⚡️ Friends, there's something very common but easily overlooked: people do not use the same standards to view different stages of the market.

When prices are not rising, everyone is very rational; once prices go up, people start to change. Gold is a typical example. During sideways or slow-rising phases, many will complain: only a few points a year, it's boring.
But once the trend starts, prices are pushed higher and higher, and the same group of people rush in at even more expensive levels, then start expecting double, even multiple returns. In fact, the market hasn't changed; it's the people that have changed, with expectations being driven by the price.
Applying this logic to Bitcoin now is also very interesting. Some say: rising to $150k is just a 2x increase. This sounds calm, but it reveals a mindset: our judgment of what constitutes a reasonable return has been recalibrated by past explosive gains.
In traditional assets, a huge asset doubling is very rare, even considered an excellent market move. But in the crypto market, such gains are often dismissed as just normal.
This often means two things: either the market is truly brewing bigger expectations, or people have unconsciously become overly optimistic. Many times, these two are intertwined.
Looking deeper, this actually reminds us of a more critical question: are you making trend judgments, or are you stubbornly trying to find the bottom?
Many people now are worried about whether the market will drop another 10%. But this question is fundamentally a short-term issue, and it's very hard to have a definitive answer.
A more important question is: if the trend really arrives, are you in the game? Building positions gradually during a decline might lead to some paper losses, but at least you're still at the table. Waiting for a perfect entry point, if the market doesn't give it, you might miss the chance altogether.
The former is enduring volatility; the latter is missing out entirely. And in the market, most people underestimate the second risk.
When prices are low, people underestimate the potential; when prices are high, they overestimate the future. The real challenge is making less comfortable but more rational choices before emotions reach extremes.
That's also why many big trends are not lost due to poor judgment, but due to waiting.