Encryption bull run, I'm out first.

I mentioned to everyone back in March last year that this wave of the encryption market might have peaked, and I still hold this view. I'll share a few of my reasoning bases, just my personal opinion～

1. The pattern of price increase is presented here.
Those who have done a review know that the larger its market value, the narrower the upward space for each round of the market.
The first two rounds of the market rose by 98 times and 22 times respectively, and this round is currently around 8 times, which completely aligns with the trend of "diminishing returns."

2. The time period has traceable patterns
Looking back at the market peaks of the past three times, they were basically in November 2013, 2017, and 2021. Based on this rhythm, the next cycle peak may have to wait until November 2025. It is still early to reach this time point, and it is difficult to have significant breakthroughs in the short term.

3. From a technical perspective, it really seems like it's "not moving up."
It is obvious from the trend that the momentum is weakening:

• The range from 15k to 70k is the smoothest, with almost no resistance.

• It took 7 months to break through from 70,000 to 110,000.

• It took another 7 months to go from 110k to 124k.
At the same time, the increase in magnitude is getting smaller and smaller, which is obviously a signal of exhaustion.

In short, the risks now outweigh the opportunities. Those who have chips must be cautious and not be greedy in chasing highs!