Here things get interesting. It turns out that Ethereum dropped almost 10% from its all-time high of $4.95K, a drop that was felt! And just when it was trying to recover, the Federal Reserve's (the Fed) move with interest rates knocked it down again. But, watch out, because the analysts at Coinbase, who are no ordinary analysts, are saying that this is the moment for a 'buy the dip'. And why?
1. The cards are in your favor (more or less): Analysts reviewed the options market, which is like seeing what the big players are betting on. In the short term, there's a bit of nervousness (you can tell people are hedging in case it continues to drop), but in the medium term, confidence is very high. What does that mean? Many see the drop as something temporary and the last quarter of the year looks very good for ETH. 🚀