#美SEC推动加密创新监管 Is the market winter here again? Does this wave of fall remind you of anything?

Looking back at the old ledger, how many people couldn't withstand the pressure and cleared out during the bear market in 2018? And the result? During the bull market surge in 2021, they could only watch helplessly as others counted their money. History always loves to play such jokes—often, the darkest moments give birth to the most steadfast holders.

The market does look bad right now. But think about the trajectory of Bitcoin over the years: starting from zero and climbing to $120,000, wasn't each transformation completed amidst doubts during a fall? Price halved? From another perspective, this is a window period to build positions in future assets at a lower cost. Where have those voices shouting "eternal bull market" gone from last year? The market has always gone against human nature; when panic spreads to its extreme, the turning point takes root in the dark.

The losses on the books are indeed heartbreaking, but it's important to recognize one fact: in a bull market, what you earn is paper profits, while in a bear market, you accumulate real chips. Every fall is essentially the market forcing a discount, providing benefits to those who can see the direction clearly. Looking back at those who gritted their teeth in 2018 and 2020, haven't they all become experienced players later on? It's not luck; it's because they understand – do not sell in a bear market, so you have the confidence to reap rewards in a bull market.

Don't be swayed by the rhetoric of "crypto is dead." The development of underlying blockchain technology hasn't stopped, and the innovation of Web3 applications is still progressing; only the speculative funds that chase highs and sell lows have crashed. Those who truly believe are quietly researching project fundamentals, enhancing their understanding, and accumulating positions, waiting for the next cycle to start.

When will the next bull market arrive? To be honest, no one can predict it accurately. But one thing is certain: before the real opportunity arrives, you must stay in the market. Those who leave will never catch the moment it takes off.

To put it bluntly: a bear market is a screening mechanism, the ultimate test of faith and judgment. Those who can maintain their composure now are the ones who deserve the rewards in a bull market. Don't let short-term fluctuations destroy long-term possibilities; the iron law of the crypto market is that only those who survive are qualified to laugh last. Hold on, and you will be the winner of the next cycle.