A phrase circulating in the crypto circle has really made me reflect—"Once the number of believers takes shape, this coin will never see the bottom." It sounds profound, but anyone who has been through the ups and downs on exchanges knows that behind it is the true market game logic.

**Faith is a double-edged sword**

I've seen too many projects with whitepapers that boast extravagantly, communities shouting buy signals one after another, but ultimately it's all a capital game. Those coins that once爆雷 (exploded or failed spectacularly) managed to scam billions through fake K-line charts, yet believers still firmly believe "a dip is a bottom," even insulting those who short as enemies.

Interestingly, faith can indeed withstand several rounds of dumping—because there’s always someone who feels they are in a "revolution." But fundamentals cannot be avoided. Dogecoin is a prime example; even its creator said it was just a joke project, yet a single tweet from a big V can make it surge 20% in 24 hours. Conversely, those fanatic "believers" often become the best tools for big whales: pumping together when rising, obediently buying the dip when dumping.

The current crypto market looks hot; ETH has rebounded strongly these days, with all kinds of "bullish signals" flying around. But my feeling is that this rally is detached from actual demand support, driven more by sentiment and external expectations. When prices deviate significantly from fundamentals, corrections can often be brutal.

**How to spot danger signals**

If you find that a certain coin’s community is becoming more and more fanatical, discussing "faith" rather than "technology," then it’s probably time to reduce your risk exposure. The endgame for altcoins usually boils down to two outcomes: either they truly achieve application landing, or the last batch of believers are the ones fleeing.

This market never lacks stories, nor does it lack people who believe in stories. The key is not to be the last one to wake up.