The crypto industry is quite fascinating. Those who are bullish and consistent in their words and actions are often the ones most easily mocked or even hoped to encounter trouble. The underlying reason for the ridicule is quite simple—"What makes you so rich? Where does all this money come from?" It’s as if merely expressing a firm bullish stance publicly makes you inherently owe everyone an explanation, or even a "bad luck" ending. But if you look at the timeline, from the big explosion in 2020, to Three Arrows, Luna, FTX, to MicroStrategy on the brink of liquidation, and now "Yilihua / BitMine," almost no high-profile bullish players escape this narrative script: the more confident and outspoken you are, the easier it is to be sacrificed. People in the industry seem to always need a sample that proves "it will ultimately fail" to soothe their insecurities and envy. Meanwhile, reality is harsh: as a new asset class, markets have never experienced an eternal bull run. Big institutions that are bullish one after another fall apart, and those remaining in the industry are either already wielding the scythe themselves or still holding onto the last shred of hope that "the mainstream assets born in the big casino" will have an everlasting bull market, and they leverage to go long. I don’t agree with this cyclical long narrative, but I also want to remind everyone: when you’re criticizing others, at least think about why your Bitcoin can break through the dark and gray intertwined shadows and reach today’s price? It’s not something that can be fully explained away with just a "scam." So, as long as you’re still here, people who are bullish and consistent in their words and actions deserve respect. Not because they are necessarily right, but because they are willing to take responsibility for their views: they don’t hide when prices go up, and they don’t cut their positions when prices go down. If you don’t buy, I don’t buy—then all that’s left is mutual mockery and curses, and we’ll only get worse. Ultimately, everyone has their own stance. When FTX exploded, many thought the biggest bomb in the industry had gone off, and the world would be better. But three years later, has an industry dominated by one player really become better? It doesn’t seem so. Making money and earning more respect doesn’t necessarily require completely crushing the competition; nor should it rely on using "bullish and united people" as an emotional outlet. Tomorrow will be better.

BTC-0,43%
LUNA-6,12%
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