BitMine CEO: On-chain data is improving, but coin prices are falling. How is the cost-performance ratio of BTC and ETH now?

Question

On December 2nd, Tom Lee, the CEO of BitMine, made an interesting observation.

He said the market is a bit strange right now - just look at those hard indicators on-chain, the number of wallets is increasing, on-chain interactions are active, Gas fees are being collected as they should, and the progress of asset tokenization is quite smooth. Logically speaking, with such a stable fundamental, the coin price shouldn't be falling, right?

But the reality is that the prices of crypto assets are still declining.

So Tom Lee concluded: in this misalignment state, the risk-reward ratio of BTC and ETH has actually become quite enticing. Simply put, with such good data, if the prices fall instead, wouldn't the cost-effectiveness of buying increase?

This wave does provide a different perspective - sometimes market sentiment and fundamentals can become disconnected in the short term, it really depends on which one you believe.

GhostWalletSleuth · Accepted Answer

The data is beautiful but the coin price is falling. Isn&#39;t this a signal to buy the dip? Haha

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It&#39;s the old routine of fundamentals vs. emotions again, how predictable

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Tom&#39;s words sound like he&#39;s trying to find a reason to buy the dip for himself

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On-chain activity rises but the coin price falls? Oh this is ridiculous

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The cost-performance ratio is high, but the key is to have money, brother

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Those who trust the fundamentals have cut loss, while those who trust the emotions are buying the dip. It&#39;s hard to say who is right or wrong now

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Wait, doesn&#39;t this mean that now is the "bottom"? I&#39;m tired of hearing this phrase

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The number of Wallets is increasing and interactions are active, but the coin is still falling... Is this what they call increasing volume and falling price? History will repeat itself

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When it really gets cheap, no one dares to buy.

BuyHighSellLow · Answer

Haha, it&#39;s the same old story again. I&#39;ve heard too many times about how good fundamentals lead to falling coin prices.

Data may look good, but retail investors&#39; wallets are still dumping.

MissedAirdropAgain · Answer

Ha, isn&#39;t this the typical "data good price fall" magical moment? I love this kind of drama.

CountdownToBroke · Answer

Fundamentals vs coin price, when will this gap be closed...

The data is so good yet still falling, what does it indicate? It indicates that sucker psychology is the way to go.

Is this called misalignment? I’ve noticed it a long time ago, the problem is how many dare to buy the dip.

Tom is right, but the key is you need to have bullets, I’ve been in a Short Position waiting for the bottom.

Why does it feel like this is always the routine, strong fundamentals but the price is at a 50% Slump... Is this time really different?

Don’t get played for suckers, high cost-performance ≠ you must enter a position, wait and see.

ApeEscapeArtist · Answer

With such solid fundamentals still falling, it just shows that the market is playing people for suckers, just wait.

CommunityLurker · Answer

The fundamentals are so good but it&#39;s still falling, should I really buy the dip, or wait and see...

NervousFingers · Answer

The fundamentals are so stable yet still falling, which shows the market is looking for a bottom.

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It&#39;s the same rhetoric again; I&#39;ll wait until I see how this wave of market goes before I believe it.

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Good data but prices are falling... bro, is this logic trying to make me buy the dip? I think I&#39;ll just wait and see.

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To be honest, how much courage does one need to catch a falling knife right now? I&#39;d rather wait a bit longer.

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On-chain data may look good, but wallets are all dumping, that&#39;s the real truth.

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Those who bought based on this logic are all losing; better not get fooled.