After the 4 o'clock Ethereum options delivery, a spiral rise. What is the market outlook for ETH? Can it still be held?
Amidst the sea of green, a touch of red, the biggest conspiracy in the crypto world is ETH.
Recently, the spotlight on ETH seems to have been largely stolen by Solana (SOL). With the exchange rate of Ethereum against Bitcoin falling, the FUD (Fear, Uncertainty, and Doubt) surrounding Ethereum is growing stronger, and developers are busy trying to extinguish this raging fire.
In the short term, it can definitely still be held; usually, the exchange rate between ETH and BTC is at a low point, and there are many bottom layouts, increasing the chances of a rebound.
But in the long term, Ethereum is simply not worth this price. The current dilemma it faces is losing the USDT transfer network, which may not be its own doing, but rather caused by foreign management issues. If it were managed by Chinese, gas fees could have been directly adjusted.
Then there is the homogenization of application public chains. Since there are meme launches on the same chain, why not choose the one with lower gas fees?
Ethereum still has its current price because it has accumulated so much capital through its layers and has been adopted by so many centralized exchanges globally, with many wallets holding and using it. Secondly, after the ETF, there are still many path-dependent followers.
This does not mean that in the next bull market, the price of Ethereum won't exceed 8,000 or even 10,000, but whether this bull market will be the final peak for Ethereum is hard to say. Those who are heavily invested in Ethereum during this bull market are undoubtedly the most disappointed group of people; profits and losses are interconnected, and those who became wealthy through Ethereum will certainly feel the pain today. The joy you endured back then will be matched by the pain you endure today. In the crypto market, we experience pain and joy together, let's encourage each other.
Overall, this time Ethereum has indeed reignited bearish sentiment in the market. However, we also see that there are many who are optimistic about Ethereum. If it were you, would you continue to hold Ethereum? Leave your thoughts in the comments section. If you don't know what to do next, you can come to me, and I will provide you with answers.
