On August 6, top trader Eugene Ng Ah Sio shared some of his long-term views on market operations on social media, including:
When there is a lot of uncertainty and weakness in the market, I usually don't want to go long actively.
2. I used to buy counterfeit products, but set a risk limit. After Bitcoin fell below $60,000, I gave up buying. I will not buy these counterfeit products in the foreseeable future.
3. This decline is the combined result of US election uncertainty + yen carry trade position squaring. But my biggest concern is a deep recession, as this usually triggers a deep stock market bear market, which cryptocurrencies have never experienced.
4. Despite the sharp decline in recent weeks, I still see considerable complacency in the market.
5. As always, I recommend making capital preservation a top priority in this situation.
Top trader Eugene: Worried about a deep economic recession, advises to prioritize asset preservation at present
2024-08-06 03:59:53
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