Another sleepless night. Having been away from home for too long, my biological clock has long been disrupted, and the recent crypto market is the same—its ups and downs are unpredictable. Someone asked me if I still believe in a bull market. From buying the bottom at $28,000 in 2023 to now planning to exit at the top, as someone who has experienced this market firsthand, I really should share my thoughts.

Recently, I took a trip to Malaysia and wandered around Genting Highlands. In the foggy resort, I surprisingly didn’t place a single bet, which would have been unthinkable before. This reminded me of the story of Genting founder Lim Goh Tong—this Fujian Chinese moved south to make a name for himself, transforming barren mountains into a world-class resort over decades. In the era of real economy, he was quite like some practical figures in today’s crypto world. The difference is, Lim Goh Tong’s first pot of gold was cleaner, and his contribution to the local economy was tangible.

**Currently, the market urgently needs long-term conviction**

The technical signals are indeed warning: the monthly chart shows a dark cloud cover, and the liquidity crisis last October triggered a wave of liquidations, bursting many bubbles. Retail investors’ wallets and mindsets need time to recover, and that won’t happen overnight.

But standing on this land, I suddenly realized: those who can truly create value in Web3 need this kind of cycle-spanning perseverance.

Right now, many institutions are accumulating Bitcoin at the $100,000 mark, providing solid support. However, many market makers of smaller coins were deeply hurt during that event, and not all of it has been exposed yet. The folks on Wall Street are losing clients’ money; they’ve long since become indifferent to retail investors’ life and death. Their hearts are that black.

**The real opportunities are in the hands of those who persevere.** Short-term volatility and panic often eliminate those lacking conviction. In the long run, the ecosystems represented by Bitcoin and Ethereum will continue to evolve. The question is, can your psychology withstand this process?