this post was submitted on 03 Jul 2023
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ethfinance
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I thought today (July 5) might be the day we break $2K, but we didn’t and we seem to be receding right now.
Which leads me to ask, having lost sight of the /r/ethfinance pulse:
What’s this community’s sentiment with regard to the next few months? Are we still stuck in a foreseeably long bear? Are we at the cusp of a crypto spring? Are there trigger points (such as the Blackrock ETF’s approval, or the XRP verdict) that you think must happen before this is even decidable?
spez: thank you for the replies. I love that among four replies, one says surge up, one says crab sideways, and one says drop back down to the local low.
Spring/bull is imminent IMO. Price action seems to support it. I am not saying that we won't get another major leg down, but I think we have bottomed for now. We can range here until most people reach apathy (I'm mostly here) and then slowly surge upwards (I think we're near here)
Echoing @laughingmime... it's gotta come with volume. There's just nothing there right now. It can be a pump or a dump, but something's gotta give. No one outside the holders cares about crypto right now sadly. It'll return though. It always does.
I think we'll be going sideways for a while still, but without anything tangible to base that on
Slow grind up still, but most of the volume are existing holders playing musical chairs with their holdings.
When the music stops, don’t get caught holding the wrong narrative. Right now the right thing is defi, it changes with the wind.
There isn’t enough retail yet imo for a bull market this year, hope I’m wrong 😅
If I'm remembering right, @kbrot believes the Nasdaq is likely to correct around 10% in the next few months following its huge gains in the first half of the year, and eth could retest $1400 or lower around October.