After many years of investing and trading, I’ve observed a phenomenon — people chasing hot trends, I’ve never seen anyone make money. Not a single one around me.

Remember the ICO craze of 2017? How many people went all-in on various project tokens, claiming they would get rich overnight. And now? Most of those people have already exited, or even lost everything. But those who honestly bought Bitcoin and held Ethereum during the same period are still doing well, and their returns are quite substantial.

In recent years, I’ve seen the same script repeat itself with Meme coins, GameFi, and L2 concept tokens. Some chase the surge wildly, getting trapped at high prices; others hold onto core assets steadfastly, waiting for the next cycle. The outcomes for both types of people are essentially the same.

Here’s a blunt truth — chasing hot trends in the crypto market and chasing the ChiNext in the stock market are fundamentally the same. Both are manipulated by short-term emotions and FOMO.

In five years, by 2030, looking back, how many of the traders currently chasing some quarterly hot coin will still be around? And those who bought mainstream coins and made long-term allocations should have already been laughing all the way to the bank.