I am curious if the current price action reflects an upcoming sell-the-news event for this year. No, I don't think 1559 is fully priced into ETH, and we have a lot of upside in the long term. But, lets look at some other major milestones in 2021 so far:
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Coinbase debuted as a publicly traded company on April 14, 2021. Bitcoin reached its ATH for the year precisely at this time, and afterwards has not seen $64k since.
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Dogecoin reached its ATH of around .70 cents on May 6 while the Elon Musk episode of SNL was aired shortly after on May 8 and DOGE hasn't seen that price range since either.
Ethereum is about to get its biggest newsworthy event for 2021 with the adoption of EIP-1559. While I do think that ETH 2.0 is definitely the larger narrative for where we are at as a community, in about 48 hours there will be Ethereum headlines all over crypto news, social media, and probably the general press.
How will the spotlight make ETH move? It could go either way, really, and was just something I was thinking about today.
It's important to note that these other two examples above differ from the current price action of ETH, especially because the news event is not preceded by an All-Time High for us. But will anyone else not be surprised if we see a dip in the charts shortly after 1559 goes live?
Ether way I am just going to keep up the DCA and HODL while hanging out here with all of you beautiful people. Cheers!
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