What do you think about the current state of the cryptocurrency market?

The situation in the cryptocurrency market is as follows: retail investors are quite enthusiastic, but there isn't much big capital coming in.

Why is that? The Americans have been continuously raising interest rates, and the regulations are strict; previously, most of the big capital came in and out through their banks, but now that route is basically blocked. Additionally, the overall environment is poor, and institutions don't have much money on hand.

Domestic regulations have also been strict, and project teams in the country have to be very cautious and dare not to be too flamboyant.

Moreover, there isn't anything truly innovative in the cryptocurrency market; most of it is just old wine in new bottles. Retail investors want to find some opportunities on the blockchain, but without new capital coming in, the chances to make money won't last long, and it's hard for retail investors to reach a consensus to play together.

So when will it get better? We need to wait for the Americans to start easing monetary policy to increase the money supply in the market; if the policies in Hong Kong can truly be relaxed, it would allow more institutional capital to come in. At the same time, Bitcoin whales need to tell a good story about the halving to rally people's spirits, and Ethereum also needs to continue optimizing to lower transaction fees on the chain.

Last year was quite tough in the cryptocurrency market; retail investors either chased some airdrops or speculated on those small junk coins. If they bought coins and just held onto them, the risks were actually quite high. When the Americans start cutting interest rates, the market will definitely speculate on Bitcoin's halving in advance, and by that time, there will probably be more opportunities.

This is the rhythm of the upcoming bull and bear market transitions in the cryptocurrency space. If you grasp this well, there won't be any major problems; the remaining issue is whether you have faith in the cryptocurrency market!