In the past half month discussing hype, the most common phrases I've heard are:
It's too expensive.
It's overrated.
I'm afraid to chase it.
Yet, hype keeps rising, and I don't understand what you're afraid of.
You dare to buy ETH worth hundreds of billions, but you won't chase hype until it rises to hundreds of billions, right?
As long as you're always hesitant to take a risk, when the next opportunity worth hundreds of billions arises, you'll still be a spectator. All selling off happens because the price exceeds the psychological price level; for retail investors, due to information asymmetry, the psychological price level often comes from imagined valuations. For major players, the psychological price level has never been related to valuation; it depends on the exit strategy. The only connection is that certain entities use retail investors' valuation psychology to offload their stock.
However, exiting involves not just the traditional sense of ramping up and selling off, but also spot control and contract explosion-style operations, such as TRB, which includes bad asset securitization, for instance, the blue box distributing goods through MERL, along with various means of using governance/consultancy to hollow out national treasury assets. Ultimately, how to offload is a fundamental issue; the more concentrated the chips, the stronger the pricing power.
