Cryptocurrency Market Overview
📍 Right now, there's a psychologically challenging situation as ETH is rising. It's a clear situation. Those who have been in the market for a long time don't trust obvious setups because they're used to the crowd being wrong most of the time. In these moments, many experienced investors start playing the "I'll get in later at a better price, right now everyone will be deceived and the market will reverse" game. The same feeling was present from the end of December to early April.
We need to accept the fact that sometimes the market is quite dumb, and the crowd will be punished later. The crowd doesn't have to be punished with every movement =) FOMO hasn't kicked in yet. Many who aren't closely following the market haven't understood anything about the ETH ETF, and will show interest when ETH hits $4500 (if such figures are reached).
For those trading the S&P, it's very easy to understand what I'm talking about. In the S&P, there can be four consecutive months of growth, and it constantly seems like the high Fed rate, declining housing prices, and record-breaking inflation should cause a reversal.
❗️ Today is a holiday in the US, and CME is not operating. Consequently, the market has created a very large gap on CME. This is an important factor.
✔️ News
Phantom is becoming the #1 financial app in the US.
✔️ LINK will hold a major conference on May 30. Last year, this led to growth of dozens of percent.
✔️ Base Scenario
ETH will hit $4000 this week. Some might say that's just 2-3 percent away, but it's a very high probability. ETH is more likely to break $4000 tomorrow, but it's much less likely around 3 AM.
