Bonk Guy: The Binance hack incident brings to mind '10.11', and the market needs to be on alert for a second decline.

BlockBeats news, October 30 - Bonk Guy posted on X platform stating that after the Binance hack incident, he does not believe we are out of danger yet. Previously, after major CEX thefts, Bitcoin continued to plummet 21% within a week.

Bonk Guy stated that the incident is reminiscent of the 10.11 event, when everyone thought the bottom would arrive immediately after such a massive purge, but instead we experienced one of the worst crypto winters in the industry in terms of both scale and duration. Bonk Guy said, "It's hard to imagine things getting worse, and I don't think this time will be as bad as 10/10." However, he still advises users to be cautious when bottom-fishing and to guard against a second decline.