Yeah, all those unexperienced traders were expecting a surge in price before or after the merge, but instead it went the otherway around. This could be basically foreseen by those who know the fundamentals. Now, if Ethereum was something valuable when it was represented by a decentralized network, logic would point out that it would not be that valuable if it was not decentralized. Eth is now absolutely centralized, so I see no difference from BNB at this point. Now, would you say that BNB would go to 5k as well, and what would be the fundamentals behind that belief??? That is about what I can say to anyone who still sees value in eth...
It went the other way around because the global economy is in a pretty bad shape. That, and also the fact that investors were disappointed after they've discovered Ethereum became a centralized "shitcoin". We can never expect prices to rise if there's a lot of negativism surrounding the market. I think it's going to take quite some time before ETH reaches a new All-time-high in price. The same can be said about Bitcoin. Only those who're patient will be able to obtain great results with their investment in the future.
I just hope ETH solves centralization issues, to help fulfill its promise of being the "unstoppable platform for decentralized applications". Otherwise, the idea of Web 3.0 would become nothing but a dream. No one knows what the future holds for ETH, so we can only hope for the best. Just my opinion
