I have been in the crypto world for ten years. Back then, Bitcoin was just a technical experiment discussed by a very small number of people, with no consensus, no liquidity, and it was far from being in the mainstream view. Along the way, I have witnessed it step by step move from skepticism, ridicule, and marginalization into the global financial system, becoming an asset presence that countless people cannot ignore.

In the past decade, I have fully experienced multiple rounds of bull and bear market transitions. I have witnessed the extreme frenzy at the peak of a bull market and have also experienced the almost "voiceless" silence of the market deep in a bear market. When prices soar, human nature is often magnified by greed; when prices plummet, fear can drive rationality completely out of the picture. What truly determines success or failure is never a single judgment, but whether one can maintain clarity amidst extreme emotions.

Through continuous trial and error and reflection, I gradually formed my own trading cognition: not chasing emotions, not blindly believing in a single indicator, and not indulging in short-term fluctuations. I pay more attention to macro cycles, capital structure, narrative inflection points, and changes in overall market risk appetite. At the end of a bull market, I tend to lower my expectations and gradually exit; at the bottom of a bear market, I am more willing to patiently layout.

For me, trading is not gambling, nor is it showing off skills; it is a long-term game about cycles, discipline, and patience. After going through multiple rounds of bull and bear markets, I always strive to position myself on the correct side of the bull-bear divide, which is both a result of accumulated experience and a reflection of my respect for the market.