Humans are social animals, and most people are easily influenced by the environment and tend to follow the crowd. In daily life, you can't see the harm, because no matter how ordinary you are, you still have labor and can meet normal survival needs. At most, when you look back on your life before it passes away, you feel that you have lived in vain.

But in the financial field, following the crowd is a terrible thing. The harm it brings is immediate because you will lose money. At the same time, it is difficult to realize the root cause of this harm - because it is a subtle influence on the mind.

Overnight, Bitcoin fell below 66K, and the mainstream voices are again predicting the market’s decline. These voices can find all kinds of negative factors to intimidate participants. Three people make a tiger. If you still follow the crowd and have no judgment, and accept this result after repeated brainwashing, you will finally start to wait and see, or even sell at a loss.

The same voice, when Bitcoin broke through 70K, they would say the bull market has arrived, and they could also find various favorable factors to "support" their views. Fomo was brainwashed again and again, and finally started to go all in, and was trapped.

As money follows the crowd, it transfers from your wallet to other people's wallets.

If you want to change this situation, you must know yourself and the market. Knowing yourself means figuring out how to make money, and knowing the market means figuring out what ultimately determines the rise and fall.

I see others getting rich on ORDI, PEPE, and MEME. But I lose money here and there, and even Bitcoin has reached a new high but I still haven’t made any money. If I can’t make money on Chongtugou, it means I really don’t have the ability. I didn’t buy Bitcoin because I don’t have the ability and I think too much.

The change starts with buying Bitcoin. After you make money, you can then think about taking acceptable losses to participate in opportunities in the development of the industry.

Don't take yourself too seriously, and reflect this in your understanding of the market. I have said more than once that the ups and downs of the market have little to do with you and me. Short-term ups and downs come from the common emotions of most leeks, and long-term ups and downs come from the recognition of fund institutions.

For example, the rise during Trump’s speech at the Bitcoin Conference came from the common expectations of the leeks, so it promoted a short-term rise in prices, but the scattered troops were not enough to accumulate solid strength, so it retreated to 64K.

The common sentiment of institutions is the most important. Take traditional finance as an example. Figma, the world's leading UI design software, was launched in 2016. Its valuation increased 100 times in a few years, reaching 10 billion in 21 years. This is the common sentiment of VCs. They are willing to invest real money at such a valuation.

The current crypto market is at a time when institutional sentiment is common and ready for Fomo.

In the last bear market, the maximum supply of stablecoins was US$162.9 billion. Net outflows began in April 2022 and ended in October 2023. Subsequently, the supply of stablecoins began to turn into net inflows and continued to expand, accompanied by BTC breaking through the 30K box oscillation and breaking through above 60K.

From October 2023 to February 2024, the scale of stablecoin growth was close to 14.6 billion. However, in the five months from February to now, the supply of USDT alone has increased from 100.55B to 121.43B, an increase of 20 billion. The total supply is 171.3B, which has surpassed the highest value of the previous bull market.

The biggest difference between this bull market and the previous one is that under the risk exposure of Bitcoin ETF and Ethereum ETF, the emotional consensus of institutions can be more easily converted into real capital supply because there are legal and compliant channels to hold Bitcoin.

In February this year, Bitcoin ETF purchased a total of 144,689 bitcoins. As of now, the total net asset value of Bitcoin ETF is 60.12B.

That’s not all. After the crypto community entered the American political arena, almost all candidates said that they would start a national Bitcoin reserve plan after they were elected. Such influence will radiate from the United States to all capitalist countries. Will the price increase be small if you buy in at this level?

The interest rate meeting foreshadowed a rate cut in September. The Federal Reserve could not withstand the market pressure and was ready to surrender. The global capital market has begun to respond strongly. Nvidia, with a market value of 2.9 trillion, soared 12%. Even the A-share market finally saw its first big positive line after a long drought.

The whole city is covered with golden armor, this is the general trend. The surging power is quietly supporting the crypto market.

But before making a strong effort to take off, it is necessary to accumulate strength. Every decline now is accumulating strength for the bull market that has not yet come.

At this time, don’t let the noise of the market interfere with your judgment. Don’t dwell on why the tokens you hold don’t rise. Just do as I said, hold Bitcoin and Ethereum on a large scale, and follow the established investment plan. The returns of this bull market will not be small.

But if you still don’t have a plan, and are still struggling with meme coins, contracts, local dogs, and short-term transactions, in a daze, not knowing where you are coming from or where you are going, you must wake up at this moment.

The mountains and rivers are far away, and the falling flowers in the wind and rain make spring even more sad. It is better to take Bitcoin.