Do we still get an alt season this cycle? Well, do not expect an answer from me; it is almost the end of July, and Ethereum was $1400 three months ago. I believe that was the lowest after hitting around $2300 in February. But, guess what?
Ethereum is currently pumping.
If you bet your money when it was 1400$ then you're almost in x3 gain, but guess what? You were an unbeliever, and you even had to become a BTC maxi because of all the uncertainty. Guess what again?
crypto can punish or reward conviction.
You can still easily hold your favorite coin or meme project and they can still go to zero, so it's all both sides. People have trusted meme coins in this cycle, especially when it was pumping from January till now, and they've been rugged, why?
Because the meme coin narrative was huge, people were easily making x1000 from just one memes and almost everyone wanted a share.
Mind you, eth and other alts were heavily dumping at the time, and the alt season conversation was at its craziest. Many analyst on Twitter and YouTube said alt season was dead, and meme coins and BTC were now the real deal.
These guys have gotten a lot of followers and monetization from spreading massive alt season FUD, and guess what? They had the data and proof to back up their claim, as alts were seriously dumping.
I remember this popular guy on Twitter who was always tweeting that crypto was scam and would die off soon. So he makes posts when the market is dumping and gloating, but when the market is pumping, he disappears and all that.
So that is mostly what social influencers do; they have used the market hype to create more FUD, giving themselves more relevance and other benefits; unfortunately for them, this era only lasted 3 to 4 months, so they probably enjoyed the popularity and attention, but the market is now changing.
Influencers are clearly the wrong people to listen to when the market is either pumping or dipping, but we still do not follow our own advice because we are emotional. Crypto is an emotional game, so we lose more than we win.
I certainly did not see the Ethereum pump; if I had, I would have probably borrowed a loan from the bank, made x3 after three months, returned the loan, and profited multiple times; however, even the smartest crypto geeks will never do so. Why?
It's simple; the Ethereum conviction died in APRIL. They said it was not going to be a catalyst to propel alt season, and Ethereum being dead means alt season is dead.
Now, I am not trying to debunk this by claiming it is false; rather, every FUD post I have seen since February has been debunked by current market prices. Ethereum is not dead afterall and sentiment has made FUDDERS think it is.
You have now missed out on potential profits because you listened to YouTubers.
Will Ethereum still drive the incoming alt season? It looks like it. Why?
This is because the price has begun to rise, as it always does before others follow suit. Is it certain? Obviously not; you would be foolish to believe it is certain. Nothing is certain until the coin you expect to pump actually pumps.
Charts and infographs are dead nonsense
A few months back, I saw a Hive creator who said Hive should do 20$ in this cycle. I laughed at them because it wasn't just unreal, it is actually dead impossible. Why? I just knew the best Hive could do was double its previous ATH, which is always the gold standard.
Fast forward a few days, and this same creator stated that Hive's maximum value is $1 or 1.5. What has changed? Obviously, they saw how the market had stagnated. They did not reach a conclusion because of the charts they were studying.
They made the first prediction based solely on emotion, and the second prediction was no different. They obviously have no idea what will happen, and that is the truth.
But why am I excited?
Well, ETH is pumping, which means we will also move, though I am not sure how much. I predict that Eth will do 8k, and why? I just believe this is the most logical price it will reach in this bull cycle; anything else is a bonus.
Conviction is difficult, as this cycle has demonstrated time and again. Where will Hive go? No one has got a clue, and and any predictions is pure speculation, but there is massive hope
Interested in some more of my posts
Why Is the grind getting harder?
Monopoly Is the Death of Civilization
Survival: Choas and Scarcity
Crypto: Gut & meaningful Connections
What is the primary barrier to entry in Web3?
What Are Some Things You Should not Do During A Bull Market Year?
