As 2025 is about to come to an end, I’d like to wish everyone a belated Happy New Year.

If you didn’t make money in this round of the market and instead kept getting repeatedly tortured, don’t rush to deny yourself. Often, the problem isn’t a lack of ability, but that the entire market’s game rules have quietly changed.

Many people have felt this change this year — indices are rising, various narratives are overwhelming, but whenever they try to operate, they get repeatedly shaken out, losing more and more, and are taught lessons by "masters" and scammers.

Let me straightforwardly highlight some of the core points of this market cycle:

**Cognitive upgrade is the first lesson.** The kind of one-way upward trend from last year is no longer possible. The current market is characterized by frequent fluctuations and shakeouts; chasing the top can easily get you caught in the middle of a move. Broaden your perspective and keep a calm mindset.

**For beginners, survival is more important than making money.** Don’t go all-in, control your positions, and restrain your emotions. Only by managing drawdowns can you qualify for profits. It sounds simple, but it’s deadly to implement.

**Stay away from unfamiliar coins.** If you can’t explain why they’re rising, who’s buying, or what the logic is, then it’s essentially gambling. If your understanding isn’t enough, stick close to mainstream coins and stay away from those flashy tricks.

**Rotation speed is ridiculously fast.** When the whole internet is discussing a certain hot topic, it’s often when the big players are preparing to withdraw. Use mainstream coins as your stable base, and small positions for speculative altcoins — that’s more secure.

**Information gaps exist overseas.** Policies, ETFs, and institutional moves happen first overseas. By the time domestic social media starts to buzz, the market has usually already completed the first half of its move.

This market cycle isn’t about courage; it’s about depth of understanding and rhythm control. Only those who can stay steady until the end will have the chance to share the real benefits.