Trader Luke Skywander: Bear Market Not Over Yet, Most Shitcoins Still Not Worth Buying

BlockBeats News, August 24th - Renowned trader Lu Yao expressed his views, stating that the current crypto market is still in a bear market cycle, but may have entered the latter half of the bear market, which can be referred to as the "Monkey Market," characterized by significant price swings. The current upward trend is expected to continue, with Bitcoin possibly retesting $90,000 to $100,000. However, considering the duration and previous drop, the bear market cycle is not over yet, and the market may still experience intense volatility.

Crypto investors are advised to avoid being fully in cash or fully invested at this stage. They should participate in the market with an appropriate position, selling when the price is high and buying when it is low. The key is not to be extremely bullish or bearish but to maintain a flexible trading strategy. The current market is still in a "super volatility" phase, with 99.9% of altcoins still not worthy of investment. Investors should control their positions and remain cautious.