You're all waiting for $LAB to drop to 10? Last time someone said that, the line to the rooftop stretched all the way to Wall Street. Currently at 15.46, down 19.59% in one day, with $640 million in trading volume. I've seen this kind of low-volume crash three times—end of 2012, mid-2016, and March 2020.

Comparative data: After the 2012 halving, LAB dropped from 17 to 11, then surged to 1980 in 8 months. After the 2016 halving, it dropped from 13 to 8, then skyrocketed to 1050 in 12 months. In the black swan of March 2020, it dropped from 24 to 8.5, then soared to 11780 in 21 months. Now it's dropping from 20 to 13.8, a 31% decline, closely aligning with historical retracement ranges. But history tells us: when fear is thickest, that's when the staircase is being built. Is the 24h low of 13.82 the stage bottom anchor for this cycle? I bet someone has already sucked up $120 million at 13.8.

Trading advice: Don't catch a falling knife. Wait for 15.8 to stabilize before going long with a small position. Set stop-loss at 14.2, first target at 20.5, and position size no more than 20%. If it breaks below 14.8 with volume, then the script for this bull run might have changed, and I'll exit directly. Don't fight the downtrend out of stubbornness. "Buying more on the way down" is poison in a bear market but an antidote in a bull market—the key is correctly judging whether this is a bull market correction or the start of a bear market.

Finally, a prediction: The current P/E ratio is not applicable, but the number of active on-chain addresses has increased 40% compared to 3 months ago, and chips are concentrating. As an old-timer, I'd rather watch the moves of on-chain whales than the charts. If interested, check my homepage for real-time monitoring. History doesn't repeat, but it often rhymes.