The Rise and Fall of Ethereum in the Cryptocurrency World
In the crypto space, "coin" is a tool, and "trading" is the goal. It's like the pot used for cooking and the dish you want to eat.
In 2017, the ICO boom emerged, and everyone loved to issue coins using Ethereum, causing the price of ETH (Ether) to soar. It was like opening a hot pot restaurant with booming business.
By 2020, DeFi became popular, and Uniswap led the trend of on-chain trading. Various niche coins, NFTs (non-fungible tokens), and other novelties flooded onto the Ethereum chain, leading to skyrocketing transaction fees, earning it the nickname "noble chain."
At this time, new public chains like Solana began to rise, taking on Ethereum's traffic, much like opening a new store next door and grabbing a share of the lucrative trading market.
And what about Ethereum? Users are leaving, and the market is being snatched away. Although the technology is advanced, users care more about the trading experience rather than technical details. It's like going to a casino; what matters is the number of tables and the thrill of playing, not the technology of the casino.
Meanwhile, BTC (Bitcoin) retains its user loyalty due to its value storage characteristics. Traders, however, focus more on where the trading is exciting and fresh.
Now, Ethereum needs to find its positioning: should it continue to focus on value storage or return to the trading scene? Regardless of the path, it needs someone to pay for it. Otherwise, it will only leave the secondary market to the retail investors to take over.
In summary, the crypto world is ever-changing, and Ethereum needs to find its direction to remain competitive.
Currently, BTC's market cap share is nearing 60%, and the market generally expects it to potentially initiate a new round of trends, further squeezing the market share of altcoins (like ETH). Whether the ETH/BTC ratio will hit a new low, like the 0.02 it reached in 2019, remains uncertain.
However, investors need to carefully consider whether to switch to BTC. The key to making money lies in "buying low and selling high," and currently, cutting losses to switch positions is clearly not a wise move, as selling ETH now does not equate to "selling high."
BTC
Yesterday, it was indicated that there was a high probability of a downward fluctuation below the midline of 67400, with the price being rejected upon first touching 67400, currently retreating over 400 points. Two strategies for the day: if it breaks below 66700, sell and follow up, targeting the previous low of 65260 and below. If it stands above 67400, buy and follow up, targeting 68100-68700!
Look for buying opportunities around 64500 and 63000!
ETH
Positions around 2420 have seen a maximum profit of over 100 points! Ensure profit protection and manage your profit space! Currently, 2550 is the dividing line for bulls and bears, with 2530-2570 being the first target area for price rebounds from the lows. Pay attention to rejection opportunities upon first touch. If the price does not drop below the 2460-2440 area, there is still a demand for rebounds. If it breaks below 2440, wait for a second exploration of the 2420-2330 demand zone for buying opportunities!
SOL
Positions at 159-161 have nearly reached the target area of 174-177, with the price peaking at 173.26! Ensure profit protection! Take profits at your discretion! Pay attention to rejection opportunities when the price first reaches 174-177! The initial target is around 169!
The information and data involved in this content are sourced from publicly available materials, striving for accuracy and reliability, but no guarantee is made regarding the accuracy and completeness of the information. The content does not constitute any investment advice, and any investment based on it is at your own risk!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
