Let me give you a psychological massage. This wave of decline has broken the defense of many people.

Everyone thinks that there is no bull market, and the bull has gone and has diarrhea.

It is clear that the bull market is still there, but it has changed cyclically. After all, the current market is very different. The listing of BTC ETF seems to be a good thing, but it actually means that the dividends of this circle have disappeared. The volatility will become lower and lower. It is difficult to see a 20% amplitude in a day on BTC. The participation of various institutions and quantitative intervention will make the volatility lower and lower, and finally the same as the A-share market.

So why do many bloggers say that this round of bull market is the last bull market for retail investors? It can be clearly felt that the difficulty is rising exponentially now, and there were few mainstream cottages before, and the funds were concentrated on a few in rotation. Most of them could rise again if they were not moved. But now there are thousands of trading pairs, inscriptions, NFTs, CEX, and various diversion funds on the chain. Many cottages will never get up again after lying down in this round, so don’t fall in love with cottages in this round, and run when you should.

The BTC bull market is still there. At present, it is more like the last round of Defi summer. Leverage cleaning, the current contract holdings are more than the peak of the last bull market. You think that leverage cleaning is to directly knock down all positions with a needle, but this round is a drop and rise, then drop and rise again, slowly grinding away all leverage. So during this period, try to watch more and do less, protect the principal, the wind is back, but the time has not come yet.