Today is October 28, 2024, Monday. Although Ethereum's performance has been quite disappointing for nearly the past six months, many investors who were optimistic about Ethereum are gradually losing confidence. Looking at the annual chart, Ethereum's opening price in 2024 was $2281, and it is currently at $2500, with barely any significant increase.
However, we can also see that since 2021, the project team has continuously improved Ethereum's fundamentals, from the London upgrade to the Ethereum 2.0 merger, and then to the Shanghai upgrade, followed by the Cancun upgrade. Especially during the bear market from 2022 to 2024, although there haven't been any halving benefits like Bitcoin, Ethereum, as the operating system similar to the internet in the blockchain world, has undeniable value and significance. Short-term disappointments do not represent long-term value, and the undervalued market cap will eventually see a strong rebound!
Especially now that institutions like BlackRock have already entered the market, Ethereum is still the most certain value asset aside from Bitcoin.
This week is a macro week. Key news to focus on includes Friday's non-farm payroll data and unemployment rate data, the last important economic data before the elections. Federal Reserve officials have almost no speaking arrangements this week. As the elections approach, the market's attention on this election is lower than expected, but the election still carries strong uncertainty.
Regarding spot positions, Ethereum remains one of the most certain assets. The trending market is only a month or two away, but the waiting process is indeed torturous and lengthy. I believe the value assets will eventually return to their rightful price; patience in holding is key! In the short term, we can focus on $2560. Only a volume breakthrough at this level will allow Ethereum to potentially open up upward space.
This morning, the A-shares opened slightly lower. CFX continues its regular investment; I believe there will definitely be a wave of wealth creation in the A-shares before the year ends. After the Spring Festival, 2025 will be the main event, and we are just getting started. Under the background of maintaining loose macro conditions, the rise in the market is just a matter of time. Therefore, only by continuing regular investment and patiently waiting can we achieve ideal returns in the future.
Opportunities in the market have always existed. OM has risen over a hundred times from the bottom. Buy when no one cares and sell when the crowd is bustling. The current low trading volume is largely due to Bitcoin's continuous high-level fluctuations for seven months. The time for a trend change is approaching. As long as Bitcoin breaks through new highs, it will then surpass $80,000, $90,000, and $100,000, reigniting market sentiment. None of this has happened yet, but I personally believe it will eventually come; it's just a matter of time. Before the bull market arrives, every opportunity exists. If everything has already happened, then the profit space left for us will be minimal.
I'll keep it simple for today; see you in the next issue!
