ChainCatcher reported that Jiang Zhuoer, founder of the Lybit Mining Pool, said his earlier bearish view on the market was wrong and that he now has a 90% conviction that the bear market has ended. He also said ETH may become the main driver of this bull market and could outperform BTC. On trading, Jiang said ETH sold between $1,738 and $1,931 had been bought back at $2,100 as a stop-loss, then 50% of spot was sold at $2,525 in an attempt to call the top, with a stop-loss at $2,550. For capital still sitting on the sidelines, he plans to buy all in if BTC falls back to the $67,000-$72,000 range, or no later than the end of October at current prices. He added that execution and risk control matter more than predicting the market: "Hold when you are right, stop out when you are wrong."
ChainCatcher reported that Jiang Zhuoer, founder of the Lybit Mining Pool, said his earlier bearish view on the market was wrong and that he now has a 90% conviction that the bear market has ended.
Jiang also said ETH may become the main driver of this bull market and could outperform BTC.
On trading, he said ETH sold in the $1,738 to $1,931 range had already been bought back at $2,100 as a stop-loss. He later sold 50% of his spot ETH at $2,525 in an attempt to call the top, with a stop-loss set at $2,550.
For funds that are still sitting out the market, Jiang plans to buy in fully if BTC pulls back to the $67,000 to $72,000 range. If that does not happen, he said he will buy at current prices by the end of October at the latest.
He added that, compared with forecasting prices, execution and risk control matter more in trading: "Hold when you are right, stop out when you are wrong."
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