Trader Eugene: Has Exited the Crypto Market for Stocks, Will Not Try to "Buy the Dip" in Bitcoin Anymore
BlockBeats News, June 7th - Trader Eugene Ng Ah Sio announced on his personal channel that he has mostly exited the cryptocurrency market since May 13th this year and has shifted his focus to stock market research. He believes that compared to the current crypto market, the stock market is more attractive in terms of research depth, cognitive challenges, and trading and investment opportunities. Based on his assessment of the industry's current situation, he expects to maintain this strategy for the foreseeable future, only keeping an eye on cryptocurrency industry trends without actively participating in trading.
Eugene further stated that he has no plans to re-enter the crypto market unless an extremely attractive risk-reward opportunity appears, which he has not seen yet. He believes that the development trajectory of the crypto market is weakening its attractiveness as a trading and investment field, so he will focus on the traditional stock market in the short term.
Regarding his strategy, Eugene believes that the related risks are just beginning to emerge. He mentioned that even though Strategy has recently sold more Bitcoin, it is merely delaying the issue rather than solving it. He is not optimistic about Bitcoin's long opportunities until the strong correlation between Strategy and Bitcoin is broken. As for the market's bottom position, he admitted his inability to determine it and mentioned that he no longer attempts to catch falling knives through bottom fishing trades.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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