Ethereum: Trader Weighs In on Crypto Cycle's Major Disappointment

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Some thoughts on the current crypto cycle #1 The crypto cycle has been almost entirely driven by the bitcoin ETF.#2 ETH has been a major disappointment, but it has performed well overall for stakers and airdrop farmers.#3 Solana established itself as the chain of choice for… — Alex Krüger (@krugermacro) May 1, 2024 Similarly, he also has noticed the desire "to focus on making a quick buck” and investing in "short-term hype rather than on longevity.” The trader highlighted that the Bitcoin exchange-traded funds (ETFs) have "almost entirely” driven this cycle.

Moreover, Krüger asserted that most market participants who missed the Bitcoin ETF run "went all in on altcoins to compensate.” As a result: They deployed late and poorly, going in larger at higher levels, and are now seething and at a loss, as too many altcoins have given up their entire 2024 gains in the last month.

Furthermore, Solana overtook Ethereum after "establishing itself as the chain of choice for retail traders.” It’s worth noting that the turmoil surrounding Ether and the Ethereum Network has seemingly affected the token’s recent performance.

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Article Details

Author / Journalist: Rubmar Garcia

Category: Crypto

Markets: United Kingdom

Topics: ETH Bull cycle Bitcoin ETHUSDT Solana network Cryptocurrency Market News Crypto analyst Bull run Crypto trader Btc Crypto cycle Ethereum Crypto market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-02 @ 22:00:41 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 600 words

Reading Time: 4 minutes read

Sentences: 49 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 20858855

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