He entered the circle in 2021, when $BTC had just hit a new high, and $ETH was also around 4000. At that time, he told me: "In this bull market, I want financial freedom." What happened? Now that ETH has dropped below 2000, his account has already been wiped out twice.
Have you noticed a cruel reality? Every time there is a major drop, those who usually shout "buy the dip" in the WeChat Moments all disappear. Where are the real buy orders? In the hands of those giant whales you will never see.
We retail investors are really laughable. When BTC was at 73000, everyone was shouting "100,000 USD is just the starting point." Now that it has dropped to 66000, the same group of people starts to panic: "Are we going back to a bear market?"
But do you know? Real opportunities never appear when everyone is optimistic. In 2022, when FTX collapsed and BTC dropped to 15000, how many people dared to buy? Looking back now, that was a golden pit.
The fact that ETH has dropped below 2000 actually exposes a deeper problem: the narrative of Ethereum is no longer attractive. The DeFi Summer is over, the NFT bubble has burst, and Layer 2 has diverted transaction fee income. Besides those still dreaming, who else will pay for the story of ETH as the "world computer"?
Right now, the timing is very delicate. The Federal Reserve hasn't lowered interest rates yet, and the macro environment is still tense, but the crypto market has already reacted to all the bad news in advance. At this time, it could either be a golden opportunity to buy the dip, or a prelude to a larger crash.
What is my judgment? The current market sentiment is already quite fearful, and the cost of short squeezing is far lower than that of shorting. Real smart money should be greedy when others are fearful.
But remember one thing: always gamble only with money you can afford to lose. Because in this market, everyone who thinks they are very smart will eventually be educated by the market on what humility means.
