{"id":606284,"date":"2024-05-02T22:00:41","date_gmt":"2024-05-02T22:00:41","guid":{"rendered":"https:\/\/ktsl888.com\/?p=606284"},"modified":"2024-05-03T01:27:34","modified_gmt":"2024-05-03T01:27:34","slug":"ethereum-has-been-a-major-disappointment-trader-weights-in-on-this-crypto-cycle","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-has-been-a-major-disappointment-trader-weights-in-on-this-crypto-cycle\/","title":{"rendered":"Ethereum \u201cHas Been A Major Disappointment\u201d: Trader Weighs In On This Crypto Cycle"},"content":{"rendered":"

This crypto cycle achieved some remarkable feats during Q1 2024, including the highest monthly and quarterly close in Bitcoin (BTC) history. However, BTC suffered a retrace that dragged Ethereum (ETH) and the rest of the crypto market down as the year’s second quarter started.<\/p>\n

Now that we are one month into Q2, the market faces another correction. The most recent retrace became the deepest of the cycle, with Bitcoin nosediving into the $57,000 support zone and Ethereum falling below $3,000. Despite the market\u2019s stumble, analysts remain optimistic for what\u2019s to come.<\/p>\n

Related Reading: Is This Cycle\u2019s Bitcoin Bottom In? Analysts Forecast BTC Bounce Back<\/a><\/div>\n

What Makes This Cycle Different?<\/h2>\n

Traders and analysts have urged investors not to panic about the retraces yet. A broader look shows that the market is above levels not seen since the last bull run. As many have discussed, there\u2019s a significant resemblance between this cycle\u2019s performance and previous ones.<\/p>\n

However, analysts have also pointed out the singularities of this bull run. Compared to the 2020 cycle, altcoins \u201cdidn\u2019t even run that hard over the last few months,\u201d as renowned analyst Altcoin Sherpa highlighted<\/a>.<\/p>\n

After Wednesday\u2019s correction, trader and economist Alex Kr\u00fcger weighed in on this cycle\u2019s performance. Kr\u00fcger concurs with some of Sherpa\u2019s points, considering that the market\u2019s \u201ctoo many\u201d options have made the playfield more convoluted.<\/p>\n

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Some thoughts on the current crypto cycle<\/p>\n

#1 The crypto cycle has been almost entirely driven by the bitcoin ETF.<\/p>\n

#2 ETH has been a major disappointment, but it has performed well overall for stakers and airdrop farmers.<\/p>\n

#3 Solana established itself as the chain of choice for\u2026<\/p>\n

— Alex Kr\u00fcger (@krugermacro) May 1, 2024<\/a><\/p><\/blockquote>\n