#比特币价格波动 Seeing Bloomberg's tone, I have to say a few heartfelt words. The figure of $10,000 sounds frightening, but upon closer inspection, their logic is the most worth warning about.

Let's look at the facts first: ETF approval, mainstream recognition, and the realization of favorable conditions — all of these have indeed happened. But this is precisely the most dangerous moment. I suffered losses early in the crypto world, and it was always the same pattern — after each positive development, signals would appear that institutions and big players are fleeing. They had long been ambushed, waiting for retail investors to follow the trend and buy in, then a wave of bloodletting.

Now, cryptocurrencies have surged to 28 million types, and this detail is quite intriguing. What lies beneath the appearance of prosperity? It’s a flood of altcoins, air projects, and all kinds of new schemes to cut leeks. The more market participants there are, the more ruthless the cuts become.

I'm not saying Bitcoin will necessarily fall to 1 million, but I am saying that the market fully digesting this fact already means risks are accumulating. Every time you hear "risk-reward structure changes," it usually signals that something is about to change. Instead of obsessing over target prices, ask yourself: do you really understand your costs and risk tolerance? Or are you again being driven by FOMO?

The core of long-term value investing has never been chasing strategists' predictions, but rather protecting yourself.