There is a high probability of another low point around 2050. This wave's end will be very difficult to endure. There has been almost no rebound throughout this decline, providing no profit space for the bulls. Therefore, it is likely that we will enter a phase of panic. The bulls are afraid of a crash and dare not open positions, while the bears are afraid of a strong rebound and also dare not open positions. Two situations may arise: 1. Wide fluctuations that appropriately provide short-term profit space to restore confidence for small investors. 2. One-sided stair-step inducement market, waiting for enough chips to cut off and enter a deep bear market. Additionally, if an unpredictable black swan event occurs, the entire market may become very dangerous.