Trader Eugene: The bull run cycle is coming to an end, and my own ETH trading has actually concluded.

BlockBeats news, on August 24, trader Eugene Ng Ah Sio posted on his personal channel that it seems we are at the end of the bull run cycle that started in January 2023—I expect this phase will not last more than a few months, as every marginal buyer globally has to some extent turned to and purchased Crypto Assets, with Bitcoin and Ethereum both reaching historical highs. The Ethereum/Bitcoin Exchange Rate target of 0.04 that I set for myself has also been achieved, which for me means that ETH trading has effectively ended. An offensive strategy will no longer be adopted—no more large Martingale momentum trading, and the strategy focus shifts from capital accumulation to capital preservation. I may miss out on any subsequent possible crazy market, but that’s okay, as these fluctuations no longer fit my trading system. This does not mean I have liquidated all positions and taken the opposite position (on the contrary, I still hold long positions), but the net position size has been significantly reduced. I will use the mNAV indicator of the Crypto Assets treasury reserve company as a signal for when to strongly re-enter the market, expecting that when this round of the cycle completely ends, most DAT trading prices will be below 1 times mNAV. We have experienced a good market, and now it is time to return to real life.