Recently, there has been talk about the counterfeit season happening in the US stock market, and the on-chain environment is extremely desolate. I wonder if those still holding on are feeling anxious?

For me, I will not leave the chain. However, I have also kept my risk very low. I only invest about 10% to 15% of the funds I had after escaping the last market peak on-chain.

The environment on-chain is characterized by extreme volatility, which inherently carries leverage. Pursuing asymmetric risk with small positions on-chain is the most rational approach. Of course, there are some chosen ones who can handle large amounts of capital even in high volatility; that’s just their fate. One should be clear about whether they possess the necessary conditions.

Investing on-chain during this currently bleak period, if a new market trend emerges within three months, there could be significant returns. If not, the losses won't be too drastic. That’s my plan.

Should one follow the hot money to shift fields? This heavily depends on personal character. Chasing different waves to rotate has the advantage of never having to sit on the sidelines, but the downside is that if you run slow, you’ll keep getting hit.

Based on my understanding of myself, long-term investments in the stock market with large funds and playing on-chain with small funds is the most suitable combination.

For most people, mastering a specific skill is sufficient; having one strong ability is enough to thrive until it becomes ineffective, and there’s no need to expand too many skills too soon.

The market on-chain, if it doesn't come this year, will come next year. My habit is to always isolate and reserve living expenses for over three years; I think that should be ample. As long as one continues to stay in the game, there will be infinite possibilities. We are playing a game of probabilities in investing; no matter how accurately you predict, there will always be black swan risks, so it's best not to put all your eggs in one basket.