Jiang Zhuoer: The current downturn is a severe oversell, I have bottom-fished ETH at $1,850

BlockBeats News, on February 6, B.TOP (LaiBite Mining Pool) founder Jiang Zhuoer stated on his social media this morning that the crypto market "has experienced a severe oversold situation since the decline starting from January 28, and there is a need for a mid-term recovery adjustment."

Jiang Zhuoer also mentioned that he has "bought the dip in ETH at $1850, with a stop loss at $1790. The take profit target hasn't been set yet, let's wait and see. Such oversold opportunities only appear once in years—missing out would be a big loss."

Jiang Zhuoer's LaiBite Mining Pool was once one of the top-ranked bitcoin mining pools in the world, and during the bull market peak at the end of 2017, it briefly held the number one position in global hash rate.