Jiang Zhuoer: Shorted ETH at $2242, Event-Driven Rebounds are Opportunities to Add Shorts in Bear Market

On April 8, Jiang Zhuoer, founder of the Liebit mining pool (B.TOP), stated, "I have shorted ETH at $2242. Trump's actions have faltered, and the U.S.-Iran war is likely to end with Iran controlling the Strait of Hormuz (collecting tolls), which the U.S. does not legally recognize (but tacitly accepts). This is America's Suez Canal moment. (In 1956, the UK lost control of the Suez Canal, marking the end of the British Empire's global hegemony.) The bear market cycle is not over yet, and event-driven rebounds are opportunities to add shorts. There is also a small chance of renewed conflict. This is a short to medium-term operation, similar to the last time when I went long at $1850 and closed at $2144."