The next 12 months could be the most critical year for the crypto industry. ⏳

If the "four-year cycle" curse is broken, what we will welcome is not just a long bull market for $BTC , but also a 【value reassessment】 of the entire Crypto ecosystem.

The biggest bug in the current crypto space is that mature and cash-flowing assets are being valued according to the logic of "traditional banks" or even lower.

In the industry:
High-quality projects with cash flow such as hype, clanker, sky, uni, pump, etc. only enjoy a valuation of 3-10 times PE.

Stock Market:
📉 Coinbase PE: ~20
📉 Circle PE: ~25
📉 MARA and other mining companies PE: < 5

The mining company IREN, which is also transforming into cloud computing, enjoys a 26 times PE.
The neighboring Robinhood ($HOOD) is approaching a PE of nearly 50 times.
Of course, you could say that a business with diverse operations and stable income should be expensive.

But it is undeniable that Crypto is "discriminated against" in the capital market.
It seems that as soon as it is labeled as Crypto, it instantly becomes worthless.

The reason lies in the background of the "four-year cycle"; people do not believe that these cash flows are stable.

Indeed, looking back at history, the turnover of industry leaders is astonishingly fast.
Perp DEX has changed three times in four years, from DYDX to GMX to HYPE.

Coinbase's financial report is fluctuating.

$PUMP has also been rubbed on the ground this year by $BONK .

Questioning "stability" seems reasonable and justified.

But in the midst of these doubts, what I see is the validation of business resilience:
✅ $HYPE: Despite the dismal November, it still maintains a daily buyback of 2-3m.
✅ $PUMP: Daily buyback of 1m is unchanging.

If the four-year cycle is discredited and these protocols run smoothly for another year, the capital markets may only belatedly realize that they have been committing crimes.

❌ They give the future globalized Robinhood ( Hyperliquid ) only a 14 times PE.
❌ They have created an on-chain casino that has never existed in human history (PUMP) with only 4x PE.

What we need to do is very simple:
Grab the bottom chips before the market realizes it is committing a crime.
Then, when they woke up and swarmed in, they poured the goods heavily over their heads.

This is the greatest dividend that belongs to our era.💰

What? Are you asking what we should do if we make a wrong judgment?
Then I might as well deliver food.
Returning to the original intention of cryptocurrency enthusiasts - POW.

#Bitcoin #Crypto #Investment