After the last bull market peak on May 19, the market basically entered a bear market. Although Bitcoin and Ethereum, along with a few other coins, broke slightly new highs later, many people got trapped because of that wave of new highs. At the end of the bull market in 2021, Bitcoin and Ethereum broke new highs after May 19 because Wall Street wanted to cash in; I wonder how many people remember that. At the end of 2021, the government shut down Huobi, which was the largest exchange at that time. The government wanted to shut down Huobi at that time to prevent more citizens from being exploited because the Huobi exchange was mostly traded by Chinese people. At that time during the last bull market, many coins were at high positions, but during this bull market, many coins have not risen much. Many people find this market situation hard to understand. Many friends have come to ask me these days whether the bull market is really gone; this question has been a hot topic since last year. Whether the bull market is still here does not depend on the altcoins or Ethereum, but on the trend of Bitcoin; Bitcoin is the barometer of the crypto market.
From the trend of Bitcoin, there is currently no signal indicating a peak, and this new wave of price increase has not shown any reversal signals either. Since that is the case, why worry? Just because a few bloggers or KOLs in the crypto space say the bull market is over, does that mean it really is? The market trend is the most real indicator; all we can do is track trends through trading techniques and judge whether the market is reversing. Anyone predicting market trends and prices is being reckless. Even when listening to news, one should find reliable sources and see if they successfully identified the end of the last bull market or managed to escape the bear market when Bitcoin was at 15487. If they failed to do these things before, they won't be able to do it this time either. Listening to their news and expecting to make money to change your fate is indeed strange. It’s contradictory to hold a bunch of spot assets while worrying all day about whether the bull market is still on, making oneself anxious; such trading is meaningless. The key is that many people fear there is no bull market and also fear missing out, which is very contradictory. Having such a mindset will ultimately lead to severe losses. I have always maintained my viewpoint; although sometimes there are unrealized losses, I can bear them. If I want to earn money from the entire bull market trend, I must endure the fluctuations in between. There is no love without reason in this world, nor hatred without cause; making money is the same. You won’t find free pie falling from the sky, but traps will certainly fall.