I hope this round of the bull market ends soon.
At three in the morning, I stared at the K-line on the screen, with Bitcoin repeatedly testing the $110,000 mark. The frenzy from half a month ago when it surged to $124,700 feels like it was just yesterday, yet now the community is full of panic asking, 'Has the bear market arrived?'.
Even more eye-catching is the altcoin sector, where some coins have dropped over 30% in 24 hours. My friend Akai just messaged: 'I can't hold on anymore, I sold all my SOL, afraid I might lose my principal too.'
This scene is reminiscent of every previous bull market. Akai entered the circle only in March, making quick money by chasing altcoins, always saying Bitcoin 'is too slow to rise', but after a drop of $14,000, those who once shouted 'bull market to $200,000' were the first to panic. In fact, it’s not just him; many in the community are wavering—those who believe in the four-year cycle always doubt during corrections, their holdings dwindling; those who shout 'believe in the long bull' dare not reach out when the price is above $100,000, watching the correction turn into a buying opportunity, only to hesitate and miss out.
I’m not that anxious; instead, I have a strange expectation: I hope this round of the bull market ends soon. It’s not that I’m bearish on Bitcoin, but I’ve seen too many times the 'calamity in the cycle'—in 2021, when Bitcoin fell from $69,000 to $30,000, I also woke up at midnight to check the market; in 2018, when it dropped to $3,000, some people around me directly cleared their positions and never came back. Every rise hides calamity; only those who endure can touch the next mountain. What I’m waiting for is not a specific price but the moment when this cycle truly wraps up, like bidding farewell to an old phase and waiting for a new beginning.
Some say I am too optimistic, 'Bitcoin at $110,000, rising to $1,000,000 in ten years? Impossible.' But I always think of Microsoft and Apple in 2015—back then, Microsoft was $45, and some said 'it's peaked'; Apple was $30, mocked for 'just selling phones'. Looking back now, Microsoft is nearly $500, and Apple is over $200, multiplying by 7 to 10 times in ten years. Why can't Bitcoin do the same? It is not an ordinary commodity; it is the only decentralized value asset in the world, and this scarcity should ferment over time.
I slowly started to adjust my positions, exchanging some Bitcoin for gold ETFs and blue-chip stocks. My friends scolded me for 'betraying', but I know this is a process of 'gradually separating from Bitcoin'. It will ultimately grow up, just as children must eventually leave the nest. The main players now are still ETFs and institutions; they increase their positions when the price goes up and decrease them when it goes down, even more impatient than retail investors, far from true faith. But one day, when the veterans of 13 years, the latecomers of 17 years, the American retail investors of 21 years, and this year's ETF players all survive the 'death and rebirth', Bitcoin will, like the Nasdaq, no longer rely on cycles for support, entering a true super long bull market.
At this moment, Bitcoin is still fluctuating around $110,000, and the panic in the altcoin market continues to spread. But I am no longer entangled in short-term fluctuations; after all, for true long-term holders, $120,000 is not the end, and $1,000,000 is not a fantasy. When this round of the bull market ends, when the cycle completes its cleansing, Bitcoin will be more stable, and we who have endured will understand its value better.
At three in the morning, I stared at the K-line on the screen, with Bitcoin repeatedly testing the $110,000 mark. The frenzy from half a month ago when it surged to $124,700 feels like it was just yesterday, yet now the community is full of panic asking, 'Has the bear market arrived?'. Even more eye-catching is the altcoin sector, where some coins have dropped over 30% in 24 hours. My friend Akai just messaged: 'I can't hold on anymore, I sold all my SOL, afraid I might lose my principal too.'
