The market is still very rational. The current pricing of AI in the US stock market is still based on Nvidia's financial reports. It is far from the situation of the Internet bubble where the valuation of software companies was outrageous. If this round of AI bubble blows up, it will inevitably be accompanied by the bubble of AI software companies, such as the valuation of OpenAI.

Another indicator is how to compare the greed and irrationality of the market in 20 years and now. Obviously, there was a lot of greed in 20 years, which feels about 2-3 times the current level. The reason is that the Dow and NASDAQ rose by 10-15 points in the November election market in 20 years, but this year it is less than 7 points.

In such a rational environment, cryptocurrencies are likely to follow the US stock market instead of going out on their own.