#比特币价格分析与趋势 Seeing Kong Jianping's viewpoint, I have to admit that this time's logic has given me a bit of a wake-up call. I've experienced several past bull markets, and I'm all too familiar with the cognition diffusion cycle—geeks bring in programmers, programmers bring in retail investors, retail investors bring in bagholders. Every time, it's a new story, a new belief, new leeks. But the supply contraction driven by what he mentioned does indeed change the game rules when you think about it carefully.

ETF and institutional holdings change the supply and demand structure, and this is not虚的. Some bitcoins are locked long-term, like they are stored in a central bank vault, and these chips will no longer be repeatedly exploited in the secondary market. The sellers decrease, and the price rises, no longer relying on the new entries of square dance aunties. For those of us who want to survive longer, this is both an opportunity and a challenge.

The opportunity is that we no longer need to look everywhere for the next "story that changes the world," nor worry about a big V's一句话 causing a price plunge. The challenge is that this supply-driven upward cycle could last a long time, testing patience rather than reaction speed. But at least, we can worry less about projects and whales that rely on stories to manipulate people. Truly underlying assets will speak for themselves.