Ng Talk Say Dat Bull Market Enter ‘Endgame’ as ETH/BTC Reach 0.04
Trader Eugene Ng Ah Sio talk COINOTAG News for August 24 sey di crypto market dey enter di endgame of di bull cycle wey start for January 2023. Him talk sey both Bitcoin and Ethereum don reach high valuations and say di ETH/BTC ratio reach 0.04 — di target level wey him get. Since ETH/BTC don reach dis milestone, Ng change im strategy from aggressive Martingale momentum trades go capital preservation. Him still keep some selective long exposure but don reduce net positions well-well while e dey monitor di market net asset value (mNAV) indicator to guide any big re-entry. Ng expect sey sector valuations go compress compared to mNAV as di cycle dey close, e dey advise traders make dem dey cautious for di months wey dey come.
Bearish
Trader Eugene Ng talk say di bull market don reach "endgame" an im don shift to capital preservation, dis one dey bring cautious vibe go di market, e show say di near term outlook fit be bearish. Historically, when top market players talk say dem wan protect dia gains, e dey usually come before consolidation or market correction. For example, for past cycles, similar warnings from big traders happen before Bitcoin mid-cycle corrections for 2017 an 2021.
Ng target to reach ETH/BTC ratio of 0.04 mean say Ethereum don peaked for this phase compare to Bitcoin. Im decision to reduce net positions dey remove buying pressure, fit cause price to move sideways or down because some marginal buyers go dey pause. Watching mNAV indicator tight mean say im dey expect valuation compression across sectors, dis one gats reinforce risk-off environment.
Short term, traders fit reduce leverage and tighten stop-loss levels, wey fit cause more volatility as bids go dey thin. Long term, if mNAV support re-entry at lower valuations, new accumulation window fit open, but na only after consolidation phase. Overall, Ng position dey point to bearish outlook for di next few months, caution go remain until clear buy signals show.