In this market, how do people make money? The question isn't that complicated; it's actually a path of continuously upgrading cognition and behavior.

The first stage is the most common. Watching news, listening to recommendations, following the crowd's sentiment. When the market is good, accounts grow, and it's easy to mistake luck for skill. When the environment changes, the gains are quickly lost. Everyone who loses is caught here: relying entirely on luck.

Some start to study more. Learning K-line charts, analyzing trends, researching key levels, gradually understanding the timing for entering and observing. But here's the problem—plans are no match for emotions. Hesitating to take profits when it’s time, unable to resist acting when waiting. Learning technical skills, but execution falters.

The gap begins to show here. Some set rules for themselves, with preconditions and bottom lines for every trade. Deciding whether to enter, how much to allocate, what to do if it loses—everything is planned in advance. Not chasing hype, only taking opportunities that meet their criteria. At this stage, trading shifts from "guessing right or wrong" to "calculating probabilities," and results gradually stabilize.

Next level up, frequent trading decreases. The focus shifts to rhythm and timing. Diversifying positions, layering risks, paying attention to long-term structure rather than short-term fluctuations. Earnings are no longer from a specific rise or fall but from the overall market cycle.

The final layer goes beyond trading itself. Participating in industry development, deploying projects, building resource networks—diversifying sources of income. Earning from the dividends of industry growth, not just price volatility.

The Federal Reserve’s liquidity policies, the role transition between Bitcoin and gold, the cyclical evolution of the entire crypto market—these are reshaping investment logic. Those who survive are not relying on a single divine judgment but have walked this progression path. The market is brewing, and opportunities are also brewing.