"This round feels more like the bear market that started in 2018: 1. 2018 marked the beginning of the economic downcycle, and the big trigger back then was the U.S. stock market crash. 2. The peak of 2018 was the massive wave of ICOs from so-called 'king-level' projects outside the crypto circle in 2017. This time, it’s last year’s Trump pump. 3. After a lot of iconic players cashed out and left, in 2018 it was domestic institutions and ICO investors. This round, it’s North American institutions and some top-tier trading players. 4. We’re clearly entering the '盘圈' (trading circle) cycle. In 2018, people moved from Beijing and Shanghai to Shenzhen. Now, it’s all about embracing Hangzhou and Kuala Lumpur. Once again, it’s a big opportunity for the survivors to reign. Two bull-bear cycles can lead to financial freedom. Three cycles make you an industry leader. Four cycles, and you’ll be written into history. I’ll stick it out with everyone, shifting into a deeper social mode—connecting with active players, institutions, and exchanges." #Crypto #BearMarket #Survivors