According to information provided by Scopescan, this year, Brother Sun bought 18,611 ETH on Binance and 1inch, worth nearly 600 million dollars. After selling 10,000 coins, the holding cost is 3,100 dollars, and according to the current price, the loss is about 90 million dollars. Of course, Brother Sun mainly holds these ETH for staking and participating in new projects, gaining a lot of airdrop benefits. Although Brother Sun hasn't cut losses and likely won't, who is Brother Sun? He's a savvy player in the crypto world; the projects that can make him suffer losses are few and far between.
Although Brother Sun lacks ethics in projects, his investments are still worth learning from. Early ETH players, including TRON, were initially imitating Ethereum, and there must have been research and technical teams supporting his investment decisions. Betting heavily on ETH indicates thorough research, including previous precise short-term bottom fishing. I once felt there were experts guiding him. Regarding Ethereum, if your holding cost is a bit high, I don't think you need to worry at all. If you keep buying as it drops, you are essentially bottom-fishing like Brother Sun, without fear.
In terms of the market, Bitcoin has reached a maximum of 73,000, just under 200 dollars away from a historical high. Although there hasn't been a significant breakthrough, the trend is exceptionally strong. In the short term, there may need to be adjustments at this resistance level, or it may go through a false breakout followed by a sharp decline to clean out some longs. Considering the upcoming elections, it's not impossible to directly go above 70,000. Currently, Ethereum and altcoins seem to be catching up; once Bitcoin breaks the resistance and hits a new high, altcoin trends will rise.
At this position, according to the plan, it is possible to consider reducing some holdings, but only for those who hold a large amount of Bitcoin; otherwise, just wait for a wave of catch-up. As previously stated, I currently hold 60% of my positions, and I will consider whether to reduce some based on this round's situation. So far, I haven't really missed out, and my mindset is quite good. Recently, the fees for hot contract tokens like GOAT and MOODEGN are very high, so I am using idle USDT to participate in arbitrage.
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