Trader Nachi: The market is unlikely to recover significantly before the end of the year, and crypto stocks such as Coinbase and Robinhood still have room to fall.

PANews reported on November 14th that Nachi, a cryptocurrency trader who earned tens of millions of dollars during the DeFi Summer, stated that Bitcoin has fallen below the key $100,000 level, and after a brief rebound, the market has broken below the key pivot range. Furthermore, US stocks are experiencing weakening momentum due to a reduced probability of a December rate cut and a delayed government shutdown, with investors inclined to take profits at year-end.

Nachi points out that while there is still downside potential in the market, the current crypto market has already undergone a significant correction, and it may be too late to short again at this point. In contrast, strong crypto stocks like COIN (Coinbase) and HOOD (Robinhood) still have room to fall and offer a better risk-reward ratio, but shorting the market requires flexibility.

He suggested that investors who are not good at short selling should increase their cash holdings and wait for better opportunities to buy at the bottom, and predicted that the market would be difficult to recover significantly before the end of the year.