Everyone getting FOMO, forgetting all the macro economic headwinds. This is but a small bear market rally, just like the one I’ve highlighted in 2018 (i cant add images but in 2018 there was a similar run from 6 to 9k, then back down to 6 then inevitably 3k) just as people are doing right now yelling how the bottoms in and better days are ahead. The bulls gonna get hard trapped, we haven’t even seen actual capitulation yet.
Shanghai hard fork in march. All the staked eth is finally gonna be able to be withdrawn, if the user wishes to. This can be done at a fixed rate of 40,000 ETH per day. (Edited for clarity) What does that mean? Selling pressure. MtGox refund in March, oh wait, more selling pressure. People banging on about the bottom and how no one sold during the FTX fiasco. This is just a massive short squeeze, the tide will turn the other way before you know it.
Now, I’m not tryna shit on yalls little party and I know your already smashing the downvote writing a mean comment. But I stand by my word, either I’ll become a meme or a genius. See yall in 3/4 months. Best of luck!