BlockBeats News, October 12th, Trader Eugene Ng Ah Sio posted on his personal channel, stating, “Regarding the events on Friday, there have been many profound analyses already. Let me briefly mention a few points:
· The era of altcoins is over in the foreseeable future. The scale of this wealth destruction and its execution will leave a long-lasting imprint in participants’ minds.
· Long-short strategies are not feasible in the crypto market. These strategies may be effective in normal market conditions, but often fail at the most critical moments.
· Chain reaction (contagion) will occur, but its extent is yet to be determined. I hope there won’t be any systemic issues.
· Farewell, crypto treasury companies.”
