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Has the crypto world already become this rotten?
When Trump visited China, the US stock market surged, but the crypto market stagnated.
Until recently, with the passage of the CLARITY Act, under such a huge positive boost, BTC barely reached 82,000, ETH hit 2,400, and CRCL even dropped instead of rising, the market was eerily strange (Did Wall Street do too much market manipulation?).
However, right after Trump finished his visit to China and left, the weather immediately turned gloomy, with rumors that the Americans will take action against Iran next week, and that the Federal Reserve will start raising interest rates, among a bunch of negative news.
The crypto market naturally followed the US stocks and gold, plunging together. Now BTC has fallen to 78,000, Ethereum dropped to 2,100—what a piece of trash 😭.
A few days ago, when the market was good, I even sensed that big opportunities on the chain were about to appear, and I was ready to sit tight and catch the golden dog. At that time, I once thought that Ethereum could easily rise to 3,000 in the next few months, and I still believe that now, just with much more difficulty.
Additionally, I have a good trait: I fully respect the market and all kinds of black swan uncertainties, and I don’t gamble with crazy leverage.
Like two days ago, when Ethereum was at 2,300, I discussed my optimistic outlook with @0xAuFlux, and he said, “Why not open a few ten thousand US dollars long position to test the judgment? If you make a profit, great; if you lose, it’s on me.”
I directly refused. Although opening such a position at that time could indeed make money (Ethereum at 2,400), if I didn’t time it right, I could face losses, which wouldn’t be good for me or my friends.
So I strongly advise everyone not to bring people around you into crypto trading or leverage contracts. This place is like a stinky dung pit—we’ve already fallen deep and can’t extricate ourselves, but there’s no need to drag others down. He won’t truly thank you for pulling gold out of the dung pit (he might secretly think he’s capable), but what would he think when he pulls out pile after pile of manure? 🤔