Going back to two years ago, would you still bet on Ethereum As is well known, I am an Ethereum hater (March 2024 present) Today, I would like to reiterate my viewpoint, which also includes the potential trading opportunities of Ethereum. ———————————————— The problem with Ethereum 1. The complete failure of layer 2 layout (most layer 2 has become a ghost chain and there are also a large number of layer 2 waiting for coin issuance) After pow is converted to pos, the players change from complex to highly dependent on external blood transfusions. BTC big players who want to participate can still buy mining machines to obtain long-term profits, and there is no concept of "taking over" 3. The most impressive and perhaps the largest NFT race in history in 22 years suffered a complete defeat ———————————————— The above questions are all established facts. But is there another perspective? Let's take a look at the turning point of Ethereum. As shown in Figure 1, the current ETH price is $1630 Before the large-scale deployment of Layer 2 in POS, the price of ETH was concentrated at $1300-1800 (without worrying about specific points) At present, the price has returned to this range, which means that all "bullish participants" in this round have suffered huge losses. Continuing to decline will only bring selling pressure from the losing side or the previous round of participants. Such turnover will not have a significant impact on the coin price. ———————————————— The core issue of Ethereum Actually, it's still about pricing. Everyone thinks the $3000 ETH is expensive, but if we go back to the price range of $1300-1800 two years ago, isn't it that expensive anymore. This means that the pricing has returned to three years ago. In other words, before the previous round of participants withdrew, Ethereum had nothing left to fall. And the withdrawal of participants in the previous round was comparable to a 312 level event. Since we are in this market, we should consider this event to have a low probability of happening, otherwise there is no need to play in the market. ———————————————— We may as well fully accept the complete failure of Ethereum in the past, and in the last round of turnover, it is once again the stage where capital decides whether to bet. Trying to ambush Ethereum with a "small position" on the left side here may become another opportunity. It is still recommended to trade on OKX XD The best DEX @ okxchinese OKX