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Under a huge windfall, even pigs can fly.
But once the wind stops, many people are still reluctant to leave and will fall.
ETH gives me a feeling similar to Alibaba, although it has great potential, the trend has passed, and many people are still obsessed, dreaming of the next peak.
Alibaba's stock peaked in the second half of 2020, and then the trend gradually fell back to the starting point, with shareholders and founders busy cashing out.
The ETH Foundation has been busy selling coins in recent years, selling a little every few days.
Those involved in finance must study cycles more, study trends more; if the trend is gone, don’t fight it.
Just like before this big correction, I felt that the subsequent big shakeout would definitely be very violent, so I posted reminders on Twitter every few days, paying more attention to the risks ahead.
Because the entire internet is too FOMO-driven, everyone is shouting about $1000, $10,000, and many outsiders are starting to make money too.
So who is losing money? No one is losing money anymore; beginners and new investors are starting to make money, which is not a good sign.
Of course, I am only analyzing from the perspective of value and trend direction.
If there are major innovations in the ecosystem or if ETFs are approved later, there will definitely be a big rebound or a sharp rise.
But in the long run, the ETH/BTC exchange rate has been continuously falling, because nothing can oppose the trend.