Odaily Planet Daily reported that Jiang Zhuoer, the founder of the Laibit mining pool, said in a post that his earlier bearish assessment of the market was mistaken. He now has a 90% degree of confidence that the bear market has already ended. He also believes that this round of ETH will become the main driving force of the bull market and may perform better than BTC.

In terms of operations, Jiang Zhuoer said that the ETH he had previously sold between $1,738 and $1,931 was bought back with a stop-loss at $2,100, and when ETH rose to $2,525 he sold 50% of the spot holdings to try to top the market, with the stop-loss set at $2,550.

For funds that are still on the sidelines, Jiang Zhuoer plans to buy all of them if BTC drops into the $67,000 to $72,000 range; otherwise, he will buy at the current price no later than the end of October. He believes that compared with forecasting the market, execution and risk control are more important—"hold on when you’re right, and cut losses when you’re wrong."