Trader Eugene: Has Temporarily Retired from the Crypto Market to Pivot to US Stocks, Will No Longer Try to "Buy the Dip" in Bitcoin

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 challenge, and trading and investment opportunities. Based on his assessment of the industry's current state, he expects to maintain this strategy for the foreseeable future, only keeping an eye on the crypto industry dynamics without actively participating in trading.

Eugene further mentioned that unless the market presents a highly attractive risk-reward ratio opportunity, he has no plans to return to the crypto market for now, as such conditions have not yet materialized. He believes that the development trajectory of the crypto market is diminishing its attractiveness in the trading and investment space, therefore, he will continue to focus on the traditional stock market in the short term.

Discussing his Strategy, Eugene believes that the relevant risks are just beginning to surface. He stated that even though Strategy has recently sold more Bitcoin, it only postpones the issue rather than resolves it. Until the strong correlation between Strategy and Bitcoin is broken, he does not see favorable long opportunities for Bitcoin. Regarding the market's bottom position, he admitted his inability to determine it and has stopped attempting to "catch a falling knife" through bottom-fishing trades.