Trader Eugene Ng Ah Sio predicts the end of the bull market cycle and adjusts its strategy

According to ChainCatcher, trader Eugene Ng Ah Sio said that the bull market cycle starting in January 2023 may be close to the end, with both Bitcoin and Ethereum hitting record highs. His ETH/Bitcoin exchange rate target has been achieved.

He shifted his strategy from capital accumulation to capital preservation and no longer conducted large-scale Martingale momentum trading, although he might miss the subsequent market. He still holds long positions, but the size of his net position has been significantly reduced.

He uses the mNAV indicator of Crypto Reservoirs as a signal to return to the market, and most DATs are expected to trade below 1x mNAV by the end of the cycle. He believes that now is the time to return to real life