Not long after LUNA collapsed in mid-2022, ETH price was bottoming at around $900. Then the merge was announced to be scheduled in 4 months. And that was the last time we see ETH under $1K.

Despite lots of FUD about potential failed merge, the price climbed from $900 steadily up to $2,100 right before the merge, then despite the merge being successful, people started ‘selling the news’ so ETH started to plung and reached its next bottom at $1000 when FTX collapsed.

Now ETH has climbed back to its pre-merge hype price at $2100, thanks to its deflationary effect, ETF hype, and FED rate pause. So even if you were suckered into holding a bag right before the merge, you will be breaking even now. If you bought anytime before and after, just not right at the merge event, you will be already in green.

Do you think this pattern of “selling the news, then slowly recover” will be repeated with Bitcoin ETF event? Will BTC dump right after ETF approval just to slowly climb back to pre-ETF level due to halving + rate cut + slow capital injection from the institutes? Or this time will be different and BTC will just dump a bit after ETF approval then go to 100K EOY?