The previous crypto market is completely different from now.

Back then, there were still a lot of unfulfilled expectations in the market.

In the eyes of most people, it still looked like a scam.

Until 2021, top influencers like Musk entered the scene, and some institutions began to position themselves, pushing crypto back into the mainstream spotlight.

However, even so, there were still too many key expectations that had not been fulfilled at that time:

ETF, recognition at the national level, more listed companies and institutions officially entering the market...

These unfulfilled but highly certain expectations formed the most important underlying support during that phase.

So in that round, I could be very aggressive.

Because I knew very clearly that this was highly likely to succeed.

No matter how much it fell in the short term, I was not afraid,

Because I knew that as long as time was extended, the price would definitely go back.

It was also because of this certainty that I was willing to continue writing articles, expressing opinions, and investing faith.

It was not blind optimism, but a firm belief in the correct direction.

This round of genuinely easy profit-making phases was actually very short.

It was roughly concentrated from early 2023 to April 2024.

During that time, buying mainstream could earn money, buying altcoins could also earn money; the risk and return structure was extremely friendly.

Many people were still hesitating at that time, thinking that 2023 was just a technical rebound. Those who truly entered the market were instead the ones who chased high after confirming the bull market had arrived. Many believed the bull market had come, chasing Ethereum and various altcoins...

However, the real change happened after all expectations were fulfilled one by one.

The ETF was launched, institutional paths became clear, and regulatory directions were defined,

Almost everything that should have come had come.

When all expectations were fulfilled, the market lost its reason to continue being "nurtured."

Further declines were no longer a matter that faith could solve, but rather a structural issue.

Looking back, this is not a denial of the market, but a respect for the phase.

Some market conditions rely on unfulfilled futures,

While in some phases, what remains is only games and emotions.