Eth (ethereum) - Bear market or Healthy retracement? - and what do some of the top digital asset CEOs think?
Everyone is asking the question: is Eth dead, have we entered a Bear market or was this simply a rebalancing and necessary pullback, ahead of another surge?
Should I have sold? Should I have HODLed? Were Diamond hands foolish this time or is the age old DCA approach to buying shares and crypto and holding for the long term still the best approach?
On the one hand it's a blame game: Elon, China, the BIG institutions, the whales, the market manipulators. On the other hand, some claim that the likes of Binance SmartChain, Cardano, Polkadot and Solano are competing strongly for their place alongside Ethereum and that the Ethereum project itself is in danger of being usurped by better blockchain technologies entering the market, pointing to faster and cheaper transactions with better decentralisation, amongst other markers.
Analysts canvassed by Forbes have pointed to it simply being a "healthy retracement", reminding investors that the digital currency skyrocketed this year from under $800 to close on $4400 and that's it's fall back had occurred amongst a "broader sell-off in digital currencies". They cite the CEO's of both Civic and Zilliqua Capital as supporting this view.
In addition the price volatility of crypto markets make them unpredictable, and as Amber Ghaddar of ALLiANCEBLOCK states " The traditional definition of bull and bear markets is inconsistent with the price action of crypto as 20% dips are frequent and are often part of a correction followed by a broader build-up...(when it comes to defining bear and bull markets in crypto) there is no rule of thumb as this asset class is too young and historical data is too little".
The future of Eth seems unpredictable at best and as I don't have a crystal ball to show me the future, I can only do the research myself, inform myself as best as possible and make my own decisions on whether to jump ship or HODL, and I suggest you do the same. We are all responsible for our own investments and this is not financial advice. I personally have not sold but have not lost much either, so I am not worried, but I believe that I am only in this position as I have been using a consistent DCA approach and buying a little extra in the dips. I accept the innate volatility of digital assets (hence their ability to yield high returns and deliver searing losses) and therefore only include them as a small part of my investment portfolio. Personally I am holding thumbs for the next move upwards as Eth progresses to Eth2 and the blockchain addresses the challenges that have been holding it back, but I am also taking cognisance of other interesting players in the market and throwing some of my attention and FIAT in their direction too.
Link to original article below:
https://www.forbes.com/sites/cbovaird/2021/05/19/did-ether-enter-a-bear-market-after-losing-more-than-50-of-its-value/?sh=fd9506c39530
Eth (ethereum) - Bear market or Healthy retracement? - and what do some of the top digital asset CEOs think?
Everyone is asking the question: is Eth dead, have we entered a Bear market or was this simply a rebalancing and necessary pullback, ahead of another surge?
Should I have sold? Should I have HODLed? Were Diamond hands foolish this time or is the age old DCA approach to buying shares and crypto and holding for the long term still the best approach?
On the one hand it's a blame game: Elon, China, the BIG institutions, the whales, the market manipulators. On the other hand, some claim that the likes of Binance SmartChain, Cardano, Polkadot and Solano are competing strongly for their place alongside Ethereum and that the Ethereum project itself is in danger of being usurped by better blockchain technologies entering the market, pointing to faster and cheaper transactions with better decentralisation, amongst other markers.
Analysts canvassed by Forbes have pointed to it simply being a "healthy retracement", reminding investors that the digital currency skyrocketed this year from under $800 to close on $4400 and that's it's fall back had occurred amongst a "broader sell-off in digital currencies". They cite the CEO's of both Civic and Zilliqua Capital as supporting this view.
In addition the price volatility of crypto markets make them unpredictable, and as Amber Ghaddar of ALLiANCEBLOCK states " The traditional definition of bull and bear markets is inconsistent with the price action of crypto as 20% dips are frequent and are often part of a correction followed by a broader build-up...(when it comes to defining bear and bull markets in crypto) there is no rule of thumb as this asset class is too young and historical data is too little".
The future of Eth seems unpredictable at best and as I don't have a crystal ball to show me the future, I can only do the research myself, inform myself as best as possible and make my own decisions on whether to jump ship or HODL, and I suggest you do the same. We are all responsible for our own investments and this is not financial advice. I personally have not sold but have not lost much either, so I am not worried, but I believe that I am only in this position as I have been using a consistent DCA approach and buying a little extra in the dips. I accept the innate volatility of digital assets (hence their ability to yield high returns and deliver searing losses) and therefore only include them as a small part of my investment portfolio. Personally I am holding thumbs for the next move upwards as Eth progresses to Eth2 and the blockchain addresses the challenges that have been holding it back, but I am also taking cognisance of other interesting players in the market and throwing some of my attention and FIAT in their direction too.
Link to original article below:
https://www.forbes.com/sites/cbovaird/2021/05/19/did-ether-enter-a-bear-market-after-losing-more-than-50-of-its-value/?sh=fd9506c39530