We take the trend of Ethereum as an example, as Ethereum represents the future of the vast majority of cryptocurrencies.
After all, in the entire blockchain industry, Bitcoin is the underlying technology, and Ethereum has created a "system" using Bitcoin technology. More than 80% of the applications in the entire blockchain are built on the Ethereum network.
This is also why people say that if Ethereum does not rise, altcoins will not rise either. This statement is true but not entirely correct.
What are altcoins? The term "altcoin" means imitation, without value, or a token with no real backing.
Even if Ethereum takes off, altcoins may not necessarily rise; however, tokens from companies with real applications and potential, and those companies that have been making technological breakthroughs in blockchain, belong to the sub-mainstream cryptocurrencies. When Ethereum takes off, it will definitely explode.
During the correction process over the past six months, the main players have been instilling the idea in retail investors that "rebounds will fall, rebounds should be shorted, and rebounds should lead to exiting the market."
Especially after the significant drop on August 5, the market experienced extreme panic, with everyone worried that the market would continue to plummet, fearing Bitcoin would drop below 40,000 and Ethereum below 2,000.
After each rebound following August 5, retail investors felt happy, believing that the market had stabilized.
However, after each rebound, it fell back to the starting point.
Thus, there have been repeated rises and falls, leading to oscillations over the past three months, which have once again hurt the hearts of retail investors.
btc0955
