Every year is tough, but this year is especially tough. One blow after another. Tomorrow I'm going hiking and to the temple to pray for good fortune, hoping the market will pick up 🙏 I don't know which deity I've offended these past few years.

Tonight will be the real test of the strength of this rebound!

Don't worry about the market, don't worry about BTC and ETH. Crypto will recover, and prices will go up. Whether you recover depends on whether you've done the following: 1. Don't use any leverage. 2. Don't short sell. 3. Buy mainstream coins on dips. Accept getting rich slowly; those who fantasize about getting rich overnight usually end up badly. 4. Let time take care of your competitors. The right path is that simple and straightforward. Just hang in there.

We need to pay attention to whether the market will repeat the trend from April to August. The current market sentiment is very similar to that of April, also characterized by extreme pessimism. Subsequently, from April to August, major cryptocurrencies were all climbing: ETH from $1400 to $4800, BTC from $74,000 to $120,000, and BNB and SOL were also climbing. At that time, most altcoins were still fluctuating at the bottom, or even declining. In other words, the fortunes of major cryptocurrencies and altcoins were not aligned. The market only started to show signs of a bull market in August and September. Because most people didn't hold major cryptocurrencies, they didn't feel the significant gains in ETH and BTC. The current market sentiment is extremely pessimistic, very similar to April. I've already gone all in to buy the dip, stopped posting tweets, and let things be. I'll wait for major cryptocurrencies to rise first, and then gradually switch my holdings when altcoins show signs of movement.

Retail investors following Michael Burry's lead in shorting #Nvidia and #BTC is tantamount to suicide. 1. Michael Burry used options and other short-selling tools. If you try to short with contracts, you can't withstand the volatility. 2. You don't have Burry's resilience. Burry could hold out for years; can the average retail investor? 3. Short selling is logically a low-return investment strategy: limited profit potential and unlimited risk. 4. Shorting #Nvidia and #BTC is like shorting AI or crypto narratives; time is poison, and the toxicity increases with each passing day. 5. I haven't thoroughly studied Burry's short-selling tools. He may have used a series of tools to ensure a sufficient risk-reward ratio. But most retail investors lack such channels and skills, and their risk-reward ratio is likely insufficient.

$BNB {spot}(BNBUSDT) #MEME #memes #CryptoMemes #USGovShutdownEnd?

I've been spending a lot of time thinking lately, so I haven't been able to write long articles. Here are some points I think might be helpful: 1. More and more people are talking about a bear market. I disagree. This bull market is driven by institutions. Institutions like Bitmine are still increasing their holdings, and on-chain whales are also increasing their holdings, especially for ETH, where the upward momentum has been consistent. 2. Major cryptocurrencies have been in a state of intense trading during this cycle. Valuable major cryptocurrencies are rapidly circulating into institutional hands, while retail investors are accumulating more and more worthless memes and altcoins. This can be verified by the outflow from CEX. 3. The market is currently in a phase of upward fluctuation. Holding onto your coins requires courage and faith. 4. "Investment philosophy" is similar to what Duan Yongping calls "corporate culture." Many people scoff at it, but your investment philosophy determines whether you can go the distance. 5. Most memes are garbage, and retail investors are happily panning for gold in the garbage. If you're going to gamble, choose a meme like Ping, which has a narrative background and a positive flywheel effect. 6. uni's opening of the fee switch is a crucial variable in the crypto industry. In the future, altcoins without revenue generation, dividends, or empowerment will be garbage, no matter who promotes them or how large the investment team is. Without empowerment, they're garbage. 7. Retail investors who don't update their understanding in time will soon be eliminated. Specifically, this refers to retail investors stuck in meme-based thinking or VC-based thinking. The way they'll be eliminated is simple: they'll lose everything and leave. 8. Some market voices think that retail investor exodus is a terrible thing. Actually, institutions don't see it that way. The world doesn't lack retail investors. When institutions control most mainstream coins, they can control prices and attract a new wave of retail investors. 9. In a few years, it will become increasingly difficult for retail investors to buy real BTC; they may be replaced by various BTC derivatives. 10. Right now, you should continuously buy spot BTC and avoid unnecessary trading. Survival of the fittest.

To all those who bet on $ping, this time you'll win, and everyone will turn their fortunes around.

On November 4th, the trading volume during the ETH price drop exceeded 1011, second only to April 7th in the past year, and before that, only August 5th, 24 years ago. Such a massive trading volume during a price drop is generally a sign of a market bottom. Bitcoin is similar; although the trading volume the day before yesterday wasn't as high as on October 11th, it was still enormous. The subsequent market movement may not be a direct, violent surge; a more likely scenario is a gradual upward trend.

#CryptoOldFish changed his profile picture!