8 months ago I thought that Bitcoin dominance would come down. It did not.
The inflation we had seen since the pandemic enshrined the new macro regime in which only Bitcoin could flourish. ETH & 90% of altcoins got crushed.
As inflation (consumer & producer prices) surprises to the downside it's only a matter of time until we get a risk on market with lower rates, more liquidity and capital flowing into riskier assets such as ETH and altcoins. We're getting there: another couple of months probably. Don't let your conviction be shaken right at the bottom.
I would have thought that never to be the case but at current prices it feels less risky to hold ETH than Vanguard Total World
One asset has discounted the worst already and is below it's 200 week MA while the other has not
BTC is not a technology asset, it's a religious cult asset
I don't buy religion, I buy tech since it's the only thing that can outperform the market long term
ETH is tech
Wishing ETH would be higher is not something that will make you happy
A better strategy is to appreciate what we have: cheap ETH to accumulate
Today you can basically flip any asset (gold, stocks, BTC) into ETH and you're making a killing on the ratio
I still hold my ETH but emotionally the past couple of weeks have been extremely difficult.
Holding an asset in size that over the past years underperformed anything from boomer assets like gold to $SPX is extremely hard
I hope we all will be rewarded
ETH making new lows on the BTC pair.
Wow. I hadn't expect it.
Truth is I was so wrong on ETH and where it's price would go.
This has been devastating lately.