After years of navigating the crypto world, you'll notice a very ironic phenomenon: most people jump in during a bull market. At that time, no one is afraid, they go all-in on spot holdings at the high, even leverage and go all-in. As a result, when the bear market hits, they lose everything. When the market hits bottom, the entire network is filled with lamentations, and prices are smashed to levels once thought unimaginable. The question is—should they start to act at this point? But the reality is quite the opposite. When it's time to build positions, their legs turn weak; those who have already built positions don't dare to hold through the next bull run. Isn't that ironic?

Can these people make money? The answer is obvious. The market is always talking about "be greedy when others are fearful," suggesting buying when no one cares and selling when everyone is talking. It sounds very reasonable. But how many actually do it?

The market is like a performance. Price is just the lighting effect on stage; what truly drives the plot is the resonance of audience emotions. Without actors, only spectators. When prices go up, more and more people rush onto the stage, and eventually, the entire market is carried by this emotion, staging scenes of prosperity and decline.

So what should we do? Buy the rights to future rises during the collapse—that's the correct stance for rational investors. The key is to have your own ideas and not be swayed by market sentiment.

Looking at the experience of cryptocurrency over the past ten-plus years makes it clear. This thing has been suppressed by regulation, questioned, ridiculed, but each time it fights back fiercely, slapping those who speak ill of it in the face. Now, once again, it has fallen and become a target.

What’s your choice?