Our main strategy in the past was actually long-term holding and value investing.

And indeed, we earned the money we were supposed to make because, during the upcycle, we could hold on, and do less back-and-forth trading.

But this time, my subjective feelings are changing.

Now it’s not about wondering whether when Bitcoin drops to 60k, it has already hit the bottom.

Instead, it’s about starting to think about one thing: if the future is a long-term structure of consolidation and repeated tug-of-war, does the idea of “trading time for profit” even still make sense?

With the same holding period, different entry timing doesn’t necessarily lead to the same returns—and it may just end up consuming you back and forth.

ETH has a similar problem too.
It’s not simply about seeing a drop to 1000 and whether to go heavy to buy the dip.
It’s first about asking: if it breaks below 1000, does it still have the ability to find its way back and move forward in the next round?

If the answer is uncertain, then the logic of buying more the more it falls needs to be questioned as well.

So the strategy going forward may not be as simple as just long-term holding—
when it’s time to hold, hold; when it’s time to wait, wait; and when it’s time to doubt, doubt first.

It’s not that we don’t do long-term—we just no longer assume that long-term is always correct without thinking.

Just like real estate, Baijiu, and even gold.
If you allocate to them long term at the wrong time, the essence is passively enduring a very long cycle.

With good assets, slowly—maybe they can set new highs in 5 to 10 years.
But during that period, whether you’re actually making money or just getting drained is a different matter.

More realistically, you might even miss other stage-by-stage opportunities.#Gate13周年现场直击