September 2, 2024
There is nothing special about the market, it is still a very small retracement, so small that it can be basically ignored by spot traders. In such a sluggish market, any unfavorable news will be magnified. When investors lose money, they will use a magnifying glass to find problems with the project party, and those who do bad things will naturally not escape.
I saw someone broke the news that the front project team redistributed the chip structure by changing its name, so that the proportion of the coins in their hands would increase. If it is true, such a blatant act of cutting leeks can actually pass the review of the exchange, which really shows that the environment of this circle is very poor. In any case, we should be cautious about the copycat. No matter how bad Ethereum is, there is hope for it to come back in the future. After the main copycats have sold their goods, they will launch a new project, and the remaining people who are stuck will imagine the future.
Just like what Wu Fan, an investor of Black Myth: Wukong, said: A large number of game entrepreneurs go to Web3 to start businesses, but they are not worth investing in because they don’t love games at all. This sentence also reflects the chaos in the current B circle. Many people rush in not because of faith, especially now that various project parties just want to launch new projects to cut leeks, how can they do good things? Even their faith is not as good as us leeks.
This is also the reason why I always say that the key position is placed on Bitcoin and Ethereum. After all, it is easy to launch a copycat, but it is not so easy to do a valuable project. Instead of believing in new projects, it is better to buy projects that have been in operation for more than ten years. The short-term market is constantly falling, but in the short term, more people want to create a short-selling atmosphere. I don’t think there is any need to be pessimistic.
Thank you for your attention and likes.