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Event ends: August 9, 16:00 UTC
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I was bearish early in this round, which has led to losing money for the past half month. I've started to reflect on where I went wrong.
1. Ethereum Exchange--A large number of publicly listed American companies are buying in real money, with external liquidity, and their funds are unlimited, driving up stock prices to buy ETH - ETH rises - stock prices rise - continue buying ETH... This is a turning point.
2. Trump issued the "Great Beauty Act" to start the money printing mode, and many Americans have begun to doubt U.S. debt and inflation, turning to buy BTC, while those who find BTC too expensive are buying ETH.
3. Altcoin indicators are linked to ETH, and market makers will use automated hedging strategies. For example, when going long on a certain altcoin, they will hedge the exposure to ETH. If ETH experiences excessive volatility, they will adjust the orders or positions of other coins to create a correlation. Previously, it was all about buying altcoins with ETH and then exchanging them back for ETH after selling.
The market does not shift according to individual will; go with the flow! Acknowledge mistakes, stop losses, reflect and improve! Next, I will enter a state of crazy work; I want to get back everything I have lost!