Pickle Cat: US Stocks May Face Continued Pressure, ETH Still at Risk of Further Decline
OdailyOdaily News: Trader Pickle Cat's Den posted that over the past three months, the more correct choice has been to avoid contract trading and buy spot through dollar-cost averaging. He believes that newly purchased ETH may still face unrealized losses, and that a price drop to $1,500 next year may already be a relatively good scenario.
He stated that the market pressure brought by the current US political and economic situation has not yet fully manifested, and he expects the Federal Reserve to still raise rates in December, with rate hikes possibly continuing next year. In addition, he believes that the AI industry bubble and the downside risks in US stocks have not been fully released, and the market may face further adjustment in the future.
The trader also said that he had previously planned to buy when ETH fell to $888, but now believes that this price level may no longer be an extreme scenario either.
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