The recent confusion over Ethereum Foundation cuts, and
a lot of people in the last two days have been putting immense focus on the Ethereum Foundation’s decision to cut staff, and whether that could cause a crash in ETH’s price.
The reality is that Ethereum has been under intense pressure for quite some time now and job cuts in the EF simply served to reinforce an already bearish narrative. Plus the EF has been heavily criticized for a while now about their inadequacy and making terrible decisions, especially with the on and off selling of $ETH too from them which has stirred up numerous buzz a good number of times.
While capital has also been rotating towards Bitcoin and faster growing narratives for months now. #ETH has spent a long time struggling to reclaim key levels of resistance for years now.
So what we witnessed this week was the result of a trend that was already in motion, the Foundation cuts simply served to kick the can down the road a little bit further.
Counterintuitively, some of the greatest buying opportunities in crypto have always appeared when sentiment turned extremely negative, and people start questioning the network’s future as we have started seeing and for those who remember how it was for Solana during the 2022 bear market. So these are special times for $ETH , but also difficult to participate in when confidence has evaporated.
All that said, can we expect more of these from #ETH?
Possibly. But the more important question is whether we’re witnessing the beginning of a longer-term decline, or simply another rebuilding period before the next bull cycle gets underway? And I believe in the latter, yeah there will be more short-term pain in the next few months but i will keep stacking up every dip that comes, we're getting closer to a generational run🤷🏼♂️.
$ETH $BTC
a lot of people in the last two days have been putting immense focus on the Ethereum Foundation’s decision to cut staff, and whether that could cause a crash in ETH’s price.
The reality is that Ethereum has been under intense pressure for quite some time now and job cuts in the EF simply served to reinforce an already bearish narrative. Plus the EF has been heavily criticized for a while now about their inadequacy and making terrible decisions, especially with the on and off selling of $ETH too from them which has stirred up numerous buzz a good number of times.
While capital has also been rotating towards Bitcoin and faster growing narratives for months now. #ETH has spent a long time struggling to reclaim key levels of resistance for years now.
So what we witnessed this week was the result of a trend that was already in motion, the Foundation cuts simply served to kick the can down the road a little bit further.
Counterintuitively, some of the greatest buying opportunities in crypto have always appeared when sentiment turned extremely negative, and people start questioning the network’s future as we have started seeing and for those who remember how it was for Solana during the 2022 bear market. So these are special times for $ETH , but also difficult to participate in when confidence has evaporated.
All that said, can we expect more of these from #ETH?
Possibly. But the more important question is whether we’re witnessing the beginning of a longer-term decline, or simply another rebuilding period before the next bull cycle gets underway? And I believe in the latter, yeah there will be more short-term pain in the next few months but i will keep stacking up every dip that comes, we're getting closer to a generational run🤷🏼♂️.
$ETH $BTC