Trader Eugene: The bull market cycle is coming to an end, and I have finished my ETH trading

ChainCatcher message, trader Eugene Ng Ah Sio posted in his personal channel that it seems we are at the end of the bull market cycle that started in January 2023------I expect this phase to last no more than a few months, as every marginal buyer globally has, to some extent, turned to and purchased cryptocurrencies, with Bitcoin and Ethereum both reaching all-time highs now. The high target of 0.04 for the Ethereum/Bitcoin exchange rate that I set for myself has also been achieved, which means that ETH trading has effectively ended for me.

No more aggressive strategies will be taken------no more large Martingale momentum trading, with the focus of the strategy shifting from capital accumulation to capital preservation. I will likely miss out on any subsequent crazy market movements, but that’s okay, as these fluctuations no longer fit my trading system.

This does not mean I have cleared all positions and gone short (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 treasury reserve company as a signal for when to strongly re-enter the market, expecting that when this cycle is completely over, most DAT trading prices will be below 1 times mNAV.

We have experienced a good market, and now it’s time to return to reality.