Crypto Founder Who Sold His Ethereums Likened the Fall to Terra (LUNA) Crash! - Coin Bulletin

robot
Abstract generation in progress

Alliance DAO co-founder Qiao Wang noted that the current oversold state of Ethereum's (ETH) is similar to the 2021 Terra crash, the 2018 bear market, and the 2016 DAO hack levels.

One of the leading figures in the cryptocurrency sector, Qiao Wang, made striking statements that excited Ethereum investors but also caused concern. Wang pointed out that ETH is currently in oversold territory, emphasizing that current price levels are equivalent to the most important crisis periods in Ethereum history.

Among these comparisons were the collapse of the Terra ecosystem in 2021, the major bear season in 2018 when prices dropped to double digits, and the historic DAO hack crisis that Ethereum faced in 2016.

According to the data shared by Wang, the price of Ethereum is currently depicting a pattern quite similar to some of the most dramatic downturns in crypto history. It is stated that ETH, which has experienced significant increases after these levels in the past, may create an expectation of recovery by investors once again.

Qiao Wang, was also in the spotlight last February with a remarkable move. Wang, who announced that he sold the Ethereum he held for 10 years, stated that he made this decision thinking that ETH had reached its peak growth potential.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)