Analyzing based on cycles and market trends The golden opportunity for long-term positioning has arrived In a bull market, during the narrative explosion phase, all projects rely on storytelling to cash out. They’re holding balloons— Some blow them up with words, some with technology, and some with data. After going through the cycle, Who truly has the tech? Who is consistently developing? Whose data isn’t fake? Does the project have consensus? Which ones are mainstream? Which ones are knock-offs? Which ones are just inflated bubble valuations? It’s all crystal clear now!!! Projects with some level of consensus might drop a few multiples, while those hyped up by storytelling could drop dozens of multiples. Projects with real tech, authentic product data, and stable returns can cut costs during a bear market and still persist. Those without tech, with fake data, and running at a loss have already shut down or gone bankrupt. This isn’t great news for short-term speculators— Because it’s getting harder to make money. But for long-term investors, this is a rare opportunity. In the past, projects in the market were all wearing makeup. They all looked good, and it was easy to misjudge. But now, they’re all bare-faced. Whether it’s a camel or a horse, they’ve already been paraded around. Everyone has a clearer picture now. So, before, it was like finding a beauty in a crowd of women with makeup. Now, it’s about finding a beauty in a crowd of women without makeup. Value is easier to spot. So, the opportunity is here. Researching and investing in projects now is far more valuable than it was before.