1. Abandon studying fundamentals in the short term and only look at the supply and demand relationship of tokens

The lesson we learned from the last round of bull market is to constantly learn new tracks and new technologies, understand technologies, and identify the meaning and value behind them.

The lessons of the last round have become negative lessons. After all, the currency circle is still essentially a casino. Without real long-term customers, it is difficult to rely on performance to support the currency price, so there is no fundamentals, especially when the whole market lacks new gamblers, it is even more lacking in water, and there is even less fundamentals. If there are fundamentals, it is probably the expectation of the future.

You expect the modular blockchain to explode, just like believing that the human brain will have an interface in the future;

Expecting the second-layer expansion and Ethereum sharding to bring a massive ecosystem is just like believing that people will build a base on the moon in the future to bring a new prosperous business;

Expecting smart contracts on Bit is like expecting people to master controlled nuclear fusion.

These are inevitable sooner or later and will come, but the future has not come. The expectations have been priced in the high valuations of companies such as Sequoia, so speculation on new things instead of old ones has become a wrong lesson.

Since fundamentals cannot play a role in the casino in the short term, the only thing that can play a role is the capital side that will not deceive people.

Full release, full exchange of chips, dispersed holdings, and no major selling pressure are the life and death books that determine the rise and fall of the currency in the near future.