It's not just about the unit price; the valuation market cap is the most important. We will anchor the market cap of Bitcoin to that of the five greatest technology giants in human history, concluding that at this stage, the upside space above $100,000 is limited. After one rise, there should be a short sell for arbitrage. Of course, it won't drop deeply. When it reaches a super market cap of $15 trillion, just look at how the tech giants perform in the U.S. stock market to understand it won't decline much; it just needs to oscillate at the current position for a long time, at least several months. Later, we will see if the valuations of tech giants improve, which will determine if Bitcoin's market cap can follow suit. At this stage, there is no room for improvement. There needs to be a logical anchoring; $100,000 has more symbolic meaning than practical significance. This position will repeatedly strangle those who chase the rise and those who short sell after the spike.

After Bitcoin surged to 101,800, it fell back again. In the short term, the upside potential above 100,000 is not very large. Currently, the market capitalization exceeds 15 trillion, comparable to Google's market value. It is recommended to sell at a high and short if it goes above 102,000. The support level is 95,000, and buying at a low to go long is advisable. Currently, it mostly operates between 90,000 and 100,000, with limited space for both upward and downward movements, and the rise is not high from the current position.

Move them with emotions, enlighten them with reason, clarify the logic, fundamentals, market capitalization, there isn’t much room to go up, is it harming you to short at 103,000? At night, the plunge to 98,000 counterattacks those who mindlessly chase after rises; this is a game of chance. A $5,000 price difference cannot satisfy you. Don’t mistakenly believe that going over 100,000 is something significant; the space opens up, everything is in view, 200,000, a million increases like this. Such naive investors have no brains, just knowing that so many people will chase the rise at high positions and end up as counterparty victims. The game is very competitive; can it be solved just by looking at a simple trend? The game element must be considered.

Meitu Inc. has liquidated its holdings. What do you think? Is this an accurate high-position reduction and cashing out by the company's securities department? On December 4, 2024, it sold the cryptocurrencies it had purchased in the market. As of December 4, 2024, all cryptocurrencies held have been sold, including 31,000 units of Ethereum and 940 units of Bitcoin, with total cash consideration of approximately $100 million and $80 million, respectively. The profit from the sale is about $79.63 million (equivalent to approximately 571 million RMB).

The symbolic significance of Bitcoin breaking 100,000 is greater than its actual significance. The range from 99,000 to 103,000 seems large, but in reality, it's only 4%. This price difference cannot lead to financial freedom without leverage. In the future, with such small fluctuations and no leverage, it will be difficult to make profits. There isn't much room to go up or down. Reaching 100,000 dollars does not mean that there is significant room for further increases, nor does it mean that the spot price can double. It can only be said that Bitcoin is no longer undervalued, and there is no possibility of picking it up at a bargain. Now, a fluctuation of 10,000 dollars is less than 10%. Can one achieve financial freedom? Can one obtain a doubling of returns?

This is the last visibly discernible bull market; there will no longer be deep declines providing opportunities to buy at low prices. After completing the revaluation of value, there will also be no significant rises, only maintaining the current reasonable price while competing for short-term price differences. This conclusion applies to the stock market, cryptocurrency market, and real estate market. As the chief expert from Northeast Securities stated, all channels for the middle class to ascend have been completely sealed off, not just partially, but entirely. The main appreciation channels in the past may have been real estate, stocks, funds, bonds, etc., but now all these channels benefiting from dividends have been completely shut down. The stock market situation is very challenging; even dogs shake their heads at it. It's not something ordinary people can engage with, and the cryptocurrency market is increasingly approaching the difficulty level of the stock market in the future. There is no longer any concept of overvaluation or undervaluation, so this is indeed the last visibly discernible bull market. In the future, all kinds of gameplay will become increasingly difficult.

It's been less than a month since November 5th, the lowest increase is 1 times, the middle is 4 times, and the fastest is 10 times. The pace is too fast. If you don't chase the rise, you will be too late. It's only been more than 20 days, and the differentiation is very obvious. Some have risen more, some have risen less, and some are still halfway up. At the beginning of the year, some people bought ordi at 90U and now it's 40u, still halfway up. If you are fully invested and miss the bull market, your efforts will be in vain if you make the wrong choice

It's been less than a month since the 11-5 issue, with the lowest increase being 1 time, the middle range at 4 times, and the fastest at a full 10 times. The pace is too fast; if you are not in it to chase the rise, you won't make it in time. It has only been about 20 days, and the differentiation is obvious. Some have risen significantly, some have risen little, and some are still halfway up the hill. At the beginning of the year, I bought Ordi at 90U and now it's 40, still halfway up the hill. Choosing incorrectly also means that effort is in vain.