I have already exchanged all my ETH for BTC, and even the leftover GAS from my yield farming, I hedged at the price of 3200 at the beginning of the year.
Of course, I was very happy in between, and as ETH kept falling, I felt like I was so smart. I couldn't help but write "Why Are There Still People Holding ETH" when the ETH/BTC exchange rate was 0.019. 0.019 was almost the lowest point, and I felt embarrassed.
To prevent FOMO from causing me to make mistakes, I chased some ETH at 4000. Can I win this time?
#Crypto
When BTC is about 100,000 again, let's review the ETH/BTC exchange rate of 0.019. Last time I had an offline gathering, I chatted with some friends, why do I still have ETH in my hands?
Summarizes a few common points:
*Basically, they all entered Crypto in the last cycle
*Still fantasizing about the copycat bull market
*Not very good at stop-loss
*I didn't participate much in the SOL ecosystem this cycle
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Let's talk about it one by one:
1. When entering Crypto in the last cycle, it will be considered that ETH and BTC are the same type of currency, and other coins are Altcoin.
As a result, when buying in a bear market and buying in a bull market, they all expect ETH to rise more than BTC, expecting BTC to rise by 100,000 U and ETH 10,000 U.
2. It is also because the liquidity was too sufficient in the last cycle, and all coins generally rose, so they are still fantasizing about copycats.
But in this cycle, BTC ETFs have allowed a lot of Crypto liquidity to go to US stocks, and there has been no interest rate cut, which is completely different from the market situation in the previous cycle.
3. Because there will be no stop loss, we can only watch as the ETH/BTC exchange rate falls from 0.08 to 0.019 today.
4. In fact, there has been a copycat cow for a long time, that is, SOL's MEME. MEME has risen generally, animals/politics/AI infrastructure, etc., and various categories have risen a lot, and I am still thinking about the rise of old coins without narrative and income, which is a disease.
Last cycle, all the narratives revolved around ETH, Defi Summer/NFT. But the narrative of this cycle happens on SOL, and without participation, there is naturally no way to sell ETH for SOL.
Some friends judged that the bull market had not yet reached its peak based on the old escape indicators in the past, and they did not sell any ETH positions.
The cycle of ETH has not kept up with the changes of the times, and if your thinking is solidified, it will be the same as ETH.
At this time, it is time to sacrifice the classic picture of the night owl teacher: "ETH is worthless in the long run. (does not represent my opinion 🐶🐶)
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