The so-called "knowledge" of many people in the cryptocurrency circle often has the following three characteristics:

1. The study of historical cases only summarizes the profit and loss results, but does not reflect on the laws and principles behind the phenomena.

2. In cognition, there are only trend graphs, but no market background and time process.

3. The concept of labeling makes it seem as if there is only one development path, while ignoring the complex and diverse possibilities.

These "knowledge" will only make you remember the things on the surface of the trend, but you cannot understand the principles of price operation and the complex connection between multiple factors, which is more likely to lead to rigid thinking and stubborn operations.

What is more valuable should be the wisdom formed after long-term practice of knowledge, including information processing, subjective interpretation, small-scale trial and error, and the formation of a system. But obviously many people stay at the second and third steps.

After thinking this through, I am very convinced that most people's wealth comes from cycles, not strength.