The recent drop in SOL is quite significant. The phenomenon of celebrities issuing coins has become more frequent in the market, which is essentially a "harvest" of retail investors. The Libra coin event launched by Argentina has completely unveiled the veil of this capital game, allowing everyone to witness the ruthlessness of the "sickle" in the market once again.
Since yesterday, a large amount of capital has shifted from SOL to ETH, directly driving up the price of Ethereum. Although ETH has retreated somewhat today following the broader market, the decline is still within an acceptable range compared to SOL's drop from $200 to the current 20%.
The main reason for this correction is that Wall Street was closed yesterday, which limited the inflow of external capital. It is expected that tonight, as the market becomes active again, hot money will gradually enter to "buy the dips". As for SOL, considering the large-scale unlocking on March 1, this negative factor may make SOL relatively weak in performance throughout February. Therefore, I will not consider entering SOL before the unlocking is completed, even if the project party may try to stabilize the price by releasing some positive news.
Previously, SOL had absorbed a large amount of capital originally belonging to ETH, and now the capital is flowing back to ETH, which I personally think is a good thing. After all, February is still in the early stage, and the major upgrade of ETH is scheduled for April 8, and the real outbreak period is most likely to be in March. Therefore, the remaining two weeks in February may be the last opportunity to get on board. Do not underestimate the positive impact of ETH's upgrade, nor ignore the selling pressure that may be triggered by SOL's unlocking. The closer to these key time points, the more obvious their actual impact on the coin price.
If you feel helpless or confused about trading at the moment, I hope my sharing can bring you some inspiration and help!
There are only two reasons why you can't make money:
1. You haven't been exposed to the circles where money can be made
2. You have been exposed, but you choose not to believe
So, the opportunity is not something you wait to see before taking action,
but rather, it is by taking action that you can see the opportunity!
Finally, there are actually a lot of things that haven't been written in, such as specific opportunities and specific decision-making, which are often not something that can be summarized in a single article.
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