April 20, 2024 Grandpa checks in
The overall market rebounded, especially the cottage and mainstream sectors. Strong currencies have increased by more than 20% compared to the sideways price, which is worth my asking everyone to buy the bottom these days. Judging from the trend, this wave of big cakes has the strongest support, which is the biggest source of confidence for us to dare to buy the bottom, and Ethereum has also received support at 3,000 points. In fact, for the bull market, Ethereum at this price is already very cost-effective in my opinion. As for if you want to wait for a more cost-effective moment, you can only hold on for a while, as this wave is more difficult.
In the long run, the price of Bitcoin has not fallen much in this wave, and the trend will be stronger in the future. Although the inflow of funds from ETFs is weak, the selling pressure of Grayscale has been reduced by about half. In theory, more funds will be slowly injected in the future. After the Bitcoin halving, the selling pressure will be reduced by 450 coins a day, and the market selling pressure will be reduced by about 30 million a day. In the long run, Bitcoin's scramble will become a game for financial predators, and the price of Bitcoin is an absolute vane of the market. As long as Bitcoin does not fall, there is no fear of a bear market.
After the popular Merlin was launched, the price performance was mediocre. The real test is when assets can be freely transferred. How much TVL is left is the time to see the real strength of the public chain. Since the beginning of this year, there have been many L2 stories and bubbles. My suggestion is that everyone should not be too big. At present, I think there are not many public chains that have truly withstood the test of the market. The earliest ARB and OP are relatively strong, and Base has performed well recently. As for other high-market-cap and low-TVL ones, we should be more vigilant against capital traps.
After this round of decline, many people may have realized the true strength of Dabing again. The army may change but the iron camp may remain. The mainstream of Shanzhai has changed, but Dabing has been rising, falling and reaching new highs steadily. However, with the recent decline, you can appropriately allocate more Shanzhai, and consider switching back when Dabing hits a high again. As for the market, if there is a short-term rebound, it is expected to fluctuate, but the risk has been temporarily lifted. You don’t need to rush to sell the bargaining chips, and you can do a small amount of trading.
Thank you for your attention and likes.