浮生论金

The sky has fallen. Is the bull still there? What exactly happened?
1. Just now, Nasdaq futures plummeted, flashing a 2.5% drop, pulling the cryptocurrency market down with it. The reason for the crash is China's release of DeepSeek, which has low capital requirements and low energy consumption, with results that rival ChatGPT, causing panic among American investors. It has also led Wall Street to doubt their over-investment in American AI, with high input and low output.

2. The cryptocurrency market is currently in a state where the benefits of Trump's presidency have been fully realized, and the pullback is something we expected; it is very normal. Last January, when the Bitcoin ETF was approved, BTC pulled back from 48,000 to 38,000, a drop of over 20%, and then soared to 70,000.

This time, with the benefits of Trump fully realized, it should also pull back by about 10-15%. I expect this pullback to be slightly less than the last time, consolidating at around 20,000 before going back into a bull run. The bull market is still there, and the bullish expectations remain unchanged; it’s just that the bull is now bending down to drink some water.

Whether it's Sol, Doge, or the OM released yesterday, we have always recommended selling at high points to do some swing trading. Looking back, all have been sold at very high prices. In the short term, one can grab some during the pullback for a rebound, while in the long term, after re-entering at the bottom, one can hold on because the next wave will be Ethereum's upgrade, which, like last year, will also usher in another boom around March.

Persevere. Patience.