💥 YOUR DECISION TO SELL $ETH WAS CORRECT! 😅😂
On July 31, CafeBit shared a rather strange strategy from a friend in the group (article below).
👉This person said he sold all ETH to buy small-cap altcoins and BTC, because he believes that ETH is not as safe as Bitcoin and has a lower profit rate than altcoins.
Up to now, statistics over the past 3 weeks show that the price of $ETH has decreased by more than 40%, while the TOTAL3 index (capitalization of coins other than BTC and ETH) has only decreased by about 25%. Meaning, ETH dropped more than the average of all remaining altcoins on the market.
😅In short, despite facing a lot of opposition for selling $ETH right when the Ethereum ETF was just approved, the results have proven your choice to be correct!
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Regarding the price of ETH, it has now reached the 2,000 USD area. This is a hard support area, equivalent to EMA 200 frame 1W.
I think ETH price will rebound to about 2,600 USD, then continue sideways for a few more weeks.
🤔There is a strange point that although ETH dropped sharply, the gas fee on Ethereum increased sharply, reaching more than 600 Gwei yesterday, August 4, and currently maintaining at 80 - 100 Gwei. This shows positive activity on the network, in contrast to the situation when ETH dropped the previous times???
Maybe this is a sign of panic selling on the Etherum system, or because lending and borrowing contracts are being liquidated and closed en masse?
👉👉If you have any explanation about this gas fee, please comment below for everyone to refer to!
