Everyone is asking the question: is Eth dead, have we entered a Bear market or was this simply a rebalancing and necessary pullback, ahead of another surge? Should I have sold? Should I have HODLed? Were Diamond hands foolish this time or is the age old DCA approach to buying shares and crypto and holding for the long term still the best approach?
On the one hand it's a blame game: Elon, China, the BIG institutions, the whales, the market manipulators. On the other hand, some claim that the likes of Binance SmartChain, Cardano, Polkadot and Solano are competing strongly for their place alongside Ethereum and that the Ethereum project itself is in danger of being usurped by better blockchain technologies entering the market, pointing to faster and cheaper transactions with better decentralisation, amongst other markers.
Analysts canvassed by Forbes have pointed to it simply being a "healthy retracement", reminding investors that the digital currency skyrocketed this year and that's it's fall back had occurred amongst a "broader sell-off in digital currencies". It all points to a correction ahead of a broader build-up and they cite a number of CEO's of Digital asset companies as supporting this view. In addition, the relatively short life of crypto so far, and the price volatility of crypto markets, make them unpredictable.
The future of Eth seems unpredictable at best and as I don't have a crystal ball to show me the future, I can only do the research myself, inform myself as best as possible and make my own decisions on whether to jump ship or HODL, and I suggest you do the same. We are all responsible for our own investments and this is not financial advice. I personally have not sold but have not lost much either, so I am not worried, but I believe that I am only in this position as I have been using a consistent DCA approach and buying a little extra in the dips. I accept the innate volatility of digital assets (hence their ability to yield high returns and deliver searing losses) and therefore only include them as a small part of my investment portfolio.
Personally I am holding thumbs for the next move upwards as Eth progresses to Eth2 and the blockchain addresses the challenges that have been holding it back, but I am also taking cognisance of other interesting players in the market and throwing some of my attention and FIAT in their direction too.
Link to Forbes article below which I found rather interesting and it is worth visiting their website to read the views espoused by various analysts and CEOs on Ethereum current position: