April 28, 2024 Grandpa checks in
Spot ETFs are about to be listed in Hong Kong, and some details are being advanced in an orderly manner. It has always been said that the most noteworthy thing this time is the Ethereum spot ETF product. Perhaps this is also the reason why the recent trend of ETFs is stronger than Bitcoin. The exchange rate of Ethereum to Bitcoin has risen back above 0.05. In addition, there is a potential big positive for Ethereum, which is the SEC's re-examination of ETFs in May and June. Even if there is no substantial progress in the next two months, it is only a matter of time before it is passed. Once it is passed, the situation of Bitcoin spot ETF passing may occur.
In addition, recently everyone is saying that Sun bought Ethereum worth hundreds of millions of dollars. Maybe it was for some special reason, or maybe it was a simple investment. In any case, this action of buying Ethereum is worth following. First, Sun's macro investment decisions are basically profitable. He has escaped the top and bottom several times. It is obvious that there is a scientific investment decision-making team behind him. Second, this time he bought Ethereum. The current bull market has not yet come. Even if you buy now and get stuck in the short term, you don't have to worry about holding the spot. In the bear market, I set the bull market target price for Ethereum at 10,000 U and the big cake at 100,000 U. At present, there is still great hope.
Of course, from the perspective of the overall market, if you want to wait for another wave to copy Sun Ge's bottom, it is not impossible. After all, the current overall market is only slightly stronger than Ethereum. Bitcoin is sideways while the altcoins are hovering at low levels, and there is no sign of a counterattack for the time being. Objectively speaking, the current price is not particularly low, and Bitcoin is still above 6. It is possible that this wave of bulls has not yet ended. Therefore, bottom-fishing now is also a way to take into account the continued oscillating rise of the slow bull market.
I have seen many other altcoins, and now they are at a relatively high point and have come back to the halving range. I have chosen to leave some of my positions that have not been fully profited. After all, the profit was taken before, and the coins left now can be kept as a bottom position. The real bull market has not come yet. Next, I will continue to add some positions back according to different price gradients. I first added 20% and sold some in this wave of sharp decline, and will increase them later depending on the situation.
Thank you for your attention and likes.
