Brothers who are holding ETH, I guess you are also very anxious. Those who want to buy ETH at the bottom, give up this idea.
Let’s review the pessimistic logic of ETH:
First of all, in this bull market, Ethereum’s performance is the worst among the four major currencies BTC, ETH, SOL, and BNB. Trading is to make money. Let’s look at the data directly:
BTC rose 174% and retreated 17.5% from the highest point
ETH rose 145% and retreated 42.5% from the highest point
SOL increase 985% retreat 34.8% from the highest point
BNB rose 236% and retreated 25% from the highest point
Bitcoin has the most stable rise and the least retracement, a truly valuable currency
Solana is a new star mainstream, rising from 20 to 200, winning people over with its rise, and the local dogs on the chain are also playing in full swing
BNB Binance Coin, BSC Smart Chain continues to work hard, endorsed by the largest exchange, various mining capabilities, and regular destruction. BNB is the token that can most intuitively feel its value
ETH, the data speaks for itself, has the least increase and the most retracement. If you are a diamond trader, you may still make a profit. There are not many diamond traders in the market. If you trade ETH in this bull market, there is a 90% probability that you will lose money.
The most important thing is, without talking about feelings or emotions, let’s look at the data:
Grayscale's Ethereum Trust Fund ETHE has currently sold/transferred $2.94 billion worth of Ethereum and still holds $3.92 billion worth of Ethereum. This holding is like a sword of Damocles for ETH.
As for why Grayscale must sell ETHE, Daoge has many posts with detailed analysis, you can read them, I won’t go into details here
ETHE is still being sold
Then there is the continuous selling of the Ethereum Foundation. This year, the Ethereum Foundation has sold 3,766 ETH. They sell every now and then, and the frequency is increasing recently. Although not much, this continuous selling behavior has a very bad impact on market sentiment.
Summary: This content was published when Dao Ge escaped from the top at 64,000, and this will also be Dao Ge’s last ETH position.
I will not trade ETH anymore. I will go to other altcoins for shorting. For spot/long trading, I will add the funds originally bet on ETH to BTC and BNB. High-quality altcoins and popular Meme sectors are all worth more than Ethereum.
