Eugene: The altcoin market is over, say goodbye to crypto treasury companies

BlockBeats News, October 12, trader Eugene Ng Ah Sio posted on his personal channel, stating, "There have already been many in-depth analyses regarding Friday's incident. I'll just briefly mention a few points:

· The altcoin market has ended for the foreseeable future. The scale of wealth destruction this time, as well as the way it was executed, will leave a long-lasting mark in the minds of participants.
· Long-short strategies are not feasible in the crypto market. These strategies may work in normal market environments, but they often fail at the most critical moments.
· Chain reactions (contagion) will occur, but the extent is still uncertain. I hope there are no systemic major issues.
· Farewell, crypto treasury companies."