Find out a few questions and then place your bet 1. Is Bitcoin experiencing a pullback or a bear market If Bitcoin goes bear, there is a high probability that the vast majority of knockoffs will still fall significantly, and there will definitely be a very small number of bear markets that also rise, probably not even one in a thousand 2. If Bitcoin experiences a pullback, it will rise even higher within a few months. So will the knockoff not keep up with the decline? The core of shanzhai is retail investors playing, and it is expected that more newcomers will come running in to buy. The vast majority of newcomers will feel that Bitcoin is too expensive and BTC cannot rise too much. The logic of newcomers running in is the core of shanzhai season. The observation point is the exchange app card, with various registration volumes soaring. 3. Is what KOLs are saying right or not? From my observation, most of them are influenced by emotions. A while ago, they were just taking risks, but now they are starting to mock those who are optimistic about the knockoff season. Chasing the rise and killing the fall is the background of this industry. When it rises, they all risk their lives to rush, and when it falls, they also risk their lives to step on it, so it rises and falls sharply. Bitcoin is doing better now because there are a group of institutions that only buy and not sell. However, there is clearly no counterfeit currency. 4. Maintain rationality and keep cash, you will definitely not earn as much as if you were in the bottom range of the market. However, the problem is that you don't know whether you are at the bottom or the waist after hitting the market. The market will come out, so you don't have that much confidence. You need to have money, and only with money can you participate when there is an opportunity. 5. What I said may not be correct, but the above statements can help most people understand the market more clearly and intuitively.