ETH macro trend looks to be a repeat of last pump and dump

30 Ağu 2022

While looking at ETH on trading view with the time length on all it shows an eerie resemblance between our current price and the one shown in the chart. The two points that I am talking about are the highlighted circled areas. In my opinion it seems as if we are on the edge of a giant cliff and according to trends and overall macro economic weakness due to inflation it seems highly likely that ETH may fall off the edge of the cliff. This is my personal stance at the moment although for the past few years I had my head in the sand and blind fully thought that ETH would continue further up to 7 k when it hit its all time high at $4,900 in November of 2021. I did not sell. I couldn't sell. I had almost half of my ETH holdings staked and locked away. I initially got into ETH at $1700. I rode the wave to $4900 all the time buying more. I then saw the wave crash to $800. It has since recovered to $2000 to come back down to current prices of about $1530 at this time of writing on Tuesday august 30th at 1 pm. There is another test on the 6th of September before the long awaited merge to ETH 2.0. While the merge may be one of the biggest engineering accomplishment's of all time I do expect the price to fall upon merging. My reasoning for this is because the merge is only one of many merges and the overall ETH ecosystem is still in it's infant years so to speak. This merge to eth 2.0 will not immediately reduce transaction fees known as gas fees. Eth will still be slow and expensive. But nevertheless, the merge, if done successfully will pave the way for ETH to grow into it's pants and become a several trillion dollar business that will reward share holders with a generous 4-6 % yield on their investment. It will only take time. Be patient and good luck in your investing/trading!