Price increase does not mean a bull market, so be careful to distinguish. . .

The market next door is very hot, and people think that the bull market is coming, and it will reach 8,000 points, right? I don’t know.

But we can talk about the topic of fund attributes.

I like to divide institutional funds into: speculative funds and investment funds.

Speculative funds do not care about the fundamentals of the project or the future value. As long as there is a speculative opportunity, they will kill, kill, kill. This type of funds stay in the market for a relatively short time and will withdraw immediately after the speculation is successful.

Generally speaking, when the policy and market sentiment are sufficient, this type of funds will enter the market, pull up the market and then ship out, which is short, flat and fast.

The entry of investment funds will make retail investors think that the bull market is coming, but it is not.

The capital market likes to call this type of funds dealers. Retail investors think that retail investors lose a lot, but in fact, dealers who die in the speculative market are even more dead.

Investment funds focus more on long-term returns and develop together with projects, so it is necessary to do sufficient research on the market, industry and projects. In the short term, they don’t care too much about the rise and fall, they make long-term money.

With the continuous injection of long-term funds, the growth of projects, and the external environment, the entire industry will rise, and a bull market will gradually form.

The risk of long-term investment is also not small, especially in the currency circle, otherwise there will be no 3AC incident.

Therefore, to judge whether a market or an industry is bullish, the capital attribute is a good indicator.

As a professional investor, you must not be led astray by the media. . .

That’s all, hoard your coins well.