CoinVoice has recently learned that trader Eugene Ng Ah Sio posted on his personal channel indicating that we seem to be at the end of the bull market cycle that began in January 2023—I expect this phase will not last more than a few months, as every marginal buyer around the world has turned to and purchased cryptocurrencies, with Bitcoin and Ethereum both reaching historical highs. The high target rate of 0.04 for Ethereum/Bitcoin that I set for myself has also been achieved, which means that ETH trading has essentially ended for me.
An offensive strategy will no longer be adopted—no more large Martingale momentum trading, and the strategy focus will shift from capital accumulation to capital preservation. I may miss out on the subsequent potential crazy market, but that's okay because these fluctuations no longer fit my trading system.
This does not mean I have cleared all positions and turned to short (on the contrary, I still hold long), but the scale of net positions has been significantly reduced. I will use the mNAV indicator of the crypto treasury reserve company as a signal for when to strongly re-enter the market, expecting that when this round of the cycle is completely over, most DAT will trade below 1 times mNAV.
We have experienced a good market, and now it is time to return to real life. [Original link]
