Well-known cryptocurrency dealer Eugene Ng Ah Sio just lately shared a submit on social media, expressing his doubts concerning the market’s capability to keep up the $60,000 stage and introduced that he closed all his buying and selling positions.
Ng detailed current buying and selling exercise, together with two declines in perpetual contracts and bigger declines in spot buying and selling because of current worth actions. He admitted that his lack of self-discipline in executing the ETHBTC transaction and prematurely closing his BTC brief place resulted in a lack of $1.1 million on each buying and selling pairs.
“Though I had averted some losses, I made a decision to take a protracted place yesterday after Friday’s market crash. Nevertheless, the market clearly didn’t reward this choice and the spot worth continued to fall to $60,000,” he mentioned.
Ng mentioned that the presence of unknown variables available in the market is growing:
“Whereas the risk-reward ratio of shopping for help is usually higher than chasing momentum, I am unsure if $60,000 will maintain.”
*This isn’t funding recommendation.