Eugene: The altcoin market is over, say goodbye to crypto treasury companies
BlockBeats News, October 12, trader Eugene Ng Ah Sio posted on his personal channel, stating, "There have already been many in-depth analyses regarding Friday's incident. I'll just briefly mention a few points:
· The altcoin market has ended for the foreseeable future. The scale of wealth destruction this time, as well as the way it was executed, will leave a long-lasting mark in the minds of participants.
· Long-short strategies are not feasible in the crypto market. These strategies may work in normal market environments, but they often fail at the most critical moments.
· Chain reactions (contagion) will occur, but the extent is still uncertain. I hope there are no systemic major issues.
· Farewell, crypto treasury companies."
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.
You may also like
AI shifts from “reason for rate cuts” to “argument for rate hikes”: Cook says only a small portion of the 2 trillion dollars capital expenditure is spent, and electricity and water prices have increased by about 5%.
Federal Reserve Governor Cook pointed out that the substantial capital expenditures for AI will continue to intensify price pressures, while the wealth effect in the stock market driven by AI is also stimulating consumption. She believes that the productivity gains from AI will bring about a moderate easing of inflation in the coming years, but this alone will not be enough to offset the mounting inflationary pressures expected later this year.
Casa Minerals closes C$1.5 million flow-through private placement tranche
BUZZ - Navitas shares surge as it secures US Army-backed semiconductor project
Crypto prices
More
