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While Korean traders are selling #ETH en masse, resulting in a Kimchi discount, I hold an opposite view: Ethereum will break its previous high from 2021 and challenge at least $10,000.
Some fundamental factors:
1) Fed rate cut is almost confirmed for Sept. The market is already pricing in the cut. Don't fight the Fed.
2) BTC whales are rotating into ETH, which they will rotate back into BTC later. Don't fight the BTC whales.
3) Bitmine has only accumulated ~20% of its 5% circulating supply target. Supply shortage is inevitable. Don't fight Bitmine.
4) Wall Street is now turning their attention to ETH due to Thomas Lee's comments on CNBC and other channels. Don't fight Wall Street.
5) BTC was overbought, and ETH was oversold so far in this cycle. Now it's time for a mean reversion. Don't fight the trend.