce our positions as time goes on.
In fact, the most noteworthy thing so far is that with the activeness of bull market funds, different ecosystems have tried their best to attract funds. The two new ecosystems that attract the most attention today are merlin and blast. I have said before that when looking at the development of a project, the core is capital + talent. You must have at least one of them. The abundant funds in the bull market provide fertile ground for high-quality projects. I believe that with the accumulation of technology, more high-quality projects will come out. , and these are also the core drivers for the long-term development of Circle B.
Ethereum is a bit strong today on the market. In terms of exchange rate, 0.05 has become the consensus support. This round of Ethereum’s increase relative to the low is 3 times, which is not as good as the big pie. The most important reason is that the innovation of the DeFi ecosystem lags behind, while Ethereum The performance of Ethereum is not enough to support other high-frequency applications. Many high-frequency products such as games and derivatives trading have been transferred to L2 and other chains. A new disruptive sector is needed for Ethereum to outperform the big pie. A new growth point takes time. At present, there is really not much to look forward to, including other ecosystems with high TVL. In my opinion, there is little innovation.
However, in terms of cost performance, Ethereum is still the king of copycats. Since the increase this time is not as high as that of the big pie, it can be predicted that its security is not low. After all, it has not increased much and there are many people who are optimistic about it in the long term, so the buying demand will be very strong. . As for copycats and mainstream stocks, some have not yet risen, but most have already risen a lot. You must not make the mistake of using the high price of the last bull market as a reference, because the circulation quantity of each B is different. The pie can break new highs because of the purchase of ETFs, but the inflation rate is only a few percentage points. BNB can rise back, but it is actually deflationary, and the circulating quantity of many coins has increased several times. How can we talk about new highs?
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