PANews reported on August 18 that Simon Dedic, founder of blockchain consulting and investment firm Moonrock Capital, tweeted that Ethereum's recent 10% pullback from its highs is a healthy adjustment. He pointed out that Ethereum has tripled in the past three months. If it currently retests the $4,000-4,100 range and rebounds strongly, it will be a typical bullish confirmation.

He emphasized that the more frequent the turnover of Bitcoin, Ethereum, and other crypto assets during their upward trend, the more sustainable the upward trend will be. Dedic urged investors not to let small fluctuations shake their confidence and to remain confident that the market is still in a bull market.