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"Already doubled in price, now buying is just catching a falling knife"—this phrase has been heard very frequently lately. But to be honest, this kind of judgment is quite far off; at best, it's treating the market trend as a guessing game of big or small.
Let's reverse engineer the logic from the ORDI case. Before the spot trading on this project, it had been oscillating in the $3-5 range for nearly a month. At that time, public opinion was generally bearish, "no prospects"